NGX Group CEO Hails Nigeria’s Return to FTSE Russell Frontier Market Status

Group Chief Executive Officer of NGX Group, Temi Popoola, has described Nigeria’s return to the FTSE Russell Frontier Market classification as an important milestone for the country’s capital market.

Popoola, in a post on X, said the development reflected improvements made in recent years to the way investors access the Nigerian market, transactions are settled and capital moves through the financial system.

He said while such reforms may not always attract public attention, they remain important considerations for global investors when deciding where and how to allocate capital.

“Over the past few years, a lot of work has gone into improving how investors access the market, how transactions settle and how capital moves through the system,” Popoola said.

“These things may not always make the headlines, but they matter when global investors decide where and how to allocate capital.”

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The NGX Group CEO said Nigeria now had an opportunity to build on the progress by deepening market liquidity, attracting more quality businesses and connecting Nigerian enterprises to a broader pool of capital.

“We now have an opportunity to build on that progress, deepen liquidity, bring more quality businesses to market and connect Nigerian enterprise with a much wider pool of capital,” he said.

Popoola said the significance of the development went beyond Nigeria’s classification, noting that its greater visibility could create further opportunities for the country’s capital market.

“That, to me, is where the real value of this milestone will be felt: not simply in the classification itself, but in what we do with the greater visibility and opportunity it creates,” he added.