By Remi Adebayo
The Renewed Hope Global has commended the President Bola Tinubu-led Federal Government following J.P. Morgan’s inclusion of Nigeria in its newly introduced Government Bond Index-Emerging Markets Edge (GBI-EM Edge), with Nigerian local-currency government bonds assigned a 7.4 per cent weighting.
The development comes over a decade after Nigeria’s naira-denominated government bonds were removed from J.P. Morgan’s emerging-market government bond index in 2015.
In a statement on Monday by its Senior Special Assistant on Publicity, Hon. Victor Okebunmi, the Renewed Hope Global said the return signals growing international recognition of the economic reforms under the Tinubu's administration.
Global Chairman of Renewed Hope Global, Ambassador J.K. Adebola, described the development as an encouraging vote of confidence in Nigeria’s economic direction.
“J.P. Morgan’s inclusion of Nigeria with a 7.4 per cent weighting is an important development for our financial markets. It shows that international investors are taking notice of the reforms underway. We must sustain this momentum and continue building confidence in the Nigerian economy,” Ademola noted.
The group future congratulated President Tinubu, the Federal Ministry of Finance, the Central Bank of Nigeria and other institutions involved in strengthening the country’s financial system.
Nigeria's return, dated September 14, 2026, was disclosed in J.P. Morgan’s Global Index Research report and confirmed by the Minister of Finance & Coordinating Minister of the Economy, Taiwo Oyedele, on his official X account.
The inclusion gives naira-denominated Federal Government of Nigeria bonds renewed visibility among international fixed-income investors who track or benchmark their portfolios against J.P. Morgan indices.
Nigeria’s 7.40 per cent allocation is close to the 8 per cent maximum weighting assigned to individual countries in the index.
The benchmark includes $17.47 billion worth of eligible Nigerian government bonds across 16 instruments, with the securities recording an average yield to maturity of 17.1 per cent, an average duration of 3.38 years and a B- sovereign credit rating.
The Nigerian allocation is among the larger country weights in the GBI-EM Edge. Vietnam, Egypt, Morocco, Pakistan, Bangladesh and Kazakhstan each have the maximum 8 per cent weighting, while Sri Lanka has 7.5 per cent.
Kenya has a 6.91 per cent weighting, followed by Tunisia at 5.32 per cent and Uganda at 4.84 per cent.
Frontier African markets collectively account for 44.5 per cent of the index, compared with 31.5 per cent for Asian markets.
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