JPMorgan Adds Nigeria to New Bond Index After 11 Years

JPMorgan has added selected Nigerian government bonds to its new Government Bond Index-Emerging Markets Edge, marking the country's return to a major global bond benchmark nearly 11 years after its removal. The inclusion, announced on Monday, September 14, 2026, assigns Nigeria a 7.4% weighting in the index, which is close to the maximum country cap of 8%. The new GBI-EM Edge index is expected to launch by the end of September 2026 and will track approximately $330 billion in local-currency government debt across 26 frontier economies. Nigeria is positioned as one of the largest constituents, alongside markets such as Egypt, Vietnam, and Morocco. The index is projected to have an average nominal yield of about 10.4%, roughly 440 basis points higher than JPMorgan's broader emerging-market local-currency index. Nigeria's return follows its expulsion from JPMorgan's flagship GBI-EM Global Diversified index in 2015 due to severe foreign exchange liquidity constraints that hindered capital repatriation for international investors.