JP Morgan bullish on Nigeria’s debt market as reserves climb

J.P. Morgan has spotlighted Nigeria’s Open Market Operation (OMO) bills as a standout investment in frontier markets, citing the nation’s improving foreign exchange (FX) reserves and sweeping reforms at the Nigerian National Petroleum Company (NNPC) as key drivers of investor confidence.

In its latest emerging markets report, the global investment bank reaffirmed its bullish stance on Nigeria’s local debt market, stating that frontier economies remain relatively insulated from global economic slowdowns and continue to offer attractive yields