Nigeria and its investors have recently been given a new reason to cheer as news came in that MSCI Inc. would be keeping Nigeria in its widely tracked MSCI Frontier Market Index, after suspending its plan to consider the country for a reclassification status. 
Additionally, the World Bank announced that Nigeria now ranks 145 (compared to 169 in its previous issue) out of 190 countries in the Ease of Doing Business index for 2018.
Two major policy actions have played an important role in this development; 1) the introduction of the I&E Window in mid-April 2017 by the CBN with the objective of restoring stability & liquidity to the FX market; 2) the formation of the Presidential Enabling Business Environment Council (PEBEC) in July 2016 by the government, following the country's 169 ranking on the 2017 Ease of Doing Business index, with the mandate to remove bureaucratic constraints to doing business in Nigeria and make the country a progressively easier place to start and grow a business.
The immediate aftermath of both policy implementations should be an increase in inward portfolio and direct investments in the Nigerian economy going forward.
Two major policy actions have played an important role in this development; 1) the introduction of the I&E Window in mid-April 2017 by the CBN with the objective of restoring stability & liquidity to the FX market; 2) the formation of the Presidential Enabling Business Environment Council (PEBEC) in July 2016 by the government, following the country's 169 ranking on the 2017 Ease of Doing Business index, with the mandate to remove bureaucratic constraints to doing business in Nigeria and make the country a progressively easier place to start and grow a business.
The immediate aftermath of both policy implementations should be an increase in inward portfolio and direct investments in the Nigerian economy going forward.
The much broader impact should be the consolidation of the economy's exit from recession.
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