Nigeria has climbed four places to eighth position in the latest Bloomberg Economics Investment Risk-O-Meter, emerging as the biggest climber among the 19 African economies assessed in the latest investment ranking.
The development places Nigeria ahead of Rwanda, Tanzania, Kenya and Namibia, marking a notable improvement in the country’s relative investment position on the continent.
According to the latest assessment, reported by Bloomberg and cited by Nigerian media, Nigeria’s improvement was driven by stronger performance in three of the five indicators used in the Investment Risk-O-Meter — economic strength, fiscal strength and external vulnerability.
Latest Bloomberg Africa Investment Ranking — Top 10
Rank Country Score
1 🇲🇺 Mauritius 0.6
2 🇿🇦 South Africa 0.5
3 🇪🇬 Egypt 0.3
4 🇬🇭 Ghana 0.3
5 🇧🇼 Botswana 0.3
6 🇨🇮 Côte d’Ivoire 0.3
7 🇲🇦 Morocco 0.2
8 🇳🇬 Nigeria 0.1
9 🇷🇼 Rwanda 0.0
10 🇹🇿 Tanzania 0.0
Mauritius takes top position
While Nigeria moved up four places, Mauritius emerged as the highest-ranked African economy in the latest assessment.
South Africa, which occupied the top position in the previous edition, dropped one place, with its weaker economic-growth outlook cited among the factors behind the decline. Botswana also fell two places.
What helped Nigeria’s position?
The Bloomberg assessment comes against the backdrop of major economic policy changes introduced by the Federal Government in recent years.
Among the measures highlighted are the removal of the petrol subsidy, foreign-exchange market reforms and changes to electricity tariffs, policies designed to address longstanding fiscal, currency and power-sector challenges.
The reforms have, however, also brought significant pressure on households and businesses through higher costs and adjustment challenges.
Nigeria’s actual FDI also increased
The latest investment-risk ranking comes after a separate positive development in Nigeria’s foreign investment figures.
According to analysis of the 2026 UNCTAD World Investment Report, Nigeria attracted about $4.01 billion in foreign direct investment in 2025, representing a 148.4 per cent increase from the $1.61 billion recorded in 2024.
Nigeria consequently ranked fourth among African recipients of FDI in 2025, behind Egypt, Guinea and Mozambique.
The increase was largely supported by investment and project financing in the oil and gas sector, although analysts noted that the inflows remain below what Nigeria needs to finance infrastructure, industrialisation and large-scale job creation.
What the ranking means for Nigerians
Nigeria’s eighth-place position does not mean the country is Africa’s eighth-largest economy or that it has eliminated investment risks.
Rather, the Bloomberg Investment Risk-O-Meter measures the relative attractiveness and risks facing investors across 19 African economies.
The latest movement therefore indicates that Nigeria’s position relative to other African markets has improved across several economic and financial indicators.
At the same time, investors continue to face challenges including inflation, infrastructure gaps, foreign-exchange pressures, high financing costs and the broader cost-of-living crisis.
The latest ranking therefore presents a mixed but important picture: Nigeria is attracting stronger investor attention and has improved its relative position, while the sustainability of the gains will depend on continued economic stability and how effectively reforms translate into broader private-sector growth.
In summary, Nigeria has moved from a lower position to eighth place in Bloomberg’s 2026 African investment-risk ranking, while its FDI inflows also recorded a substantial increase in 2025.
