Nigeria has climbed four places to rank as the eighth most investable economy among 19 African countries assessed in Bloomberg Economics’ 2026 Investment Risk-O-Meter.
The latest ranking places Nigeria ahead of Rwanda, Tanzania, Kenya and Namibia, making it the biggest climber among the major African economies covered by the assessment.
Mauritius retained the top position, while Nigeria’s improvement was driven by stronger performance in three of the five indicators used by Bloomberg to measure investment risk: economic strength, fiscal strength and external vulnerability.
Bloomberg said Nigeria’s rise reflected improvements across those areas, with the country moving from its previous position to eighth in the latest assessment.
The ranking comes as the Federal Government continues to implement economic reforms introduced since President Bola Tinubu took office in 2023.
Key measures include the removal of the petrol subsidy, changes to the foreign exchange market and the introduction of electricity tariffs designed to reduce losses in the power sector.
The reforms have increased financial pressure on households and businesses, with higher costs of living and operating expenses. The government, however, has maintained that the measures are necessary to address longstanding structural weaknesses and restore macroeconomic stability.
Nigeria’s stronger showing came as some other major African economies recorded declines in the latest assessment. Botswana dropped two places, while South Africa, which led the ranking last year, fell by one position, partly reflecting weaker economic growth prospects.
Mauritius ranked first among the 19 economies measured by Bloomberg, maintaining its position as the continent’s strongest performer on the investment-risk indicators used in the assessment.
For Nigeria, the four-place rise marks an improvement in its relative standing among African economies. Sustaining the progress, however, will depend on whether ongoing reforms lead to stronger economic growth, improved public finances and greater macroeconomic stability.
