Nigeria climbed four places to eighth in the 2026 Bloomberg Economics Investment Risk-O-Meter, overtaking Rwanda, Tanzania, Kenya and Namibia as its performance improved across three of the five indicators assessed.

According to Bloomberg, Nigeria was among the notable movers in the scorecard, which ranks 19 African economies based on their relative investment attractiveness. Mauritius retained the top position.

The improvement comes as the Federal Government continues to implement economic reforms aimed at addressing longstanding fiscal, foreign exchange and power-sector challenges.

Nigeria’s improved position was driven by gains in economic strength, fiscal strength and external vulnerability, helping it rise to eighth place in the 2026 Bloomberg Economics Investment Risk-O-Meter.

“The continent’s biggest oil producer and refiner rose four places to eighth in the 2026 Bloomberg Economics Investment Risk-O-Meter, overtaking Rwanda, Tanzania, Kenya and Namibia as it improved in three of the five metrics assessed by the gauge — economic strength, fiscal strength and external vulnerability,” the Bloomberg report noted.

Nigeria’s improved position contrasts with weaker performances by some other major African economies. Botswana fell two places, while South Africa, which topped the ranking last year, dropped one position amid weaker economic growth outlooks.

The improvement follows a series of economic policy changes introduced since President Bola Tinubu took office in 2023, including the removal of the petrol subsidy, liberalisation of the foreign exchange market and the introduction of electricity tariffs aimed at reducing losses in the power sector.

Nigeria’s real Gross Domestic Product has continued to grow since Tinubu assumed office, although the economy still faces structural challenges.

GDP growth rose from 2.54 per cent in the third quarter of 2023 to 3.46 per cent in the fourth quarter.

GDP growth averaged 3.19 per cent in 2024, before strengthening to 3.85 per cent in 2025, the strongest annual performance during the period under review.

The economy expanded by 3.89 per cent in the first quarter of 2026, bringing average quarterly growth between the third quarter of 2023 and the first quarter of 2026 to approximately 3.46 per cent.

The figures point to a gradual expansion in economic activity during the period, supporting Nigeria’s improved performance on the investment risk gauge.