Nigeria rises four places to 8th in Bloomberg’s most investable markets ranking

Nigeria has climbed four places to the eighth position in the 2026 Bloomberg Economics Investment Risk-O-Meter ranking, surpassing Rwanda, Tanzania, Kenya, and Namibia. The improvement stems from reforms implemented by the Federal Government to tackle fiscal, foreign-exchange, and power-sector issues. Among the 19 African economies evaluated, Mauritius topped the list for relative investability.

The progress in Nigeria's ranking comes as the nation improved in economic strength, fiscal strength, and external vulnerability. This marks a contrast with weaker performances from other major African economies, with Botswana dropping two places and South Africa, which led last year's ranking, falling one spot due to less promising economic-growth outlooks.

The advancement follows a series of economic policy changes initiated since President Bola Tinubu's inauguration in 2023, including the elimination of gasoline subsidies, the liberalization of the foreign-exchange market, and the introduction of electricity tariffs to curb losses in the power sector. Nigeria's real GDP has remained positive since Tinubu's leadership began, with growth rates rising from 2.54% in the third quarter of 2023 to 3.46% in the fourth quarter.

This gradual expansion of economic activity bolsters Nigeria's stronger performance on the investment risk gauge. While Nigeria's revenue performance has improved, its public debt and debt-servicing obligations have also risen significantly since the current administration's tenure started. Despite the higher debt burden, Nigeria's improved standing in the Bloomberg ranking suggests its performance in economic strength, fiscal strength, and external vulnerability has strengthened compared to several other African economies.