Bloomberg Ranks Nigeria Eighth Most Investable African Economy
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, recording the biggest improvement among the economies surveyed. Bloomberg attributed the rise to stronger performances in economic strength, fiscal strength and external vulnerability, with Nigeria moving ahead of Rwanda, Tanzania, Kenya and Namibia. Mauritius took the top position, replacing South Africa, which dropped one place, while Botswana fell two spots. Nigeria’s improved ranking comes against the backdrop of major economic reforms introduced since 2023, including the removal of petrol subsidy, foreign exchange market reforms and electricity tariff changes, which the Federal Government has said are aimed at correcting market distortions, improving fiscal sustainability and attracting investment. However, the reforms have also increased adjustment pressures on households and businesses through higher energy, transport and food costs.
The assessment comes as Nigeria records continued economic growth despite persistent fiscal, infrastructure and institutional challenges. The economy expanded by 3.85 per cent in 2025, before growing by 3.89 per cent in the first quarter of 2026 and 4.43 per cent in the second quarter. Bloomberg’s assessment also pointed to improvements in fiscal conditions and external vulnerability, although Nigeria remains exposed to high debt-service costs, foreign exchange pressures and its heavy dependence on crude oil earnings. Data from the Debt Management Office showed that public debt rose from N87.38tn as of June 2023 to N159.28tn by December 2025, reflecting new borrowing, exchange-rate effects and the securitisation of some legacy obligations. The latest ranking therefore presents a mixed picture of Nigeria’s economic transition: the country’s relative position among African markets has strengthened, but sustaining the improvement will depend on how effectively the government addresses debt, infrastructure, power supply, foreign exchange and other structural constraints.
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