Nigeria Up Four Places on Bloomberg African Investment Risk Ranking

Nigeria has emerged as the biggest climber in the latest Bloomberg Economics Investment Risk-O-Meter, rising four places to eighth position among 19 African economies assessed for relative investment attractiveness.

The latest ranking, released on Monday, showed that Nigeria overtook Rwanda, Tanzania, Kenya and Namibia after recording improvements in three of the five indicators measured by the Bloomberg gauge.

The areas of improvement were economic strength, fiscal strength and external vulnerability.

Mauritius ranked first as Africa’s most investable economy, while South Africa, which topped the previous ranking, dropped one place amid weaker economic growth prospects. Botswana also fell two places.

Bloomberg attributed Nigeria’s improved position partly to economic reforms introduced since President Bola Tinubu assumed office in 2023. These include the removal of the petrol subsidy, reforms to the foreign exchange market and changes to electricity tariffs.

The reforms have been presented by the Federal Government as measures aimed at addressing long-standing economic distortions, strengthening public finances and improving the investment environment.

Nigeria’s economic growth has also strengthened during the period covered by the assessment. Real GDP growth averaged 3.19 per cent in 2024 and increased to 3.85 per cent in 2025. The economy expanded by 3.89 per cent in the first quarter of 2026.

However, the improved ranking comes amid continuing economic challenges. Nigeria’s public debt has risen substantially, while businesses and households continue to face pressure from high living costs, inflation, energy expenses and other adjustment costs linked to the reforms.

Data from the Debt Management Office showed that total public debt increased from N87.38 trillion in June 2023 to N159.28 trillion by December 2025.

Despite these concerns, Nigeria’s stronger position on the Bloomberg gauge indicates an improvement in its relative standing among African investment destinations.

The latest assessment places renewed attention on whether the country can sustain its recent economic gains, strengthen fiscal stability and translate improved macroeconomic indicators into greater investment and broader economic opportunities.