Brand Nigeria Poised To Gain Investors Confidence, Ranks 8th Most Investable African Economy

Nigeria may be on its way to gaining more internal and external investors as it has recently moved up four places to become the eighth most investable economy in Africa, according to the 2026 Bloomberg Economics Investment Risk-O-Meter, a ranking that grades how risky each market is for investors.

Africa’s biggest oil producer and refiner, overtook Rwanda, Tanzania, Kenya and Namibia among the 19 African economies assessed. It rose from 12th position last year and was the biggest climber in this year’s edition. The result places Nigeria in the upper half of the table.

Bloomberg Economics said Nigeria improved in three of the five areas the gauge measures: economic strength, fiscal strength and external vulnerability.

The report has tied the rise to reforms introduced since 2023 under President Bola Tinubu, including the removal of the petrol subsidy, the freeing up of the foreign exchange market and changes to electricity tariffs.

Mauritius took the top spot, underscoring its steady strength across the indicators. South Africa, which led last year, slipped one place as its growth outlook weakened, while Botswana fell two places.

The improvement comes with a scrutiny on public finances. Nigeria’s total public debt rose from N87.38 trillion in June 2023 to N159.28 trillion in December 2025, according to the Debt Management Office.

The gauge is part of Bloomberg’s 2026 Investor’s Guide to Africa, which grades the continent’s most investable markets in five areas likely to influence financial returns. It weighs factors such as growth, debt, political risk and foreign reserves, converting them into scores so countries can be compared on equal terms. With two years of data now available, it shows which markets have improved since last year.

Other challenges also remain, including gaps in infrastructure, currency uncertainty and limited room in government spending. The possibility of holding onto this new position will depend on whether the reforms deliver stronger growth, healthier public finances and a steadier economy.