Nigeria has emerged as the biggest climber in Africa’s latest investment risk ranking, jumping four places to 8th position as ongoing economic reforms enhance the nation’s appeal to international investors, according to a new Bloomberg report.
In the newly released 2026 Bloomberg Economics Investment Risk-O-Meter—which evaluates the relative investability of 19 African economies—Nigeria successfully leapfrogged Rwanda, Tanzania, Kenya, and Namibia.
According to Bloomberg’s An Investor’s Guide to Africa, the country’s upward momentum was driven by significant gains across three core evaluation metrics: economic strength, fiscal strength, and external vulnerability.
The report highlighted that the shift comes amid the policy trajectory under President Bola Tinubu, including foreign exchange market adjustments, the removal of the petrol subsidy, and electricity tariff revisions aimed at correcting long-standing fiscal distortions.
While Mauritius claimed the top spot in the continent-wide ranking, former leader South Africa dropped one place due to a muted growth outlook, and Botswana fell two spots.Nigeria’s rise reflects improving macroeconomic indicators. Real Gross Domestic Product (GDP) growth accelerated to 3.85% in 2025—its strongest annual performance in recent years—and recorded a 3.89% expansion in the first quarter of 2026.
However, the positive ranking arrives alongside ongoing domestic headwinds. Data from the Debt Management Office (DMO) reveals that Nigeria’s total public debt climbed from N87.38 trillion in June 2023 to N159.28 trillion by December 2025, driven by fresh borrowing, currency revaluations, and debt securitisation.
Despite the burden of rising debt and the short-term cost-of-living pressures on households, market analysts view Nigeria’s improved position on the Bloomberg index as a vital signal of restored investor confidence in Africa’s largest economy.
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