The latest scorecard released yesterday, which assesses the relative investability of 19 African economies, ranked Mauritius first, while Nigeria overtook Rwanda, Tanzania, Kenya and Namibia to secure the eighth position.

Bloomberg said Nigeria’s improved ranking reflected gains in three of the five metrics assessed by the gauge – economic strength, fiscal strength and external vulnerability.

“The continent’s biggest oil producer and refiner rose four places to eighth in the 2026 Bloomberg Economics Investment Risk-O-Meter, overtaking Rwanda, Tanzania, Kenya and Namibia as it improved in three of the five metrics assessed by the gauge – economic strength, fiscal strength and external vulnerability,” Bloomberg said.

The development comes amid ongoing economic reforms by the Federal Government aimed at tackling longstanding fiscal, foreign exchange and power-sector challenges.

Nigeria’s improved standing follows a series of policy changes introduced since President Bola Tinubu assumed office in 2023, including the removal of the petrol subsidy, liberalisation of the foreign exchange market and the introduction of electricity tariffs aimed at reducing losses in the power sector.