Nigeria has overtaken nations like Botswana, Tanzania, Kenya and Namibia to clinch eighth position among 19 African economies assessed in the 2026 Bloomberg Economics Investment Risk-O-Meter, the UK-based newspaper announced on Monday.

From a distant 12th position, the West African nation ranked higher thanks to key improvements recorded in economic strength, fiscal strength and external vulnerability, which are three of Bloomberg’s five metric assessment areas.

“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 in the report.

Factors like Nigeria’s rebasing of its real Gross Domestic Product (GDP) contributed to its ranking, according to Yvonne Mhango, a seasoned Africa economist, whom Bloomberg quoted in its report.

“Nigeria is the standout mover. The rebasing of gross domestic product, stronger growth and an improved external position have lifted its macro credentials substantially. But weak institutions and infrastructure remain important constraints,” Ms Mhango said.

Mauritius came first for relative investability in the rankings that evaluated the economies of 19 African nations.

The growth was attributed to the economic policies of President Bola Tinubu’s administration, which scrapped the fuel subsidy and adopted a free-floating exchange rate system that allowed the market to dictate foreign exchange rates.

Rising debt, however, remained a challenge as Mr Tinubu’s administration continues to amass debt in three-digit trillions of naira.

Nigeria’s total public debt was N87.38 trillion as of June 30, 2023, a month after Mr Tinubu became president, according to the Debt Management Office (DMO). The amount had risen to N159.28 trillion as of December 31, 2025.