Nigeria has risen seven places to 11th in RMB’s 2026/27 Where to Invest in Africa report, marking the largest movement in this year’s rankings and indicating that recent economic reforms are strengthening the country’s investment outlook.
The improvement follows a period of significant adjustment. Nigeria ranked 9th in 2024/25 before falling to 18th in 2025/26 as the economy absorbed the short-term impact of key reforms. Its rise to 11th points to improving stability, although structural challenges linger.
“Last year’s decline was the immediate reaction to necessary long-term reform. Nigeria’s improved position now reflects the view that the economy has been set on a more stable course. Good policy decisions are hard to make and implement, but they ultimately drive investment and economic growth,” says Isaah Mhlanga, Chief Economist at RMB.
Attractiveness today, durability tomorrow
The report highlights the importance of viewing Nigeria’s performance over time. While the latest ranking signals
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