Tinubu reforms propel Nigeria as Africa’s biggest climber in investment ranking

Since taking office in May 2023, Tinubu’s administration has removed the petrol subsidy and overhauled the foreign exchange market, policies that initially triggered significant inflationary and currency pressures but were designed to address longstanding distortions in the economy. Read also: nigeria-moves-to-make-three-years-of-economic-reform-durable The reforms have also been accompanied by efforts to improve government revenue, strengthen fiscal management and attract capital into key sectors of the economy. Nigeria’s improved position comes as economic growth has remained positive despite the adjustment costs associated with the reforms. The economy grew to the fastest pace in five years, at 4.43 per cent year-on-year in the second quarter of 2026, according to the National Bureau of Statistics, supporting Bloomberg’s assessment of an improvement in the country’s economic strength. However, the rise in the ranking comes alongside a substantial increase in Nigeria’s public debt. Data from the Debt Management Office showed total public debt at N159.28 trillion ($111.9 billion) at the end of 2025, up from N87.38 trillion ($61.4 billion) in June 2023. The increase reflected new borrowing, exchange-rate effects and the securitisation of outstanding obligations. Despite the rise in debt, Nigeria’s improved fiscal-strength score suggests that investors are increasingly assessing the country not only through the size of its liabilities but also through changes in government revenue, fiscal reforms and the broader direction of public finances. Read also: Nigerias-reform-gains-risk-stalling-without-productivity-push-cppe-warns The improvement in external vulnerability is also important for foreign investors, given Nigeria’s history of foreign-exchange shortages and restrictions that previously made it difficult for businesses to repatriate capital and access dollars. The Central Bank of Nigeria’s shift towards a more market-driven foreign exchange regime has been central to the administration’s reform programme. Nigeria overtakes four African markets Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Read also: nigeria-moves-to-make-three-years-of-economic-reform-durable The reforms have also been accompanied by efforts to improve government revenue, strengthen fiscal management and attract capital into key sectors of the economy. Nigeria’s improved position comes as economic growth has remained positive despite the adjustment costs associated with the reforms. The economy grew to the fastest pace in five years, at 4.43 per cent year-on-year in the second quarter of 2026, according to the National Bureau of Statistics, supporting Bloomberg’s assessment of an improvement in the country’s economic strength. However, the rise in the ranking comes alongside a substantial increase in Nigeria’s public debt. Data from the Debt Management Office showed total public debt at N159.28 trillion ($111.9 billion) at the end of 2025, up from N87.38 trillion ($61.4 billion) in June 2023. The increase reflected new borrowing, exchange-rate effects and the securitisation of outstanding obligations. Despite the rise in debt, Nigeria’s improved fiscal-strength score suggests that investors are increasingly assessing the country not only through the size of its liabilities but also through changes in government revenue, fiscal reforms and the broader direction of public finances. Read also: Nigerias-reform-gains-risk-stalling-without-productivity-push-cppe-warns The improvement in external vulnerability is also important for foreign investors, given Nigeria’s history of foreign-exchange shortages and restrictions that previously made it difficult for businesses to repatriate capital and access dollars. The Central Bank of Nigeria’s shift towards a more market-driven foreign exchange regime has been central to the administration’s reform programme. Nigeria overtakes four African markets Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The reforms have also been accompanied by efforts to improve government revenue, strengthen fiscal management and attract capital into key sectors of the economy. Nigeria’s improved position comes as economic growth has remained positive despite the adjustment costs associated with the reforms. The economy grew to the fastest pace in five years, at 4.43 per cent year-on-year in the second quarter of 2026, according to the National Bureau of Statistics, supporting Bloomberg’s assessment of an improvement in the country’s economic strength. However, the rise in the ranking comes alongside a substantial increase in Nigeria’s public debt. Data from the Debt Management Office showed total public debt at N159.28 trillion ($111.9 billion) at the end of 2025, up from N87.38 trillion ($61.4 billion) in June 2023. The increase reflected new borrowing, exchange-rate effects and the securitisation of outstanding obligations. Despite the rise in debt, Nigeria’s improved fiscal-strength score suggests that investors are increasingly assessing the country not only through the size of its liabilities but also through changes in government revenue, fiscal reforms and the broader direction of public finances. Read also: Nigerias-reform-gains-risk-stalling-without-productivity-push-cppe-warns The improvement in external vulnerability is also important for foreign investors, given Nigeria’s history of foreign-exchange shortages and restrictions that previously made it difficult for businesses to repatriate capital and access dollars. The Central Bank of Nigeria’s shift towards a more market-driven foreign exchange regime has been central to the administration’s reform programme. Nigeria overtakes four African markets Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Nigeria’s improved position comes as economic growth has remained positive despite the adjustment costs associated with the reforms. The economy grew to the fastest pace in five years, at 4.43 per cent year-on-year in the second quarter of 2026, according to the National Bureau of Statistics, supporting Bloomberg’s assessment of an improvement in the country’s economic strength. However, the rise in the ranking comes alongside a substantial increase in Nigeria’s public debt. Data from the Debt Management Office showed total public debt at N159.28 trillion ($111.9 billion) at the end of 2025, up from N87.38 trillion ($61.4 billion) in June 2023. The increase reflected new borrowing, exchange-rate effects and the securitisation of outstanding obligations. Despite the rise in debt, Nigeria’s improved fiscal-strength score suggests that investors are increasingly assessing the country not only through the size of its liabilities but also through changes in government revenue, fiscal reforms and the broader direction of public finances. Read also: Nigerias-reform-gains-risk-stalling-without-productivity-push-cppe-warns The improvement in external vulnerability is also important for foreign investors, given Nigeria’s history of foreign-exchange shortages and restrictions that previously made it difficult for businesses to repatriate capital and access dollars. The Central Bank of Nigeria’s shift towards a more market-driven foreign exchange regime has been central to the administration’s reform programme. Nigeria overtakes four African markets Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The economy grew to the fastest pace in five years, at 4.43 per cent year-on-year in the second quarter of 2026, according to the National Bureau of Statistics, supporting Bloomberg’s assessment of an improvement in the country’s economic strength. However, the rise in the ranking comes alongside a substantial increase in Nigeria’s public debt. Data from the Debt Management Office showed total public debt at N159.28 trillion ($111.9 billion) at the end of 2025, up from N87.38 trillion ($61.4 billion) in June 2023. The increase reflected new borrowing, exchange-rate effects and the securitisation of outstanding obligations. Despite the rise in debt, Nigeria’s improved fiscal-strength score suggests that investors are increasingly assessing the country not only through the size of its liabilities but also through changes in government revenue, fiscal reforms and the broader direction of public finances. Read also: Nigerias-reform-gains-risk-stalling-without-productivity-push-cppe-warns The improvement in external vulnerability is also important for foreign investors, given Nigeria’s history of foreign-exchange shortages and restrictions that previously made it difficult for businesses to repatriate capital and access dollars. The Central Bank of Nigeria’s shift towards a more market-driven foreign exchange regime has been central to the administration’s reform programme. Nigeria overtakes four African markets Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

However, the rise in the ranking comes alongside a substantial increase in Nigeria’s public debt. Data from the Debt Management Office showed total public debt at N159.28 trillion ($111.9 billion) at the end of 2025, up from N87.38 trillion ($61.4 billion) in June 2023. The increase reflected new borrowing, exchange-rate effects and the securitisation of outstanding obligations. Despite the rise in debt, Nigeria’s improved fiscal-strength score suggests that investors are increasingly assessing the country not only through the size of its liabilities but also through changes in government revenue, fiscal reforms and the broader direction of public finances. Read also: Nigerias-reform-gains-risk-stalling-without-productivity-push-cppe-warns The improvement in external vulnerability is also important for foreign investors, given Nigeria’s history of foreign-exchange shortages and restrictions that previously made it difficult for businesses to repatriate capital and access dollars. The Central Bank of Nigeria’s shift towards a more market-driven foreign exchange regime has been central to the administration’s reform programme. Nigeria overtakes four African markets Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Data from the Debt Management Office showed total public debt at N159.28 trillion ($111.9 billion) at the end of 2025, up from N87.38 trillion ($61.4 billion) in June 2023. The increase reflected new borrowing, exchange-rate effects and the securitisation of outstanding obligations. Despite the rise in debt, Nigeria’s improved fiscal-strength score suggests that investors are increasingly assessing the country not only through the size of its liabilities but also through changes in government revenue, fiscal reforms and the broader direction of public finances. Read also: Nigerias-reform-gains-risk-stalling-without-productivity-push-cppe-warns The improvement in external vulnerability is also important for foreign investors, given Nigeria’s history of foreign-exchange shortages and restrictions that previously made it difficult for businesses to repatriate capital and access dollars. The Central Bank of Nigeria’s shift towards a more market-driven foreign exchange regime has been central to the administration’s reform programme. Nigeria overtakes four African markets Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The increase reflected new borrowing, exchange-rate effects and the securitisation of outstanding obligations. Despite the rise in debt, Nigeria’s improved fiscal-strength score suggests that investors are increasingly assessing the country not only through the size of its liabilities but also through changes in government revenue, fiscal reforms and the broader direction of public finances. Read also: Nigerias-reform-gains-risk-stalling-without-productivity-push-cppe-warns The improvement in external vulnerability is also important for foreign investors, given Nigeria’s history of foreign-exchange shortages and restrictions that previously made it difficult for businesses to repatriate capital and access dollars. The Central Bank of Nigeria’s shift towards a more market-driven foreign exchange regime has been central to the administration’s reform programme. Nigeria overtakes four African markets Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Read also: Nigerias-reform-gains-risk-stalling-without-productivity-push-cppe-warns The improvement in external vulnerability is also important for foreign investors, given Nigeria’s history of foreign-exchange shortages and restrictions that previously made it difficult for businesses to repatriate capital and access dollars. The Central Bank of Nigeria’s shift towards a more market-driven foreign exchange regime has been central to the administration’s reform programme. Nigeria overtakes four African markets Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The improvement in external vulnerability is also important for foreign investors, given Nigeria’s history of foreign-exchange shortages and restrictions that previously made it difficult for businesses to repatriate capital and access dollars. The Central Bank of Nigeria’s shift towards a more market-driven foreign exchange regime has been central to the administration’s reform programme. Nigeria overtakes four African markets Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The Central Bank of Nigeria’s shift towards a more market-driven foreign exchange regime has been central to the administration’s reform programme. Nigeria overtakes four African markets Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Nigeria’s four-place rise puts it ahead of Rwanda, Tanzania, Kenya and Namibia in Bloomberg’s latest assessment. The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

The movement is notable because Kenya, Rwanda and Tanzania have increasingly positioned themselves as preferred destinations for international investors seeking exposure to East Africa, while Namibia has benefited from its relatively stable macroeconomic environment and emerging energy opportunities. Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Nigeria’s improved ranking therefore strengthens its position in the competition for foreign capital on the continent Mauritius retained the top position in Bloomberg’s ranking, while South Africa dropped one place amid concerns over its economic growth outlook. Botswana also fell two places. For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

For Nigeria, the ranking comes at a time when the government is seeking to convert macroeconomic reforms into stronger investment and economic growth. Related News Joshua vs Fury: Inside the no-rematch clause Custodian asset management launches, signs off N20bn money market fund What the new Nigeria Tax Act demands and how chains and channels professionals is using AI to meet it Faith Omoboye Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance. Share

Faith Omoboye is a foreign affairs correspondent with background in History and International relations. Her work focuses on African politics, diplomacy, and global governance.