Nigeria Rises to 11th in Africa Investment Rankings

Nigeria has climbed seven places to 11th position in the 2026/2027 “Where to Invest in Africa” report by Rand Merchant Bank (RMB), marking the largest improvement among the countries assessed. This rise from 18th in the previous report indicates growing confidence in Nigeria's investment outlook, attributed to significant economic reforms.

Chief Economist at RMB, Isaah Mhlanga, noted that the earlier decline to 18th was a reaction to necessary reforms aimed at long-term growth. The report emphasizes that while Nigeria's market size is its greatest competitive advantage, challenges such as weaknesses in public institutions and dependence on oil exports hinder long-term resilience.

The RMB report also introduced a Resilience and Vulnerability Matrix to evaluate African economies' capacity to sustain investments amid economic pressures. It cautioned that an improved ranking does not guarantee sustainable investment opportunities and highlighted the need for stronger institutions and a diversified economy to attract long-term investments.