The game saw Algeria taking the lead after Williams Troost-Ekong scored an own goal in the first half.
The score line was leveled after half -time as Odion Ighalo converted a spot kick following a VAR decision.
However, hopes of seeing the game go into extra-time was dashed as Mahrez converted a brilliant free-kick to send Algeria to the final.
Speaking after the game, Daniel Akpeyi said:
“It’s very tough and very sad that we have to lose in that manner, to have conceded through that kind of free-kick.
“Hard luck played its part in the Super Eagles Sunday night defeat to Algeria.
“I wish there can be a replay, but it’s over now and we have to look up to the third-place game,” the 32-year old goalkeeper said as he would rather focus on the future away from the loss.
“So far, it doesn’t matter whatever anyone would say about the team. These players have actually tried. A lot of teams have been knocked out of this competition but we are still here.”
“We have very young talent and I’m very sure if this team can be given a chance, we’ll be able to fix things,” Akpeyi concluded.