The Super Eagles have moved two positions up and now occupy 30th spot in the latest FIFA rankings published on Thursday.
Nigeria are now ranked third in Africa, only behind Senegal and second-place Morocco.
Egypt and Tunisia complete the continent’s best five national teams.
Nigeria previously sat 32nd in the world and 5th in Africa before Thursday’s release.
It is a tiny ray of light in a dark moment for the Super Eagles after the former Afcon kings failed to qualify for the 2022 FIFA World Cup in Qatar on Tuesday.
Nigeria lost on away goal rule to Ghana after drawing 0-0 to the Black Stars in Kumasi and managing only a 1-1 draw in Abuja.
Nigeria’s conqueror, Ghana, swapped 61st position for 60th, while 56th-placed Burkina Faso beat the Black Stars to Africa’s top ten.
However, Brazil has overtaken Belgium as the number one team in the world, with the Red Devils settling for the second spot. France follow in third while Argentina and England complete the top five globally. Italy, Spain, Portugal, Mexico, Netherlands are all in the top 10.
Others that made the top 20 list are Denmark, Germany, Uruguay, Switzerland, USA, Croatia, Colombia, Wales, Sweden, and Senegal.