Super Eagles have dropped to 49th place on the latest FIFA Rankings released today.
They are joint 49th with 2018 World Cup hosts Russia, who moved 21 places after they reached the last-eight of the Mundial.
The Eagles, who failed to go past the group stage of the World Cup in Russia, are also seventh in Africa with Tunisia the leading team in 24th spot.
Nigeria’s 2019 AFCON rivals South Africa are 74th, Libya 101st and Seychelles 188th.
The Eagles take on Seychelles on September 6 in continuation of the AFCON qualifiers.
World Cup winners France rise six spots to top the rankings, ahead of Belgium, Brazil and Croatia, while Germany fall from first to 15th place.
France have taken over top spot from Germany after winning the tournament for the second time, with runners-up Croatia rising 16 spots to fourth. Host nation Russia were the biggest climbers in the rankings, up 21 places to 49th.
Germany have plummeted down the rankings following their exit at the group stage.
Argentina, down six places to 11th, Chile, down three places to 12th, and Poland, down 10 to 18th, also slipped out of the top 10.
England return to international action on 8 September when they face Spain in the Uefa Nations League at Wembley.
The latest FIFA rankings were created using a new formula approved by the governing body in June.
Full FIFA rankings
FIFA men’s rankings
1 France (+6)
2 Belgium (+1)
3 Brazil (-1)
4 Croatia (+16)
5 Uruguay (+9)
6 England (+6)
7 Portugal (-3)
8 Switzerland (-2)
9 Spain (+1), Denmark (+3)
15 Germany (-14)
17 Netherlands (-)
19 Wales (-1)
21 Italy (-2)
27 Northern Ireland (+2)
29 Republic of Ireland (+2)
40 Scotland (+2)