Nigeria have dropped to the 49th spot in the August Fifa ranking.
The Super Eagles went to the 2018 Fifa World Cup placed as the 48th best footballing nation in the world but a poor showing in Russia has seen them drop by a spot for the second consecutive month.
At the quadrennial event, the three-time African champions managed a win and two defeats in three games which was not enough to have them progess to the knockout stage.
Gernot Rohr's men began their campaign with a 2-0 defeat to Croatia, followed by a 2-0 win over Iceland before their Round of 16 chances was dealt a huge blow after a 2-1 loss to Argentina in their final Group D game.
The Super Eagles have a chance to improve on their ranking when they take on Seychelles in the 2019 Africa Cup of Nations qualifiers during the next Fifa international break on September 8.