In the latest FIFA rankings released on Thursday, Nigeria have slipped one spot, falling from 38th to 39th globally.
Nigeria, a Three-time African champion, experienced this drop following a disappointing performance during the June international window.
The Super Eagles lost 21.07 points in the July rankings but remain the 5th best team in Africa.
Currently without a coach, the team recently drew against South Africa and suffered a defeat to Benin Republic in FIFA World Cup qualifiers.
With the next qualifiers window set to begin in September, the Super Eagles risk further declines in the rankings if their performance does not improve.