The Super Eagles have dropped to 35th in the latest FIFA Rankings despite recording a 1-1 draw with five-time world champions Brazil earlier this month.
Last month, the Eagles were 34th in the global rankings.
Nigeria also remain the third best team in Africa behind 2019 AFCON finalists Senegal and Tunisia, who Nigeria defeated 1-0 to claim third place at Egypt 2019.
The Eagles begin their 2021 AFCON qualifying campaign next month when they host Benin before they head out to Lesotho.
Benin are now ranked 82nd in the world by FIFA, while Lesotho are 138th.
The next FIFA ratings will be released on November 28.