Gernot Rohr’s men moved up 10 places from 60th place in October to 50th in November, and are placed sixth in Africa.
The Super Eagles points haul also improved from 562 to 616 in the month under review.
The impressive rise is largely due to their 2018 FIFA World Cup qualifying victories against Zambia and Algeria which see them top their group.
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Nigeria won their two games, Zambia 2-1 and Algeria 3-1, top Group B with six points.
The Super Eagles are sixth in Africa, joint with Burkina Faso after being out of the top 10 for a long time. They are ranked behind Africa’s number one team Senegal (33), (both in 34), Egypt (36), Algeria (38), Congo (47) and Burkina Faso and Nigeria (both in 50).
Argentina remain number one spot in the world with Brazil moving one spot to second, with reigning world champions, Germany dropping one spot to third.
Copa America champions Chile, and Belgium make up the top five.
Colombia, France, Euro 2016 champions Portugal, Uruguay and Spain make up the top ten spots.
The next Fifa ranking will be published on December 22, 2016.