This was in spite of the country's third-place position at the just-concluded African Nations Championship (CHAN) held from Jan 11 to Feb 1 in South Africa.
The West African country dropped from 41st in the world, with 616 points in the rankings table on the world football governing body's website Thursday.
It had 710 points in the January rankings.
The world football governing body had stated after the January rankings that results from the 2014 CHAN would be taken into consideration in the February rankings.
In the latest rankings, Nigeria dropped to the eighth position in Africa as against its January position of seventh in Africa and 41st in the world.
Among African nations, Nigeria is currently placed behind Cote d'Ivoire, Algeria, Cape Verde Island, Ghana, Egypt, Tunisia and Cameroon, according to the rankings.
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