For the second consecutive time in two months, the Super Eagles have seen their squad market value drop in the transfer market.

Despite finishing second at the 2023 Africa Cup of Nations in Ivory Coast in February, the three-time African champions suffered a massive drop of €121m, the first this year.

They dropped down two steps and are now ranked the 15th most valuable international team in the world, while retaining their position as the most financially valuable team in Africa.

The Eagles boast players who ply their trade in Europe’s lucrative leagues, making them one of the world’s most valuable teams, with a total value of €343m, which, according to the official exchange rate of the naira to Euro on Tuesday (N1,319), amounted to N452bn.

In March 2023, they were placed 13th with a market value of €345m.

Their squad value witnessed a decrease of €2m compared to the squad’s previous value.

Bayer Leverkusen sensation Victor Boniface was left out of the Eagles squad in the latest information provided by Transfermarkt, as the striker recently returned to action and has yet to feature for Nigeria this year.

Boniface has a market value of €40m, and his inclusion in the team would have bolstered the team’s squad value, with Atalanta’s Ademola Lookman (valued at €30m) the second most expensive player after Victor Osimhen, who is valued at €110m.

The introduction of players like Fisayo Dele-Bashiru (€1.8m), Tyrone Ebuehi (€2.5m), Ojo Olorunleke (€100k) and several other fringe players resulted in the devaluation of the squad.

Among all the three goalkeepers included in the squad by Transfermarkt, Francis Uzoho has the highest value of €450,000, while Stanley Nwabali and Olorunleke Ojo, according to the website, are both valued at €250,000 and €100,000, respectively.

In defence, aside from Calvin Bassey, whose value stands at €16m, no other defender is worth €10m, with Bright Osayi-Samuel the nearest with €8.5m.

After missing the last friendlies against Ghana and Mali in Marrakech, Morocco, William Troost Ekong (€2m) was omitted from the squad and replaced with Benjamin Tanimu, who, according to Transfermarkt, currently has no market value.

Kenneth Omeruo (€2m), Chidozie Awaziem (€3m), Semi Ajayi (€1.8m), Zaidu Sanusi (€3m) and Bruno Onyemaechi (€3m) are all merely €12.8m combined.

Meanwhile, Africa Player of The Year, Osimhen, who according to Transfermarkt has a market value of €110m, is Nigeria’s most expensive player, with his value worth almost half of the entire squad.

Fulham star Alex Iwobi is currently ranked as the third most valuable player with a market value of €28m.

Surprisingly, Samuel Chukwueze and Terem Moffi, who have a €25m valuation each, were not included in the Eagles squad, while Wilfred Ndidi, who was once valued at a massive €60m, is currently valued at €16m.

Players like Moses Simon, Calvin Bassey, Ola Aina and Frank Onyeka saw little rise in their market values.

The Eagles are trailed by Morocco and Ivory Coast, AFCON champions, who were second in Africa in March and are now third on the continent and 18th globally with a value of €312m.

Morocco experienced a little increase in their squad value, rising from the previous €294m valuation to €321m, and it was enough to see them climb to second in Africa and 17th globally.

Senegal remain fourth on the continent with a value of €289m, while Algeria (€243m) also maintain their fifth position.

England cemented their position as the most financially valuable team in the world with a market value of €1.47bn, while France occupy the second position with a €1.21bn squad value.

Portugal (€1.06bn), Brazil (€943m) and Spain (€906m) complete the top five national teams in the world.