The Africa Cup of Nations is underway in Morocco, with Nigeria’s Super Eagles among the 16 teams that made it to the knockout stage after three rounds of group matches.

As Africa’s biggest football showpiece gathers momentum, the spotlight has again fallen on the continent’s elite players, many of whom are seeking to cement their status as national icons.

More than 30 Premier League players are involved in the tournament, including Mohamed Salah, who left Liverpool supporters guessing with a cryptic farewell message, and Manchester United forward Bryan Mbeumo.

Across Europe’s top leagues, several other stars are expected to shape the competition, among them Morocco’s Achraf Hakimi and Nigeria’s Victor Osimhen.

Ivory Coast arrived in Morocco as defending champions, while Egypt remained the tournament’s most successful side with seven titles. Yet with squad values increasingly shaping expectations, the balance of power could shift as the competition unfolds.

Senegal boasts the highest squad market value at the tournament, estimated at €449m, representing a 64 per cent rise compared with their €274.4m valuation two years ago. Under head coach Pape Thiaw, they will hope to replicate the success of four years ago, when they lifted the trophy, having suffered a round of 16 exit at the hands of Ivory Coast in the last edition.

With attacking options such as Ismaila Sarr, Iliman Ndiaye and Nicolas Jackson, Senegal possesses the firepower to challenge deep into the tournament. Jackson, now at Bayern Munich, is the most valuable player in their squad at €50m, ahead of Everton’s Ndiaye at €45m. Crystal Palace winger Sarr and Tottenham midfielder Pape Matar Sarr are each valued at €35m, while Sunderland’s Habib Diarra adds further Premier League pedigree at €32m.

Morocco, hosts of this year’s finals, have also recorded a significant climb. Their squad valuation has risen by 26.3 per cent, from €347.4m to €438.65m, driven largely by the continued ascent of Achraf Hakimi and a core of players established across Europe’s elite leagues. That financial strength mirrors the growing expectation for the Atlas Lions to finally convert home advantage into continental success.

Defending champions Ivory Coast present a contrasting picture. Their squad value has remained largely static, increasing marginally by 1.3 per cent from €334.58m to €339.03m.

Nigeria, runners-up two years ago, are among the leading contenders once again as the fourth most valuable team at the event. However, it has been 12 years since the Super Eagles last won the title, and current squad valuations tell a more sobering story.

The Super Eagles’ overall market value has dropped by 18 per cent since 2023, falling from €349m to €286.5m. This decline is largely due to Osimhen’s valuation decreasing from €110m to €75m following his move to Galatasaray.

Despite this, Nigeria remain blessed with match winners, including Atalanta forward Ademola Lookman, who has contributed to four goals at the tournament so far, valued at €40m, and Fulham duo Calvin Bassey and Alex Iwobi, both of whom are expected to play key roles.

Cameroon also entered calculations as potential dark horses. Their squad value has risen by 85 per cent since the last tournament, one of the sharpest increases across all competing nations, placing them at €254m overall. Much of their valuation surge is driven by Mbeumo, now at Manchester United, whose value stands at €75m following his summer move from Brentford. Brighton midfielder Carlos Baleba, valued at €60m, has also been linked with a switch to Old Trafford, while defender Enzo Boyomo and forward Karl Etta Eyong further strengthen the squad’s profile.

Perhaps the most dramatic growth belongs to South Africa. Although still among the lowest valued squads overall, Bafana Bafana have recorded a 139.8 per cent increase, from €18.68m to €44.8m, reflecting improved exposure for domestic-based players and a gradual rebuilding process bearing financial fruit.

While these continue their push for the continental crown, Morocco’s Achraf Hakimi stands out as the most valuable player at the tournament. Valued at €80m, the Paris Saint-Germain right back carries the hopes of a host nation seeking their first AFCON title since 1976 and their first final appearance in 21 years.

Hakimi’s valuation is particularly striking, given that defenders are typically priced lower than forwards.

Osimhen remains Nigeria’s most valuable asset and one of the tournament’s headline names. Two years ago, he was among Europe’s most coveted strikers during his time at Napoli, and although his value has dipped since his move to Turkey, his importance to Nigeria has not diminished. He has scored 12 goals in 16 matches for his club this season and boasts 32 goals in 47 appearances for the Super Eagles.

Teammate Frank Onyeka has described him as a player “on a different level”, capable of frightening any defence.

Cameroon’s hopes are similarly tied to Mbeumo, who has seven goals in 27 international appearances and will aim to drive them beyond their round of 16 finish two years ago. Egypt, meanwhile, may rely heavily on Omar Marmoush, valued at €65m, with Mohamed Salah’s form under scrutiny. Marmoush has spoken of Egypt’s ambition to challenge for an eighth title, insisting the quality within the squad justifies lofty expectations.

Further down the valuation list, Baleba’s €60m price tag underlines his growing reputation, while Bayern striker Nicolas Jackson, valued at €50m, will relish the chance to lead Senegal’s attack with regular minutes at the international level.

As Nigeria continues its campaign, squad values may shape narratives, but history suggests AFCON often defies financial logic. For the Super Eagles, belief remains that individual quality, led by Osimhen and supported by a balanced squad under Eric Chelle, can once again bridge the gap between potential and continental glory.