This followed their impressive 79-70 victory over Canada in their final group game on Sunday.
The team accumulated five classification points and initially topped Group B.
However, their standing shifted when Australia triumphed over France 79-72 in the other group match, pushing Nigeria down to third place in the group rankings.
The team is now set to face the defending champions, USA on August 7 at 9:30 pm.
The encounter is the second Olympic face-off between the two teams.
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