Nigeria finished as runners up in Group F behind Argentina to book their third appearance in the knockout stages at the expense of Bosnia-Herzegovina and Iran.
However, as in 1994 and 1998, Nigeria tumbled out at the second round after a 2-0 defeat to France in Brasilia.
In their previous two appearances at the global showpiece, Nigeria failed to win a single match and finished bottom of their group which Ambrose, who played every minute in Brazil, believes shows the progress they have made.
"I believe that in time this will be the best team Nigeria will ever produce," he told Africanfootball.com.
"We have to give ourselves credit for the determination, the zeal and the will power to win, we proved a point at the World Cup.
"We will carry on from here, there are AFCON qualifiers and the next World Cup."
The defending Africa Cup of Nations champions will begin qualifying for the tournament in Morocco in September, and will meet South Africa, Sudan and either Congo or Rwanda in their group.
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