Why was Horatio Nelson made a baron after the Battle of the Nile?

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Horatio Nelson Lord Nelson, detail of an oil painting by J.F. Rigaud; in the National Maritime Museum, Greenwich, Eng.

Horatio Nelson was made a baron in recognition of his decisive victory at the Battle of the Nile in 1798.1

This engagement was one of the greatest victories of his career, resulting in the near-total annihilation of the French fleet anchored in Abū Qīr Bay. The battle had immense strategic consequences: it isolated Napoleon Bonaparte's army in Egypt, secured British control of the Mediterranean, and significantly heightened British prestige.21