The latest vote of no confidence came from SBM Intelligence Africa Country Instability Risk Index which classified the country as vulnerable to instability in its 2024 report. Nigeria dropped six points on the Risk Index this year, scoring 45 compared with 39 in 2023. According to SBM Intelligence, a higher score in the risk index means a higher level of political risk to business. The report highlights Nigeria’s deteriorating economic environment, worsened by factors such as rising food inflation, insecurity, and rising poverty level as the drivers of instability in the country. Analysis of the 2024 SBM Intelligence Africa Country Instability Risk Index, shows that Sub-Saharan Africa recorded an average of 45.4 per cent in 2024, an improvement from 47.7 per cent in the previous year.

Source: The Guardian November 24, 2024 13:35 UTC