Naira, Inflation Pushes Nigeria Into Vulnerable Status on Africa Country Instability Risk Index [Video]

• The state of the economy has pushed Nigeria into a vulnerable status in the African Country Instability Risk Index (ACIRI) for 2024
• The ACIRI developed by SBM Intelligence assesses the political, economic, and social factors contributing to the region’s political instability
• Bunmi Bailey, head of research, explained to Legit.ng what Nigerians should do to reverse poor ranking

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Nigeria’s economic challenges, marked by the depreciation of the naira and persistent inflation, have contributed to its slide into a “vulnerable status” on the African Country Instability Risk Index (ACIRI) for 2024.

The index compiled by SBM Intelligence scored Nigeria’s risk level at 45, reflecting a change of -6 compared to 39 in 2023.

The report noted that Nigeriais faced with …