October 2023

1st October 2023

31 October 2023
ThisDay
Nigeria, 17 Others Considered Safe, Stable for Multinationals’ Investments
Nigeria and 17 other African countries where ranked as safe and stable investment destinations for multinationals in terms of political risk for business. This was contained in a recent report published by SBM Intelligence, titled “Africa Country Instability Risk Index (ACIRI)…

30 October 2023
Marketing Edge
How Nigerians leverage digital lenders to survive economic reality
Notwithstanding the psychological torture and emotional trauma regularly meted on loan defaulters by loan app operators, many Nigerians are consistently turning to these platforms as a means of coping with the current food inflation and weathering the storms of economic hardship.

28 October 2023
Daily Independent
Nigeria Rated Stable Despite Naira Depreciation, Multidimensional Poverty Pressures
SBM Intelligence, a leading research and risk consultancy firm in Nigeria, has announced the release of the “Africa Country Instability Risk Index” (ACIRI) which assesses the political stability risks in Sub-Saharan Africa…

Leadership
3,620 Persons Abducted Across Nigeria’s 6 Geo-political Zones In 1 Year — Don
About 3,620 persons have been kidnapped with about 570 killed during the kidnap incidents in Nigeria between July 2022 and June 2023 with the attacks taking place more in North-West geo-political zone of the country where bandits were also killing residents…

Sun Nigeria
Restoring Nigeria’s higher education: A path to prosperity
Higher education stands as the cornerstone upon which a nation shapes its destiny. It is the crucible where ideas and innovations are forged, nurturing the intellectual capital essential for progress across all sectors…

26 October 2023
CNBC Africa
SBM instability risk index places 5 SSA countries on red watch
In their latest report outlining the country Instability risks on the continent, SBM Intelligence says that the DRC, Central African Republic, Chad and Sudan present the highest risks for regime change. Ikemesit Effiong, Partner at SBM Intelligence joins me now for more insight on this report…

Western Post
CSOs partner to launch report on #EndSARS judicial panels
A coalition of civil right groups, have announced to launch a report on the nationwide #ENDSars protest that rocked many parts of the country in 2021. The report will be in collaboration with other organizations including SBM intelligence, YAIGA Africa and the National Human Right Commission (NHRC)…

25 October 2023
BusinessDay
Nigerians turn to loan apps as inflation bites
Nigerians are turning to loan apps as a means of coping with the challenge of rising food inflation. A study by SBM Intelligence found that 27 percent of Nigerians across different income categories now resort to loan apps to keep up with their living expenses in the wake of record inflation…

Joy News
African Country Instability Risk Report: Economic downturn put Ghana at risk of instability
DRC, CAR, Chad and Sudan have been identified as the African countries most susceptible to regime change. Joy News in Accra are joined via Zoom by Ikemesit Effiong from Lagos to focus on Ghana’s ranking in the risk report…

News Central TV
African Instability Risk Index Puts Focus On Economy
The African Country Instability Risk Report, created by SBM Intel, provides a comprehensive evaluation of the political, economic, and social factors contributing to political instability in Sub-Saharan Africa. This report dissects the unique challenges and opportunities present in different African regions, offering valuable insights for stakeholders…

Nigeria’s Worsening Economy: CBN Governor to Appear Before House of Reps on FX Ban
A House of Representatives member, Hon. Sada Soli, has cautioned that the lifting of the ban on foreign exchange for 43 items by the Central Bank of Nigeria may ruin the local economy…

23 October 2023
BusinessDay
EiE Nigeria, SBM, others set to release facts from #EndSARS panel report
Three years after the historic #ENDSARS protests, EiE Nigeria, in collaboration with the National Human Rights Commission, Yiaga Africa, and SBM Intelligence, will launch a comprehensive report shedding light on the progress of the judicial panels established to address police brutality and related issues in Nigeria…

Instability index puts Nigeria’s economy on ‘warning’ status
Nigeria’s economy is on “warning” status, according to a new index that assesses the political stability risks in 47 African countries. The Africa Country Instability Risk Index (ACIRI), developed by SBM Intelligence, a leading research and risk consultancy firm in Nigeria, ranked Nigeria 60% in the “Economy” macro risk indicator category…

Nigeria’s slow PMI expansion signals weaker economic growth
Nigeria’s economic growth for the third quarter of 2023 is projected to be weaker on the back of the slow expansion in the monthly Purchasing Managers’ Index (PMI), analysts have said. This comes before the National Bureau of Statistics (NBS) is expected to release the country’s Gross Domestic Product (GDP) report for Q3 next month…

Business Insider
Troubling statistics show the grim reality of Nigerians earning minimum wage
The global economic landscape has been marked by uncertainty in recent years, and Nigeria is no exception. With fluctuating oil prices, inflation, and the challenges posed by other macroeconomic factors, many Nigerians have found themselves living with reduced incomes…

Guardian Nigeria
‘27% of Nigerians use loan apps to maintain living expenses’
A new study conducted by SBM Intelligence has revealed that 27 per cent of Nigerians across different income categories now resort to loan apps to keep up with their living expenses in the wake of a record inflation…

The Nation
Report rates Nigeria’s economic, political climates ’stable’
A continental risk assessment intelligence has ranked Nigeria as stable, highlighting the country’s resilient socio-political and economic environment. The Africa Country Instability Risk Index (ACIRI) assesses political stability risks in 47 African countries, serving as a major decision-making index for national and international stakeholders…

Punch
SBM Intelligence rates Nigeria as stable
Nigeria has been rated as ‘stable’ by research and risk consultancy firm, SBM Intelligence, in its latest “Africa Country Instability Risk Index”, which assesses political stability risks in 47 sub-Saharan African nations…

Voice of Nigeria
Research, Consultancy Firm Rates Nigeria As Stable
Nigeria has been rated as ‘stable’ by research and risk consultancy firm, SBM Intelligence, in its latest “Africa Country Instability Risk Index”, which assesses political stability risks in 47 sub-Saharan African nations. It stated that Nigeria was rated as ‘stable’ based on the overall macro indicator score…

The Will
SBM Intelligence Puts Nigeria’s Economy on ‘Warning’ Status
SBM Intelligence, a leading research and risk consultancy firm in Nigeria, has stated that Nigeria’s economy is on ‘warning’ status as it ranked 60% in the “Economy” macro-risk indicator…

22 October 2023
Nairametrics
New study shows 27% of Nigerians now use loan apps to keep up with their expenses
A new study conducted by SBM Intelligence reveals that 27% of Nigerians across different income categories now resort to loan apps to keep up with their expenses in the wake of record inflation…

20 October 2023
Punch
Kidnappers on the rampage
Nigeria is under siege from assorted criminals. Lately, there has been a spike in the kidnapping segment resulting in renewed security shocks. Reports emerge daily around the country of assailants attacking and kidnapping citizens either for ransom, or ritual purposes. In the north, terrorists and bandits are kidnapping girls and young women as sex slaves, “brides” and camp attendants. This is another major challenge for President Bola Tinubu and his security chiefs.

Vanguard
Nigeria’s economy on “warning” status – Report
SBM Intelligence, a leading research and risk consultancy firm in Nigeria, has stated that Nigeria’s economy is on ‘warning’ status as it ranked 60% in the “Economy” macro-risk indicator…

18 October 2023
Channels Television
Risk Index For Africa And Implications
SBM partner, Ikemesit Effiong, explains the SBM Aciri index on Channels Television, why it is necessary, and what the increasing instability on the African continent could mean for investors, businesses, and the wider economy in Africa…

Leadership
Food Inflation and Price Of Rice
According to the Food and Agriculture Organization, in 2000, a 50kg bag of rice averaged ₦2,500. In 2014, according to the National Bureau of Statistics, a 50kg bag of rice averaged ₦10,000. According to surveys by SBM Intelligence, at the end of June 2020, a 50kg bag of rice went for an average of ₦26,000…

17 October 2023
The Africa Report
Is China strengthening its grip on Africa’s security landscape?
Last month, China’s proactive approach in bolstering security cooperation through the China-Africa Peace and Security Forum garnered attention, with more than 100 delegates, representatives, and defence officials from 50 African countries participating in the event…

16 October 2023
BusinessDay
SBM Intelligence names Ikemesit Effiong as new partner
SBM Intelligence, an African geopolitical risk consulting firm has announced Ikemesit Effiong as its new partner. Effiong has been with the firm for over five years where he was serving most recently as head of research, according to a statement…

Business Post
Nigeria stable in new African Instability Risk Index
The SBM Intelligence African Country Instability Risk Report Index (ACIRI) has ranked Nigeria as a stable African country based on select macro indicators benchmarks. The report which was published on Monday assesses the political, economic and social factors contributing to Sub-Saharan Africa’s political instability…

Gabon Review
Risque d’instabilité en Afrique : le Gabon dans la zone rouge
Victime d’un coup d’État militaire à la tête du pays dans la nuit du 30 août dernier, le Gabon, malgré son qualificatif légendaire de «pays de paix et de stabilité», vient d’être orienté dans la colonne des États d’Afrique subsaharienne, politiquement instables de l’indice sur les risques d’instabilité des pays africains (ACIRI) de SBM, publié ce lundi 16 octobre 2023…

14 October 2023
Nigerian Tribune
Vice President, Shettima to launch ₦2bn SMEs empowerment fund
Nigeria’s Vice President, Senator Kashim Shettima, is expected to launch the ₦2 billion support fund for Small and Medium Enterprises (SMEs) initiated by the Nigerian Association of Small and Medium Enterprises (NASME) penultimate week…

ThisDay
Kalu: Sit-at-home in S’East Affected Movement of Goods between North, South
The Deputy Speaker of the House of Representatives, Hon. Benjamin Okezie Kalu, has said that the observance of sit-at-home in the South-east on Mondays affected the movement of goods between the Northern and the Southern parts of Nigeria…

13 October 2023
Reuters
Nigeria buying fuel with cash, rather than crude, in post-reform shift
Nigerian state oil company NNPC has begun buying gasoline via cash tenders, rather than oil swaps, for the first time in nearly a decade, four sources familiar with the matter told Reuters…

12 October 2023
News Central TV
NNPCL Back To Being The Sole Importer Of Petrol In Nigeria
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has officially confirmed the reinstatement of the fuel subsidy in Nigeria under President Bola Tinubu. Initially, President Tinubu had announced the removal of the fuel subsidy on his first day in office, leading to a significant increase in fuel prices, with rates soaring from ₦197 to a range between ₦480 and ₦570 per litre. Subsequently, the pump price was further adjusted to ₦620…

10 October 2023
AP
Gunmen abduct 4 students of northern Nigerian university, the third school attack in one month
Gunmen abducted four university students in northern Nigeria during an attack early Tuesday, police said, the latest in a series of school abductions that have raised security concerns under the nation’s new president…

PulseNG
CSP James Nwafor remains free as #EndSARS 3rd anniversary looms
On the eve of the third anniversary of the groundbreaking #EndSARS protests, EiE Nigeria, joined by the National Human Rights Commission (NHRC), Yiaga Africa, and SBM Intelligence, revealed a report, spotlighting the infamous figure of CSP James Nwafor, a former Anambra SARS official…

9 October 2023
The Economist
Where will the next coup be in Africa?
Confused reports of shooting in the capital, sudden troop movements in the streets, men in fatigues looming on television: such is the rhythm of coups. That beat was less frequently heard in Africa in the early 2010s as the clamour of nascent democracy drowned it out. Now armies are marching to the old drums again…

8 October 2023
BusinessDay
Insecurity still a nightmare despite Tinubu’s assurances
In October 2022, during his presidential campaign, President Bola Tinubu in an interactive session organised by a joint committee of Arewa groups in Kaduna, assured the group that he would tackle insecurity if elected president and that every inch of Nigeria’s national territory would be secured and defended…

5 October 2023
Guardian Nigeria
SBM Intelligence elevates Ikemesit Effiong to partner
SBM Intelligence, a leading African geopolitical risk consulting firm, has announce the elevation of Ikemesit Effiong to Partner. Mr Effiong has been with SBM Intelligence for over five years, serving most recently as Head of Research…

Wikki Times
After Collecting Ransom Thrice, Bandits Returned Lifeless Katsina Health Worker
Suspected bandits in Dandume, Katsina state reportedly murdered a health worker (name withheld) after spending weeks in captivity and collecting ransom from his family three times…

3 October 2023
News Central TV
Minister Unveils Digital Roadmap for Nigeria
SBM Senior Analyst, Seyi Awolojugbe joins, Lekan Onabanjo on News Central’s Business Edge to discuss the new document presented by Bosun Tijani, Nigeria’s digital economy minister…

Nigerian Tribune
Unravelling the hidden costs of Nigerians’ migration saga
Have you ever found yourself gazing beyond the borders of Nigeria? The allure of the “Japa” syndrome has undeniably taken hold because of its popularity. Many Nigerians think about leaving home for better opportunities. You might have stumbled upon “How to Japa/relocate” videos on YouTube or relocation influencers on Instagram, offering glimpses of a different life…

RFI
Nigeria: les syndicats suspendent leur appel à la grève nationale
Cette grève illimitée devait démarrer mardi. Mais après des discussions dimanche et lundi entre le gouvernement et les deux syndicats, le Nigeria Labour Congress (NLC) et le Trade Union Congress (TUC), ces deux derniers ont accepté de suspendre le mouvement pour 30 jours…

Sahara Reporters
How Kidnappers, Fulani Gangs Terrorise Kwara State Communities, Claim Several Lives Of Residents
Kwara State, nestled in the North-Central region of Nigeria, has historically been synonymous with peace and tranquility. However, recent years have seen a drastic transformation, as insecurity has taken root, with kidnappings becoming the new scourge. This investigative report delves deep into the rising kidnapping epidemic in Kwara State, examining its causes, effects, and the challenges faced by local communities.

1 October 2023
BusinessDay
Workers can now cook two extra jollof pots with rise in minimum wage
In his Independence Day speech, President Bola Tinubu offered Nigerian workers an additional Twenty-Five Thousand naira per month for the next six months. According to the Jollof rice index, the amount is approximately equivalent to two extra pots of jollof rice in a month…

Punch
Nigeria @63: Search for ‘nationhood’ still elusive
Of the three member-countries of the United Nations marking their independence anniversary today, one, China, is basking in her super-power status; another, Cyprus; her nineteenth year of membership of the tranquil and prestigious European Union; the third, Nigeria, is enveloped with gloom, uncertainty, and discontent…