December 2024

31 December 2024
Proshare
Economic Outlook Report 2025: Sub-National Economic Dashboards – Understanding the Micros
Segmenting a country into smaller units sometimes provides a clearer picture of opportunities, strengths, and deficiencies. The segregation of the Nigerian economy into regional units reveals the strong, weak, and struggling, with some regions battered by insecurity, low incomes, and slow economic activities while others outshine, leveraging industrialisation and large active working populations to suppress the structural challenges…

30 December 2024
Money Central
Rice Prices Higher Than Minimum Wage as Nigeria Battles Inflation
The price for a key ingredient to make Nigeria’s favorite jollof rice dish more than doubled to a level higher than the minimum wage, showing the government’s struggle in controlling the cost-of-living crisis…

Sun Nigeria
Nigeria’s worsening insecurity
One of the three cardinal programmes of the immediate past President, Muhammadu Buhari, was to tackle insecurity in Nigeria. By the time Buhari left office on May 29, 2023, the spate of insecurity had worsened in the country…

29 December 2024
Africa Related
Kidnapped in Nigeria
On March 3, 2024, 29-year old Deborah Sanni, an Area 1 resident of Abuja, stepped out of their family home around 8:00 PM to pick some supplies from a nearby shop. Then the unthinkable happened…

BusinessDay
Community dwellers as fall guys in Nigeria’s insecurity conundrum
Increasingly, hapless Nigerians in obscure communities are bearing the brunt of insecurity in Nigeria. Apart from the fact that they often fall victim of the attack of bandits, terrorists and kidnappers, they are also accused by government agencies of not providing the needed intelligence to the security agencies about the activities of the criminal elements that live amongst them…

Legit
“No More ₦80k/50kg”: Sellers Quote Rice at New Price as Cost Jollof Doubles in 2024
The cost of making Nigeria’s favourite dish, jollof rice, doubled this year as rice prices soared. The new price shows the government’s struggle to control the cost of living in Nigeria…

28 December 2024
The Guardian
Beaches, beer and a rare suspended lake … why can’t Nigeria attract more tourists?
At the top of the Ado-Awaye hills lies a lake suspended 433 metres above sea level. Local people say the lake is named Iyake (Yoruba for “crying woman”) after a weeping, barren woman who fell in the water hundreds of years ago, conferring on it powers of fertility…

NewsX
10 Civilians Killed In Botched Nigerian Airstrike Targeting Insurgents
At least 10 civilians were mistakenly killed in an airstrike targeting an insurgent group in northwestern Nigeria. The attack occurred on Christmas Day, when the Nigerian Air Force aimed at a logistics base used by the Lakurawa insurgent group in Sokoto state’s Silame area…

27 December 2024
AP
Airstrike on insurgents mistakenly killed 10 civilians, Nigerian military says
An airstrike targeting an armed group in northwestern Nigeria mistakenly killed at least 10 civilians, the West African nation’s military said Friday…

Bloomberg
Rice Prices Surge to Record in Nigeria as Tinubu’s Food Policies Falter
The price for a key ingredient to make Nigeria’s favorite jollof rice dish more than doubled to a record this year, showing the government’s struggle in controlling the cost-of-living crisis facing Africa’s most populous nation…

Vanguard
2025 Budget: Tinubu dangles false hopes before Nigerians again!
Bola Tinubu’s 2024 budget, his first as president, was a whopping ₦28.77 trillion. He dubbed it “Budget of Renewed Hope”. But, as 2024 crawls to an end, the hope Tinubu promised to renew turns out to be a mirage. Rather than experiencing the actualisation of a hope, most Nigerians have witnessed utter despair…

26 December 2024
Ashe News
Transnational crimes ensnaring nations globally
In 2022, authorities seized 1,466 kilograms of cocaine in Burkina Faso, Chad, Mali and Niger, compared to an average of 13 kilograms between 2013 and 2020, according to an April 2024 United Nations report…

25 December 2024
Al Jazeera
Nigeria’s celebratory ‘detty December’ turns sombre amid economic woes
Fade Bey’s Decembers are usually packed with activities. In the company of friends and family, she hops from one bar, club and concert to the next, braving Lagos’s notoriously gridlocked traffic to sample cuisines at different restaurants around the city…

24 December 2024
The Cable
Controversy surrounds Nigeria’s crime report: Separating facts from fiction
On December 17, the Nigerian Bureau of Statistics (NBS) released its Crime Experience and Security Perception Survey (CESPS). This report, which received widespread news and social media coverage, made various claims about the rate of crime in the period from May 2023 to April 2024…

News Central
Combating Violence and Infrastructural Sabotage in Nigeria
As the holiday season approaches, the joyous anticipation of Christmas is overshadowed by a series of grave security challenges across Nigeria and its neighbouring regions…

Wikki Times
Kidnappers Rip Off ₦1.81 Trillion as Ransom in Northern Nigeria – Report
Kidnappers ravaging northern Nigeria have ripped off a whopping ₦1.81 trillion as ransoms from families in the region in just one year, a Crime Experience and Security Perception Survey (CESPS) reveals…

23 December 2024
Nairametrics
New forces to emerge against Tinubu, APC in 2025 – SBM intelligence report reveals
A new political group, primarily comprised of northern elements allegedly sidelined within the All Progressives Congress (APC), is poised to emerge as the main opposition to President Bola Tinubu’s administration in 2025…

National Daily
Northern political realignment to reshape opposition to Tinubu
A new political coalition, primarily of northern elements allegedly sidelined within the All Progressives Congress (APC), is set to challenge President Bola Tinubu’s administration in 2025…

Punch
Hidden workforce: How Nigerian banks exploit contract staff
Behind Nigeria’s thriving banking sector lies a harsh reality: contract staff, the industry’s backbone, are overworked and underpaid and face systemic inequalities that tarnish the sector’s success…

22 December 2024
AP
Why did at least 67 people die in Christmas charity stampedes in struggling Nigeria?
Stampedes during three Christmas charity events across Nigeria have left at least 67 people dead in the past week, many of them children. Families are struggling during the country’s worst cost-of-living crisis in a generation…

21 December 2024
BusinessDay
Cost-of-living crisis pushes Nigerians to early graves as Christmas nears
Several Nigerians went to their early graves on Saturday as they fell to wild stampedes that occurred in Abuja and Anambra State…

Financial Times
Nigeria tax spat opens country’s smouldering north-south divide
Nigeria’s government is facing stiff opposition to a controversial tax reform bill that northern leaders say favours more productive southern states, reawakening a historic regional divide in Africa’s most populous country…

Human Angle
Unsafe Zamfara Schools Endanger, Push More Children Out of School
In Zamfara State, Nigeria, persistent terrorist activities have severely disrupted education, particularly in rural areas. Over 60 schools have been closed, largely due to fears of attacks and kidnappings, thereby denying thousands of children their right to education…

The Nigerian Lawyer
Opposition Parties Criticize FG Over ₦2.23tn Ransom Payment Report, APC Disputes Findings
Opposition parties in Nigeria have strongly criticized the Federal Government following a recent report indicating that a staggering ₦2.23 trillion was paid as ransom to kidnappers between 2011 and 2022. However, the ruling All Progressives Congress (APC) has disputed the report’s findings…

Premium Times
Schools Under Siege: How insecurity is robbing Nigerian kids of education
Abubakar Sani’s blank face masked his mood and made it difficult to decipher the stories his eyes had to tell. From Gwashi, a village in Bukkuyum Local Government Area (LGA) of Zamfara State, where he resides, he had watched the evolution of the bandits terrorising the Northwestern part of Nigeria…

20 December 2024
BusinessDay
Comparing the economic performance of past and present leaders
Thanks to SBM Intelligence for this infographic showing the economic performance of Nigerian leaders during this civilian era. President Goodluck Jonathan and Olusegun Obasanjo delivered the most positive numbers…

19 December 2024
Arise News
Security Analyst Macharry Calls for Revival of Traditional Dispute Mechanisms to Tackle Security Crisis in the North
Confidence Macharry, a Geopolitics and Security Analyst at SBM Intelligence, emphasised the need to restore traditional methods of dispute resolution, particularly in the north, which have declined in recent years. He argued that enhancing governance and ensuring better access to justice are essential for lowering crime rates nationwide…

BusinessDay
Security, human capital, infrastructure top Tinubu’s 2025 budget priorities
President Bola Tinubu allocated 31 percent of the 2025 budget to security, defense, education, health and infrastructure, reflecting his priorities for the coming year…

News Central
2025 Projections: Nyesom Wike Faces Potential Ousted from Office – SBM Predictions
SBM has raised the possibility that Nyesom Wike could face removal from office in 2025. The analysis looks at the key political dynamics that might lead to this dramatic turn of events, sparking conversations about the future of leadership in the FCT. Could this prediction change the political landscape..?

RFI
600 000 personnes assassinées et 2 millions d’autres kidnappées en un an, selon une étude nationale
Il est toujours difficile d’obtenir des données fiables dans un pays qui compte plus de 220 millions d’habitants, comme le Nigeria. Mais il est rare que le gouvernement nigérian communique aussi ouvertement sur l’expérience en matière de sécurité et de criminalité, telles qu’elles sont vécues par la population…

18 December 2024
Bloomberg
Nigeria Banks on Higher Oil Revenue to Fund Record Budget
Nigerian President Bola Tinubu is banking on an increase in oil revenue to help fund record spending outlined in the 2025 budget that he presented to parliament on Wednesday…

17 December 2024
News Central
Nigeria’s Tax Reform: The Battle Over VAT and Its Impact on Businesses
Dr. Femi Egbesola, President of the Association of Small Business Owners of Nigeria, and Bunmi Bailey, Head of Research at SBM Intelligence, engaged in a critical examination of Nigeria’s value-added tax (VAT) system…

The Whistler
Kidnappers Made ₦2.23trn From Nigerians In 12 Months – NBS
A survey has revealed that over ₦2.23trn was paid as ransom to kidnappers between May 2023 and April 2024. The survey by the National Bureau of Statistics revealed Nigerians’ lack of confidence in the police to provide meaningful solutions to kidnapping incidents…

15 December 2024
News Central
Tax Revolution: How President Tinubu’s Reforms Will Impact Nigerians
President Bola Tinubu’s ambitious Tax Reform Bill aims to overhaul Nigeria’s taxation system. While touted as a “revolution in fairness,” the bill has ignited heated debates about its potential to exacerbate economic disparities across states…

14 December 2024
Tekedia
Nigeria’s Tax Reform Bills Don’t Address Region’s Distinctive Economic Characteristics
A recent survey by SBM Intelligence critiques the federal government’s proposed tax reforms, suggesting they fail to account for the distinctive economic characteristics of Nigeria’s regions…

13 December 2024
The Africa Report
Northerners support Tinubu’s tax reforms
A new grassroots report presents a marked difference from the perception that the influential northern region is strongly opposed to the tax reforms bills…

Blueprint
Tax reform bills stir debate amidst concerns over VAT hike
A recent survey conducted by SBM Intelligence has revealed sharply divided public opinion on Nigeria’s proposed tax reform bills. While some Nigerians view the reforms as a step toward modernizing the tax system and boosting state revenues, others express deep apprehension, particularly regarding the planned Value Added Tax (VAT) increase from 7.5 per cent to 15 per cent by 2027…

Guardian Nigeria
Tinubu’s proposed tax reforms resonate with northern businesses
Despite sectional misgivings, the deepening of ethnic fault lines, and widespread mistrust in his reforms, Nigeria’s President Bola Tinubu’s push for a new tax regime may provide lifelines to businesses in the country’s north, according to a new report…

Nairametrics
FG’s Tax reforms have not addressed Nigeria’s regions’ uniqueness
A recent survey by SBM Intelligence alleges that the federal government’s proposed tax reforms fail to account for the unique characteristics of certain Nigerian regions…

Punch
Nigerians believe VAT hike will worsen inflation
Some Nigerians have expressed concerns that the proposed hike in Value Added Tax from 7.5 per cent to 15 per cent by 2027 would worsen the country’s inflationary trend…

ThisDay
ACF Constitutes Committee to Study Bills on Tax Reforms
Arewa Consultative Forum (ACF) has constituted a committee of experts to study the tax reform bills currently before the National Assembly and come up with recommendations that would be forwarded to appropriate organs of government. This was contained in a statement by the forum’s National Publicity Secretary, Professor Tukur Muhammad-Baba…

12 December 2024
BusinessDay
Nigerians fear VAT hike could further stoke inflation
Nigerians are having growing concerns that the plan to progressively increase the Value Added Tax (VAT) up till 2027 could further raise inflationary trend which is already at a near three decade high…

Investor King
Fresh Report Reveals Nigerians’ Concerns Over Gradual VAT Increase, Worsening Inflation
A fresh survey has revealed how Nigerians are being worried over gradual increase of the Value Added Tax (VAT), saying it could worsen inflation in the country. There has been a plan progression in VAT up till 2027 by the Federal Government amid inflationary trend which has constantly to rise in the last thirty years…

Nairametrics
Tax reform bills: Nigerians share mixed reactions amid concerns over VAT increase
A recent survey by SBM Intelligence has revealed a mix of optimism and apprehension among Nigerians regarding the proposed tax reform bills, even as some raised concerns over a proposed gradual increase in Value Added Tax (VAT)…

Sahara Reporters
Only Five Nigerian States Can Survive Without Federal Allocation FAAC
A report by a think-thank, the SBM intelligence has shown that only five states in Nigeria can survive without allocation from the federation accounts. The states were listed as Anambra, Cross Rivers, Lagos, Ogun and Rivers…

10 December 2024
Blueprint
North West Development Commission and other issues
Northwestern Nigeria, the veritable location of Katsina—Kano—Kaduna, aka KKK, the brain and heartbeat of Nigeria’s politics, is in disarray. It is at a ferocious war with itself and external forces and direly needs salvation…

9 December 2024
AFP
Cash crunch fuels rising misgivings against Nigeria’s money agents
Mobile money agents have become a familiar sight across Nigeria, using handy point-of-sale machines to provide essential services to millions of people without access to banking, particularly in hard-to-reach rural areas…

The Africa Report
China’s Huaxin Cement to challenge Dangote, BUA after Lafarge Africa purchase
Dangote Cement and BUA face a new challanger in Nigeria from Chinese newcomer Huaxin Cement, which is buying an 83.8% stake in Lafarge Africa from Holcim…

8 December 2024
News Central
Counting Begins, Inflation, Debt Negotiations, and Political Dynamics
Voting in Ghana’s 2024 elections has concluded, and counting has officially begun. Isaac Agyei from SBM Intelligence and William Boadi, Executive Director of Educate Africa Institute, join us to discuss the political dynamics and economic issues, including inflation and debt negotiations…

7 December 2024
News Central
Ghana Decides 2024: A Critical Moment for Democracy in West Africa
Ghana’s upcoming general elections represent a pivotal moment, marking the ninth since the nation embraced multiparty democracy in 1992…

6 December 2024
Business Weekly & Review
Botswana tops Africa’s economic instability list for 2024
Botswana has always stood out as the bastion of macroeconomic stability and financial prudence, but the latest Africa Country Instability Risk Index, released by SBM Intelligence in November 2024 shows that the country is losing its top spot…

5 December 2024
Arise News
Despite Economic Hardship, Nigerians Should Reconsider How They See Sports Betting
In recent years, Nigeria has faced some of its toughest economic challenges. The soaring cost of living, dwindling job opportunities, and a sense of helplessness have left many struggling to make ends meet…

Human Angle
Farmers and Fishers in Nigeria’s North Caught between State and Non-state Attacks
The call connected after a few rings, and his voice emerged, low and steady over the soft hum of mourners from the background. They were praying for the souls of those lost…

Vanguard
Hunger: Nigeria is starving its own people; that’s iniquitous!
Recently, the National Bureau of Statistics, NBS, published the results of the General Household Survey Panel, which showed that 63.8 per cent of households face severe food insecurity and are skipping meals, some for a whole day…

4 December 2024
BBC
‘I was talking to my brothers, then I saw their bodies on the ground’
It was meant to be a day of joy but December 3rd 2023 was a day of tears for residents in the Northern Nigerian town of Tudun Biri. An accidental drone attack from the Nigerian army dropped two bombs on worshippers celebrating a Muslim festival.

3 December 2024
BBC
‘Dead bodies everywhere’ – villagers mourn children killed in drone strike
An Islamic school teacher, Masud Abdulrasheed, is struggling to come to terms with the killing of his seven-year-old daughter in drone strikes by Nigeria’s military during a religious festival in their large but sparsely populated village exactly a year ago…

Daily Trust
Anambra: Time to stop sit-at-home
The resurgence of violence in the South East region, especially Anambra State, by terror groups enforcing sit-at-home has become a direct attack on Nigeria…

Guardian Nigeria
Nigeria ranked among five biggest political stability losers in sub-Saharan Africa
A new report by SBM Intelligence, a market/security intelligence gathering and consulting firm, has ranked Nigeria and four other countries in Sub-Saharan Africa as the biggest losers in its Africa Country Instability Risk Report…

Legit
One Year After, Villagers Mourn 85 People Who Lost Their Lives in Kaduna State
A year after, an Islamic school teacher, Masud Abdulrasheed, is grappling with the loss of his seven-year-old daughter, Habeebah. She was reportedly killed in a drone strike by Nigeria’s military during a religious festival in Tudunbiri village…

1 December 2024
FIJ Nigeria
Defence Chief Admits Soldiers’ Involvement in Drugs, Arms Trafficking
Christopher Musa, the Chief of Defence Staff (CDS), has admitted that some personnel of the Nigerian Armed Forces have been involved in trafficking arms and illicit drugs…

Global Upfront
2025 Governorship: Ozigbo Meets Ndi Anambra In Diaspora As Part Of 12 European Cities’ Engagement
Valentine Ozigbo, Labour Party chieftain and frontline Governorship hopeful in Anambra State in the November 8, 2025 Governorship election has embarked on engagement with Anambra State citizens in Diaspora in a scheduled 12-city European tour…