Nigeria posted an overall Stability Score of 4.3 out of 10 in August 2026, with security emerging as the weakest pillar, according to the Nigeria Stability Index (NSI).
Security scored just 2.0 out of 10 in August and then fell further to 1.6 out of 10 in September a drop of 0.4 points in a single month. The index tracks public sentiment rather than independently verified crime or incident data, and it covers five pillars: Security, Social Stability, FX and Economy, Governance, and Investor Confidence.
Security Far Behind Other Pillars
The September security reading of 1.6 underscores persistently low public confidence in personal safety and the wider security environment. The NSI noted that the gap between how respondents view security and how they assess the economy is widening.
FX and Economy and Investor Confidence have ranked among the stronger categories in recent assessments, suggesting that respondents see relatively more progress on the economic and investment front than on safety. Specific September scores for those pillars were not released, so the exact size of any improvement cannot be measured from the available data.
Economy Improves, but Confidence Stays Split
The contrast between firmer economic sentiment and weak security ratings highlights a central challenge: gains in one area do not automatically lift overall confidence when safety concerns remain acute. For policymakers, investors and businesses, the findings point to the need to tackle security alongside macroeconomic and investment issues.
The results come as headline inflation eased to 14.63% in September from 15.39% in August, according to the National Bureau of Statistics’ Consumer Price Index report released on 15 October 2026. That cooling in price pressures may support the relatively stronger economic readings in the NSI, even as security continues to weigh on sentiment.
Broader NSI Features
In addition to the monthly Stability Score, the NSI publishes State Spotlight and Institution Spotlight reports. These highlight documented achievements by state governments and public institutions and offer further insight into governance and institutional performance.
What It Means
For the naira, consumers and Nigerian businesses, stronger readings on FX and investor confidence can help support sentiment. The very low security score, however, remains a clear risk to confidence, investment decisions and everyday commercial activity. Until public perceptions of safety improve, overall stability is likely to stay constrained even if economic indicators continue to show pockets of progress.
—
**Hashtags**:
#NigeriaStability #Security #InvestorConfidence #NSI #NigeriaEconomy #Inflation #PublicSentiment #Governance
