The Nigeria Stability Index (NSI) reported that the country's overall Stability Score stood at 4.3 out of 10 in August 2026, while security confidence fell to 1.6 in September, highlighting a widening gap between public perceptions of national security and economic stability.
According to the NSI, security emerged as the poorest-performing category, scoring just 2.0 out of 10 in August, before declining further to 1.6 in September. This represents a 0.4-point drop within one month, reflecting worsening security sentiment among respondents.
In contrast, foreign exchange conditions, economic performance, and investment prospects received comparatively stronger ratings, suggesting that respondents perceive more positive developments in Nigeria's economic and investment environment than in its security situation. However, the NSI did not provide specific September scores for these pillars, making it difficult to determine the precise scale of improvement.
Economic Confidence Offers a Brighter Outlook
The report identified relatively encouraging sentiment in the FX and Economy and Investor Confidence pillars, which emerged among the better-performing categories in recent assessments. These stronger ratings suggest that economic conditions are viewed more favorably than security conditions.
The contrasting results underline a significant challenge: stronger economic sentiment does not automatically translate into broader public confidence when security concerns remain unresolved. The findings highlight the challenges facing Nigeria as authorities seek to strengthen economic confidence while addressing persistent security concerns.
Five Indicators Measure Nigeria's Stability
The Nigeria Stability Index evaluates public sentiment monthly across five major pillars considered important to national stability: Security, Social Stability, FX and Economy, Governance, and Investor Confidence. Together, these indicators provide a snapshot of how respondents assess conditions across different aspects of national life.
The monthly assessments illustrate how public perceptions can vary considerably between sectors, even within the same reporting period. The index measures public sentiment rather than independently establishing changes in crime rates or security incidents.
States and Public Institutions Also Assessed
Beyond its monthly Stability Score, the NSI publishes State Spotlight and Institution Spotlight features, which highlight documented achievements by state governments and public institutions, providing additional perspectives on governance and institutional performance.
The initiative aims to offer regular insights into the issues shaping public confidence and perceptions of Nigeria's stability. For policymakers, investors, and other stakeholders, the findings underscore the importance of addressing security concerns alongside economic challenges.
The latest results suggest that while economic sentiment may be improving, restoring confidence in public safety remains a major challenge. In related news, Nigeria's headline inflation rate declined to 14.63% in September 2026 from 15.39% in August, according to the National Bureau of Statistics (NBS), as disclosed in its Consumer Price Index report released on Thursday, October 15, 2026.
