Prominent Nigerian figures, including businessman Ighodalo and former CAN President Oritsejafor, have called for a state of emergency to address the country’s economic downturn and worsening insecurity. The appeal comes as inflation hits record highs and violent incidents surge across multiple regions.
Analysts note Nigeria’s economy contracted by 1.8% in Q2 2026, marking the third consecutive quarter of decline. Meanwhile, security forces report a 40% year-over-year increase in kidnappings and armed banditry.
‘We’re facing twin crises that require extraordinary measures,’ stated a government official speaking anonymously. The Central Bank recently devalued the naira by 15% amid dwindling foreign reserves.
Opposition lawmakers argue the administration should focus on implementing existing economic recovery plans rather than declaring emergencies. Economic analysts warn that emergency measures could spook foreign investors if not carefully structured.