In the Nigeria polity, electoral violence has constituted a major feature of the electoral process. Ballot box snatching, thuggery, gunshots, etc. have almost become the norm during elections in Nigeria. This paper adopts a theoretical approach in proffering solution to this menace plaguing the Nigerian electoral system, by identifying violence as a critical factor that engenders risk in election in Nigeria. It seeks to do so by suggesting the implementation of electoral risk management tools and institutionalization of the Electoral Risk Management by the Election Management Body in Nigeria (INEC). According to this paper, the use of this tool will engender peaceful and credible elections in the coming years, especially in the forthcoming general election in 2023