IMPACT OF INSECURITY ON ECONOMIC DEVELOPMENT OF NIGERIA

Abstract

The continuous rise in Insecurity and deterioration in the economic development in Nigeria call for a concern among researchers and policy makers over the years.  However, these two hydra-headed problems still remain the greatest challenges facing nations all over the world. This study therefore, examines the implication of insecurity on economic development in Nigeria. With the use of trend analysis, descriptive statistics and Pearson correlation of failed state index, human development index and Legatum’s prosperity index, the study reveal an inverse relationship between insecurity and economic development in the country. to ensure economic development in Nigeria therefore, the study recommends various measures of curbing insecurity including preventive community policing, human development centered growth perspective, equitable distribution of resources as well as channeling of resources to frontline sectors of the economy among others.

CHAPTER ONE

INTRODUCTION

Background to the Study

The return to democratic rule in Nigeria on May 29th, 1999 presented Nigerians with fresh hopes and latent optimism. This is because the people were of the hope that democracy could guarantee freedom, liberty, and equity and enhances the security of lives and properties which are the panacea for the much needed sustainable economic growth and development of the nation. About eighteen years after this fresh hope was offered, the realities on the ground suggest that the hope and optimism has remained a mirage. According to figures from the National Bureau of Statistics, over ten million Nigerians were unemployed by March 2009. As Otto and Ukpere, (2012) observed, the figure on unemployment keep increasing geometrically yearly with less realistic effort by the managers of the state to abate the rampaging unemployment problem. Nwanegbo and Odigbo, (2013) agreed with the view above when they further opined that majority of the population seem to lack access to pipe borne water, health care facilities, electricity and affordable quality education.

 IMPACT OF INSECURITY ON ECONOMIC DEVELOPMENT OF NIGERIA (ECONOMICS PROJECT TOPICS AND MATERIALS)