Open AccessInsecurity and Economic Growth in Nigeria: A Diagnostic Review
Author(s) -
Bright Enakhe Onime
Publication year - 2018
Publication title -
european scientific journal
Language(s) - English
Resource type - Journals
eISSN - 1857-7881
pISSN - 1857-7431
DOI - 10.19044/esj.2018.v14n4p377
Subject(s) - unemployment , government (linguistics) , internal security , economics , government revenue , government expenditure , capital (architecture) , economic security , revenue , development economics , capital expenditure , economic growth , qualitative analysis , business , qualitative research , macroeconomics , political science , geography , finance , public finance , sociology , social science , linguistics , philosophy , archaeology , politics , law
This paper examines the effect of insecurity on economic growth in Nigeria. Apart from its direct effect on the populace, it also affects the economy. Using elements of descriptive qualitative analysis and data from secondary sources, the paper analyzed its effect on some economic parameters. The analysis showed that insecurity affects economic growth by drying-out investments, increases unemployment and dwindles government revenue, amongst others. Despite these effects, government capital expenditure on internal security did not grow astronomically to match the hydra-headed problem. This paper therefore recommended an increase in capital expenditure on internal security and concludes with a discussion of some policies to be designed and targeted at addressing the economic effects of insecurity.