SECURITY CHALLENGES AND OTHER GLOBAL ISSUES’ ON THE ECONOMY OF NIGERIA
The Nigeria-South Africa Chamber of Commerce January 2021 webinar was held on January 28th, 2021.
Chris Aluta, GMD of ProtectionPlus Services Limited, delivered the keynote address. He spoke about Nigeria’s Security Challenges and the Implications for Business Activities and Sustainable Development.
Nigeria, once Africa’s largest economy, is on the decline due to coronavirus outbreaks, banditry, Endsars, and other security flaws. He stated that Nigeria has an extremely high crime rate. Institutions continue to be weak, with inadequately protected property and rights, high corruption, and undue influence. Furthermore, Nigeria’s security situation remains dire. Nigeria must continue to improve its infrastructure, as well as its health and primary education systems.
Furthermore, as evidenced by its low rates of ICT penetration, the country is not leveraging the latest technologies for productivity enhancements. On the plus side, Nigeria benefits from its relatively large market size, which has the potential for significant economies of scale; a relatively efficient labor market, owing to its flexibility; and a solid financial market following its gradual recovery.
However, Nigeria has recently experienced unprecedented levels of insecurity, including Boko Haram activities, banditry, kidnapping, and clashes between Fulani herders and farmers, which resulted in Ondo State issuing a Quit Notice to Fulanis in the State. This has made national security a major issue for the government, prompting a significant allocation of the national budget to security.
To reduce crime, the federal government has criminalized terrorism by circumventing the Anti-Terrorism Act in 2011, increased physical security measures across the country aimed at deterring or disrupting potential attacks, strengthened security agencies through the provision of security facilities, and developed and broadcasted security messages.
Despite these efforts, the country’s level of insecurity remains high. Furthermore, Nigeria has consistently ranked low in the Global Peace Index (GPI, 2012), indicating that the country’s security situation has deteriorated.
With lingering security challenges and the government’s inability to guarantee safety and security in the country, the question that everyone in Nigeria today is “can there be security?” Is it possible to ensure the safety of people and property?
Others have argued that the situation has a political undertone or inclination calculated to serve the interests of certain political gods who have been dissatisfied and disgruntled with the country’s political manifestations. He opined that government at all levels has not done enough by not confronting the situation head-on and dealing with it decisively.
While speaking on the topic Security Challenges in Nigeria and the Implications for Business Activities and Sustainable Development, Chris Aluta, GMD, Protection plus Services Limited stated that security can be defined as stability and continuity of livelihood (stable and steady income), predictability of daily life (knowing what to expect), protection from crime (feeling safe), and freedom from psychological harm (safety or protection from harm).
It is concerned with the emotional and psychological sense of belonging to a social group that can provide protection). However, it is commonly argued that security is not the absence of threats or security issues, but rather the ability to respond to the challenges posed by these threats with speed and expertise.
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TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
Area of study – – – – – – – – -40
Population of the study – – – – – – -41
Sample and sampling techniques – – – – -41
Instrument for data collection – – – – -41
Method of data collection – – – – – -42
Method of data analysis – – – – – – -43
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
Discussion of findings – – – – – – -56
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
SECURITY CHALLENGES AND OTHER GLOBAL ISSUES’ ON THE ECONOMY NIGERIA
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