Accounting for Peace and Economic Development in Nigeria, the Niger-Delta Case

Abstract

The objective of this study was to investigate the impact of cost of peace keeping in the Niger-Delta region on the economic development of Nigeria. To achieve this purpose, a hypothesis was raised and a review of extant literature was made. In order to generate the necessary data for this study, the secondary method of data collection was employed and a longitunal survey designed for a period of ten (10) years, i.e 1999-2008, was adopted. The data for the study were generated from the Central Bank of Nigeria statistical bulletin of 2009. The result of our analysis shown that cost of peace keeping in the Niger-Delta region of Nigeria, has a negative significant impact on the economic development of Nigeria. It was therefore recommended that to eliminate cost of peace enthronement in the Niger-Delta region and consequently improve the economic development of Nigeria, the Federal Government and her parastatals as well as the multinational oil companies should pay special attention to the Niger-Delta question by making provision for higher level of infrastructure (electricity, good roads, efficient communication systems, portable water, employment opportunities, scholarship awards), to the people.

Keywords: Accounting for peace; cost of peace keeping; Economic Development; Insecurity; militancy.