The Effects of Boko Haram’s Insecurity on Nigeria’s Economy

Abstract

Insecurity has been a major dare to the Nigerian government in recent times. The actions and activities of the Islamic sect known as Boko Haram had led to enormous loss of lives and properties in the countr,  particularly in the Northern part of Nigeria. Some of these activities include intimidation, bombings,  suicide attacks, sporadic gunfire of unarmed, blameless and innocent Nigerian citizens, burning of police  stations and churches, kidnapping, raping of school girls and women. Nigeria has also been included  amongst one of the terrorist countries of the world. This has serious implications for national  development. Though government had made worried hard work to deal with these challenges  masqueraded by terrorism and insecurity in the country but the rate of insurgency and insecurity is still  disturbing. This study therefore, investigated the effects of Boko Haram’s insecurity on Nigeria’s  economy. Data used for this study was sourced from online questionnaire, using Analysis of Variance  (ANOVA) method of analysis. The result showed that Ideology and funding are the significant basic factors  that propelled the Boko Haram sect in Nigeria, the Boko Haram disaster poses a significant threat to Nigeria’s economy and that the military is the best option and solution in tackling the Boko Haram  menace in Nigeria. The study recommended the following; government should declare war on terrorism  and seek support from international communities who have in the time past faced this kind on challenged and were capable to tackle it. Nigerian Military ought to be empowered further with arms to wrestle this  insurgency. The government is advised to beef up security in the country to curb the threat of insecurity.

Keywords: Boko Haram, Insecurity, Terrorism, Nigeria’s Economy