An evaluation of the effect of armed robbery on Nigerian economy

Abstract

This study contends that neither unemployment rate (UER), per capital income (PCI) nor inflation rate (IFR) has an impact on the incidence of armed robbery in Nigeria. It is the desire of this research to establish an empirical framework within which the role of economic variables on the incidence of armed robbery will be better understood. The objective of this research is to explore the role of economic factors in criminal behaviour using available data on armed robbery in Nigeria. The research is essentially descriptive and historical. Data for the research has been collected from publications of the Federal Office of Statics, the Central Bank of Nigeria, the Nigeria Police Force Annual Reports and miscellaneous sources. The study revealed that unemployment is responsible for the largest proportion of armed robbery causes in Nigeria. It also found that the relatively high rate of inflation, which eroded real incomes, also has some impact on the armed robbery in Nigeria. The study concluded that criminal justice system in Nigeria does not do a highly effective job of increasing the private cost to criminals.