EXAMINATION OF TERRORISM AND NIGERIAN ECONOMY: AN ASSESSMENT OF THE BOKO HARAM INSURGENCE

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

Terrorism and insurgency are becoming common words across the world, since no country is immune to their effects. This is why, according to Rourke (2008), war, terrorism, and other kinds of international political violence are, in many respects, more dangerous now than they have ever been, since civilian casualties have risen. However, developing a singular meaning for the word "terrorism" is challenging. The problem stems from a lack of agreement or a cohesive viewpoint among countries or academics on what constitutes a terrorist attack (Oche, 2001). As a result, terrorism has been characterized as a technique and a strategy; a criminal and a sacred obligation; a justifiable response to tyranny and an unforgivable abomination, depending on who is representing whose point of view (Awake, 2008). Terrorism and insurgency have shown themselves across the globe, including in Africa and Nigeria. In Nigeria, the issue has manifested itself in the development of the Boko Haram insurgency (2001-date). The sectarian insurgency has wreaked havoc on the country since its inception, particularly by “using explosives and firearms with gruesome, fatal” consequences (Awake, 2008). The alarming number of terrorist attacks in various parts of the country, with unpalatable consequences for the nation's economy and growth. The Nigerian government has allocated a large amount of money for security since 2013, and the National Assembly enacted the Anti-Terrorism Act in 2011 to address the danger to national security and fight the rising waves of crime (Adebayo, 2013). Despite these efforts, the country's degree of terrorism and instability remains high, as shown by Nigeria's poor position in the Global Peace Index (GPI, 2012). Despite the many security measures implemented to confront Nigeria's overwhelming problems of terrorism and insecurity, the government's efforts have not yielded the anticipated beneficial outcome. As a result, the Nigerian government has recently requested international help from nations such as the United States, Israel, and the European Union to fight increasing waves of terrorism and instability (Adebayo, 2013). Nigeria is faced with enormous developmental difficulties that represent a significant danger to socio-economic growth, notwithstanding the country's worsening security condition. endemic rural and urban poverty, high unemployment, debilitating youth unemployment, low industrial output, unstable and deteriorating exchange rates, high inflation, inadequate physical and social infrastructure, very large domestic debt, and rising stock of external debt are just a few of the developmental challenges (Adebayo ,2013). Some academics have defined security as the absence of dangers to a country's peace, stability, national cohesiveness, political, and socioeconomic goals (Igbuzor, 2011; Oche, 2001; Nwanegbo and Odigbo, 2013). As a result, the current literature agrees that security is critical for national cohesiveness, peace, and long-term prosperity. As a result, it is clear that national security is a must-have for every country's economic growth and development (Oladeji and Folorunso, 2007). We shall be able to create a connection between terrorism and Nigeria's economy by examining the idea of the Nigerian economy. The economy is defined as a country's or region's wealth and resources, particularly in terms of population and consumption of products and services (Anyenwa and Oaikhenar, 2000). It refers to the complete network of producers, distributors, and consumers of products and services in a local, regional, or national community, such as a local, regional, or national community. Nigeria's economic situation. Meanwhile, the Nigerian economy, particularly in the north, has been severely harmed as a result of the rebels' actions. Farmers in the northern portion of the nation (Borno, Yobe, and Bauchi) who mostly participate in subsistence farming no longer feel secure going about their agricultural operations, resulting in an increase in the incidence of food insecurity in that region.

1.2 Statement of research problem

The advent of the Boko Haram insurgency has added a hitherto unseen terrorist component to Nigeria's criminal landscape. The group has carried out a series of bombings as well as kidnappings of innocent people. The bombing spree did not spare the United Nations Building in Abuja. Terrorism has a significant impact on national economy in both wealthy and poor nations. It is unavoidable that the economic effect of terrorism would be felt more strongly in low-income monocultural countries than in highly advanced, diversified industrial economy. As a consequence, if the country's terrorist problem is not addressed, it may lead to increased investor indifference and a decrease in FDI inflows, forcing institutional investors to seek for more stable countries to invest in. On the condition of the country, when people feel uneasy, their desire to invest, purchase or rent investment products decreases; and that is why, all over the globe, any country that emits an atmosphere of insecurity naturally repels investment efforts from both foreign and domestic investors. As a result, terrorism is a threat to a nation's economic, political, and social security, as well as a major factor associated with underdevelopment, because it discourages both domestic and foreign investment, lowers quality of life, destroys human and social capital, and damages citizen-state relationships, undermining democracy, rule of law, and the country's ability to promote development (Adebayo, 2013). On this point, the purpose of this research is to look at terrorism and the Nigerian economy, as well as an assessment of the Boko Haram insurgency in Nigeria's impacted states.

1.3 Objectives of the study

The primary objective for the study is as follows

1.     To find out the cause of Boko Haram insurgency in Nigeria

2.     To find out ways the Boko Haram crisis poses a threat to Nigeria’s economy

3.     To find out  the implications of Boko Haram crisis on Nigerian economy

4.     To find out ways of curbing the activities of Boko Haram in Nigeria

1.4 Research hypothesis

1.     What is the cause of Boko Haram insurgency in Nigeria?

2.     What are the ways the Boko Haram crisis poses a threat to Nigeria’s economy?

3.     What are the implications of Boko Haram crisis on Nigerian economy?

4.     What are the possible ways of curbing the activities of Boko Haram insurgency in Nigeria?

1.5 Significance of the study

The significance of this study cannot be underestimated as:

l  This study will examine  Of Terrorism And Nigerian Economy; An Assessment Of The Boko Haram Insurgence

l  The findings of this research work will undoubtedly provide the much needed information to government organizations,  ministry of defence and academia.

1.6 Scope of the study

This study examines terrorism and Nigerian economy: An assessment of the Boko Haram Insurgence. This study will be delimited to Zamfara state.

1.7 Limitations of the study

This study was constrained by a number of factors which are as follows:

 just like any other research, ranging from unavailability of needed accurate materials on the topic under study, inability to get data

Financial constraint , was faced by  the researcher, in getting relevant materials  and  in printing and collation of questionnaires

Time factor: time factor pose another constraint since having to shuttle between writing of the research and also engaging in other academic work making it uneasy for the researcher

1.8 Operational definition of terms

Terrorism: the unlawful use of violence and intimidation, especially against civilians, in the pursuit of political aims

Economy: he state of a country or region in terms of the production and consumption of goods and services and the supply of money