Insecurity and Economic Development in Nigeria

Abstract

The continuous rise in Insecurity and deterioration in the economic development in Nigeria call for a concern among researchers and policy makers over the years.  However, these two hydra-headed problems still remain the greatest challenges facing nations all over the world. This study therefore, examines the implication of insecurity on economic development in Nigeria. With the use of trend analysis, descriptive statistics and Pearson correlation of failed state index, human development index and Legatum’s prosperity index, the study reveal an inverse relationship between insecurity and economic development in the country. to ensure economic development in Nigeria therefore, the study recommends various measures of curbing insecurity including preventive community policing, human development centered growth perspective, equitable distribution of resources as well as channeling of resources to frontline sectors of the economy among others.

Keywords: Insecurity, economic development, failed state index, prosperity index