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Effect of Terrorism on the Economy of Nigeria

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Effect of Terrorism on the Economy of Nigeria

ABSTRACT

The study examined the effect of terrorism on the economy of Nigeria. The specific objectives of the study were; to examine the effect of terrorism on the Gross Domestic Product (GDP) of Nigeria; to ascertain the effect of terrorism on the Foreign Direct Investment (FDI) in Nigeria and to evaluate the efforts of Nigerian government in fighting terrorism as a tool in enhancing economic growth. The study employed Expo-Facto (Historical) design and qualitative in analysis. The subject matter of the study geared towards examining the effect of terrorism on economic growth of Nigeria in the specific areas of GDP and FDI between 2010 and 2020. From the data analyzed, it is evident that terrorism has become a threat to Nigeria’s economic growth in the reviewed years as evident in the annual reports; such as GDP reports, FDI reports, Economic Growth Index, Nigeria Terrorism Index, among others which are indicators of Economic Growth.  From the investigation, the study revealed that terrorism has significant negative effect on Gross Domestic Product (GDP). More so, the study revealed that terrorism has posed series of threats to Nigeria’s economic growth through the inflow of investment into the country. More so, the study established that Nigerian government has made many efforts towards countering terrorism as a tool in enhancing economic growth but none of the efforts has reduced terrorist activities in Nigeria between 2010 and 2020 neither improved economic growth over the years. The study recommended among others that there is urgent for Nigerian government to come with a tangible domestic economic policy to boost her GDP by focusing more on economic sector which is the surviving pillar of every nation eg creation of employment opportunity for her unemployed youth to curb restiveness.

Keywords: Terrorism; Employment Opportunity; Gross Domestic Product; Economic Growth

Authored by
Amah, Chijioke Jonathan and Prof Fred O. Eze

FULL PDF   |   DOI: 10.5281/zenodo.8242135

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