Economics Project Topics

A Critical Analysis of the Insecurity and Its Implication on Economic Growth in Nigeria

A Critical Analysis of the Insecurity and Its Implication on Economic Growth in Nigeria

A Critical Analysis of the Insecurity and Its Implication on Economic Growth in Nigeria

Chapter One

Objective of the study

The objectives of the study are;

  1. To find out the effect of insecurity on business
  2. To find out the effect of foreign direct investment

CHAPTER TWO

LITERATURE REVIEW

Concepts of Insecurity and Economic Development

Insecurity as a concept is not new to societies and has existed over time. Nevertheless, it is pertinent to have a clear understanding of security in order to grasp the meaning of insecurity. Adofu I & Alhassan A (2018) perceive security as a social contract in which the people willingly surrender their right to the government which oversees their survival. Similarly, McGrew (1988) opines that the security of a nation hangs on two important pillars; firstly, the maintenance and protection of the socioeconomic order against internal and external threats and secondly, the promotion of a preferred international order which minimizes the threat to core values, interests, and domestic order. This clearly points to the need of the Armed Forces to secure against external aggression and to the importance of law enforcement agencies to maintain internal order. To this end, Nwanegbo & Odigbo (2013) see security as efforts by a nation to contain internal/external aggression, control crime, eliminate corruption and enhance growth towards improved quality of life for every citizen. Based on the foregoing, insecurity could be seen as the absence of security as discussed above. It is a condition where vulnerability to harm, loss of life, property or livelihood exists (Achumba et al, 2013). This is characterized by vulnerability of an individual or group to danger or harm against which they cannot take defensive action. In conceptualizing ED, it is noteworthy that growth and development are generally known to mean increase in both quantity and quality of available resources. Nonetheless, to Thirlwall (1999), development implies change in the process of economic and social transformation within the countries. It often follows an orderly sequence with shared characteristics across countries. Also, Todaro and Smith (2014) delineated the 3 basic societal 4 objectives namely life-sustenance, self-esteem, and freedom. They surmised that lifesustenance is concerned with the provision of basic needs, self-esteem (feeling of self-respect and independence) and freedom (peoples’ ability to determine their destinies). It is to be noted that all the foregoing concepts makes humans the ultimate beneficiaries of development through their inter-relations with the society to transform the environment. Therefore, the whole essence of development is to improve the potentials and capacities of mankind to overcome challenges and generally enhance the conditions for existence.

Theoretical Link Between Insecurity and Economic Development

Theories abound to serve as lenses to explain insecurity and ED such as seen by Wendt A, (1999) to include Development Theory, Revolutionary Guerrilla Warfare Theory and the Frustration-Aggression Theory (FAT) amongst others. This study will however be hinged on the FAT developed by John Dollard (1939), flowing from which Wendt A (1999) believes that aggression results from blockage or frustration of a person’s efforts to attain a goal thereby causing aggression. Relatedly, if the cause of the frustration cannot be confronted, the aggression shifts unto an innocent target manifested through violence. The FAT can thus be used to explain riots, insurgent activities, and revolutions. In economic sense, the theory attempts to explain the correlation between poverty and insecurity, implying that emergence of conflicts especially in developing countries is caused by the prevalence of poverty. It further predicts that ED will be hindered in an environment of insecurity as currently witnessed through BHT activities in NE Nigeria, with wide possible range of policy responses for mitigation. It is in this regard that FA Theory was chosen as the theoretical framework for this study

THEORETICAL FRAMEWORK

This study adopts the Democratic Peace Theory to explain the Security challenges in Nigerian. According to this theory, security largely depends on encouraging liberal institutions to discharge their responsibilities creditably; and a security policy must have as its long-term the spread of liberalism (Doyle, (1998). Therefore, the route to peace is to encourage democratic system, the universal respect for human rights and the development of civil society. But such conclusion depends largely on untroubled and robust correlation between the democratic nature of a state and peaceful inclination. Thus, the democratic peace theory assumes that liberal states do not fight wars against other liberal states. This theory was first enunciated in a keynote article by Michael Doyle in Journal of Philosophy and Public Affairs (Doyle, 1998). Thus, Doyle argued that there was a difference in liberal practice towards liberal societies and liberal practice towards non-liberal societies. From security point of view, the recommendations of democratic peace theory are clear.

 

CHAPTER THREE

RESEARCH METHODOLOGY

INTRODUCTION

In this chapter, we described the research procedure for this study. A research methodology is a research process adopted or employed to systematically and scientifically present the results of a study to the research audience viz. a vis, the study beneficiaries.

RESEARCH DESIGN

Research designs are perceived to be an overall strategy adopted by the researcher whereby different components of the study are integrated in a logical manner to effectively address a research problem. In this study, the researcher employed the survey research design. This is due to the nature of the study whereby the opinion and views of people are sampled. According to Singleton & Straits, (2009), Survey research can use quantitative research strategies (e.g., using questionnaires with numerically rated items), qualitative research strategies (e.g., using open-ended questions), or both strategies (i.e., mixed methods). As it is often used to describe and explore human behaviour, surveys are therefore frequently used in social and psychological research.

POPULATION OF THE STUDY

According to Udoyen (2019), a study population is a group of elements or individuals as the case may be, who share similar characteristics. These similar features can include location, gender, age, sex or specific interest. The emphasis on study population is that it constitutes of individuals or elements that are homogeneous in description.

This study was carried to examine a critical analysis of the insecurity and its implication on economic growth in Nigeria.  Selected residents in Kaduna local government form the population of the study.

SAMPLE SIZE DETERMINATION

A study sample is simply a systematic selected part of a population that infers its result on the population. In essence, it is that part of a whole that represents the whole and its members share characteristics in like similitude (Udoyen, 2019). In this study, the researcher adopted the convenient sampling method to determine the sample size.

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

INTRODUCTION

This chapter presents the analysis of data derived through the questionnaire and key informant interview administered on the respondents in the study area. The analysis and interpretation were derived from the findings of the study. The data analysis depicts the simple frequency and percentage of the respondents as well as interpretation of the information gathered. A total of eighty (80) questionnaires were administered to respondents of which only seventy-seven (77) were returned and validated. This was due to irregular, incomplete and inappropriate responses to some questionnaire. For this study a total of 77 was validated for the analysis.

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

Introduction

It is important to ascertain that the objective of this study was to ascertain a critical analysis of the insecurity and its implication on economic growth in Nigeria. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of a critical analysis of the insecurity and its implication on economic growth in Nigeria 

Summary

This study was on a critical analysis of the insecurity and its implication on economic growth in Nigeria. two objectives were raised which included: To find out the effect of insecurity on business and to find out the effect of foreign direct investment. A total of 77 responses were received and validated from the enrolled participants where all respondents were drawn from selected residents in Kaduna state. Hypothesis was tested using Chi-Square statistical tool (SPSS).

 Conclusion

Security challenges in any environment constitute threat to lives and properties, hampered business activities, and discourage local and foreign investors, all of which stifle and retards development of a country. It is therefore apparent that national security is a desideratum, sine qua non for business and economic growth and development of any country (Oladeji and Folorunso, 2007). The Federal Government (FG) should formulate and effectively implement policies and programmes capable of addressing the root causes of insecurity in Nigeria such as Ethno- religious conflict, systemic and political corruption, weak security system and unemployment among others

Recommendation

Federal government should establish a more viable and result oriented agency capable of addressing the problem of abject poverty/ unemployment among large population of Nigerians, this will aid in reducing the level of crime and violence in the country. Government must be proactive in dealing with security issues and threats, through training, modern methods of intelligence gathering, and intelligence sharing, logistics and deploying advanced technology in managing security challenges. This will add more values in checking incessant bombings, robbery, kidnapping and violent crimes/crises by hoodlums in the country. Federal government should include Security Management in school curriculum at all levels of education in Nigeria. This will enable the Nigerian youths to appreciate the importance of security in a secular state like Nigeria.

References

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  • Adagba, O., Ugwu, S. C. and Eme, O. I. (2012). Activities of Boko Haram and Insecurity Question in Nigeria, Arabian Journal of Business and Management Review, Vol. 1, No.9, 77-99.
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  • Eme, O. I., & Onyishi, A. (2011). The Challenges of Insecurity in Nigeria: A Thematic Exposition.Interdisciplinary Journal of Contemporary Research in Business, 3(8),
  •  Epele, A. (2006). Corruption and the Nigerian Society: Causes, Effects and the Futility of Solutions.The Politics Magazine. University of Benin. Benin City.
  • Ezeoba, S. L. (2011). Causes and Effects of Insecurity in Nigeria. The National Scholar, 8(2), 28-38.
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