Security Challenges and Economic Development in Emerging Economics: The Nigeria Experience

Abstract

The study focused on security challenges and economic development in emerging economic in Nigeria and solutions. 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. Nigeria has witnessed an unprecedented security challenge occasioned by the activities of militants in the South-South region, kidnappers in the south east, violent armed robbery in almost parts of the country, political assassination, ritual killings and more recently activities of Boko Haram in some parts of the northern region especially north east. These social menaces, when put together impinge on the security of lives and property of both Nigerian citizens and foreigners living or even trying to invest in the country. To ensure economic development in Nigeria therefore, the study recommends various measures of curbing security challenges including preventive community policing, human capital development, equitable distribution of resources as well as channeling of resources to frontline sectors of the economy among others. This paper recommend that Federal government should engage peace and conflict resolution experts in dealing with issues concerning Fulani herdsmen and Farmers crises and that ranching method of cattle rearing location across the country while the herdsmen should be given needed training for effective and efficient management of the ranching. Also, effective leadership and good governance as a panacea to solving problems of insecurity, unemployment, poverty, hunger, disease, among other negative indices.