How to address the insecurity challenge in North-Eastern Nigeria
SBM Intelligence says between January and November this year, there were 142 incidents of the Boko Haram insurgency in North-Eastern Nigeria. That is an average of 13 incidents a month. Joining CNBC Africa to paint a picture of the security situation in North Eastern Nigeria and its economic cost are; Joachim MacEbong, Senior Analyst at SBM Intelligence and Ayodeji Ebo, Senior Economist and Head of Research & Strategy at Greenwich Merchant Bank.
Tue, 08 Dec 2020 09:10:35 GMT
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AI Generated Summary
- The persisting threat of the Boko Haram insurgency in North-Eastern Nigeria, with an average of 13 incidents per month, poses a significant challenge to the region's security and stability.
- The economic implications of insecurity, including adverse effects on food production, inflation rates, and foreign direct investment, highlight the urgent need for comprehensive security measures to attract investors and sustain economic growth.
- The upcoming address by the President to the National Assembly and calls for a change in the service chiefs underscore the necessity for strategic shifts in security approaches and leadership to effectively combat the escalating insecurity and protect the economic well-being of North-Eastern Nigeria.
The security situation in North-Eastern Nigeria continues to deteriorate as recent data from SBM Intelligence shows that between January and November of this year, there have been 142 incidents of the Boko Haram insurgency. This averages to about 13 incidents per month, highlighting the persistent threat of insecurity in the region. Joachim MacEbong, a Senior Analyst at SBM Intelligence, emphasized the gravity of the situation, pointing out that despite government claims of progress, the reality on the ground paints a different picture. Over 1,600 people have lost their lives due to the insurgency, with recent high-profile attacks, such as the killing of farmers in Borno State, underscoring the ongoing challenges faced. The economic impact of this insecurity is also significant, with Ayodeji Ebo, a Senior Economist at Greenwich Merchant Bank, highlighting the adverse effects on food production and inflation rates. The uncertainty created by the insecurity in the North has led to a decrease in foreign direct investment and poses challenges for both domestic and international investors. This scenario not only affects economic growth but also exacerbates unemployment, as investors are hesitant to operate in environments plagued by insecurity. As the nation grapples with these challenges, all eyes are on the President's upcoming address to the National Assembly. The expectation is for a comprehensive plan to address the multi-faceted security issues, encompassing not just the Boko Haram insurgency but also banditry and kidnappings in other regions. The need for a strategic shift in approach is evident, as the current strategies have failed to yield significant results. Calls for a change in the service chiefs have also grown louder, with concerns raised about the effectiveness and suitability of the current leadership in tackling the security crisis. Legal considerations, as well as performance metrics, indicate a need for fresh perspectives and innovative strategies to combat the escalating insecurity in North-Eastern Nigeria. As the nation stands at a critical juncture, decisive action is essential to prevent further escalation of the security threat and safeguard the economic stability of the region.