Abstract
Terrorism, a deliberate creation for exploitation of
fear through violence or the threat of violence in the pursuit of power where
there is none or to consolidate power where there is very little has become a
recurring issue in Nigeria. Through the publicity generated by their violence,
terrorists seek to obtain leverage and power they otherwise lack to effect
socio-political or religious change. Its attendant consequences are numerous.
The work examined terrorism and the Nigeria economy with an examination of the impact
of Boko Haram insurgency on the Nigerian economy. In carrying out the study,
three questions were raised: What are the factors that led to the emergency of
Boko Haram insurgency in Nigeria? How has the insurgency affected Nigeria
economy? What measures have Nigeria government adapted to de-escalate the
activities of the insurgent? Three objectives were equally formulated to
address these questions raised. The study was anchored on relative deprivation
theory while three hypotheses were put forward to guide the study. We used
survey research design while data was collected through secondary source. All
the data collected from documentary evidence, focus group discussions and other
secondary sources were analysed through content analysis. The study found out
that, the killing of the founder of Boko Haram, Mohammed Yusuf and bad
governance triggered off the insurgency; that it has affected the economy of
Nigeria adversely as it led to low direct foreign investment in this country
and that Nigeria government has not devised an appropriate strategies to
decimate Boko Haram due to the fact that there is mole in the military and
other security organisation in Nigeria. Hence, it has exposed the failure of
the Nigerian state. The study made some useful recommendations which includes
that the government should cut off the sources of Boko Haram contact with other
militant groups in North Africa and the middle East to reduce the infiltration of
the sect by the more sophisticated groups outside the country and the
cooperation of Northern state governors in intelligence gathering and sharing
among others.
NIGERIA JOURNAL OF PUBLIC ADMINISTRATION AND LOCAL GOVERNMENT