The Nigerian Economic Summit Group has warned that worsening insecurity is threatening investment, agricultural production, infrastructure development and economic growth, calling for coordinated action to restore confidence.
In a statement ahead of the 32nd Nigerian Economic Summit, the group said attacks on farming communities, oil installations, electricity infrastructure and telecommunications facilities were undermining productivity and increasing the cost of doing business. The warning was reported by The PUNCH and The Guardian.
Impact across productive sectors
NESG said insecurity is disrupting farming and contributing to food-security pressures, while oil theft and attacks on energy infrastructure constrain production and raise repair costs. Damage to electricity and telecommunications facilities can also interrupt commercial activity and essential services.
The group argued that insecurity can increase perceived investment risk, push up financing costs and encourage businesses to favour shorter-term commitments over productive investment. It called for measures that combine security operations with community engagement, protection of agricultural corridors, technology-supported early warning and stronger infrastructure monitoring.
The 32nd Nigerian Economic Summit is scheduled for 26 and 27 October in Abuja under the theme “Growth that Works: Delivering Jobs, Productivity and Shared Prosperity.” The security debate is directly linked to whether reforms translate into stronger production, jobs and household welfare. The proposed measures will require coordination across government, businesses, security agencies and local communities.
Sources: The PUNCH; The Guardian.