Insecurity Affecting Nigeria’s Economic Stability, Growth – Buhari

Nigeria President, Muhammadu Buhari, in his New Year address on Friday, noted that insecurity has a direct repercussion on our economic stability, growth and development.

The president noted that cycles of violence unleashed by groups like Boko Haram and others have thwarted the efforts of the government to undertake the social policy and associated investments that can transform the lives of Nigerians.

Buhari said, “The persistence of various forms of violence has meant that in the most affected parts of the country, the fabric of inter-communal harmony woven through years of investment of effort at building trust, mutual respect, and harmony has been threatened.”

“Insecurity as a challenge has direct repercussions on our national economic stability, growth, and development, setting us back at critical points through the destruction of public and private investments.”

“In parts of the country where chronic poverty, social exclusion, and disillusionment among sections of the youth were already a problem, the cycles of violence that have been unleashed by mindless groups like Boko Haram and others have thwarted the efforts of the government to undertake the social policy and associated investments that could make a huge difference in the quality of life of our citizens.”

He further stated that the “re-energising and reorganising the security apparatus and personnel of the armed forces and the police with a view to enhancing their capacity to dismantle the operations of both internal and external extremists and criminal groups waging war against our communities in some parts of the country”.

The major opposition party, the Peoples Democratic Party, on Friday, however, noted that the 2021 New Year address of President Muhammadu Buhari lacks strategy and direction.

The party noted that the statement of the president shows that Nigeria is heading to a failed state.