The Effect of Boko Haram's Insecurity on Nigeria's Economy

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Course: English 1102
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The Effect of Boko Haram’s Insecurity on Nigeria Economy
The economy of any nation of the world greatly relies on its security and the political structure of the nation. The world’s most secure nations have recorded the world’s largest economy, countries like USA, Germany, and United Kingdom among other developed nations are very secure. Boko Haram is one of the terrorist groups in the Northern Nigeria which was founded on the principles of poor political and economic structure of NigeriaCITATION Loi12 \p 138 \l 1033 (Loimeier 138). The terrorist organization came to prominence in the year 2009 following a series of attacks that they made killing several innocent civilians. The activities of these groups have magnified in the recent past and the organization membership has grown despite the efforts of the security agents both local and international. Based on religious ideologies and the need to declare Nigeria a sharia state, the organization has resulted to serious problems on the economy of Nigeria. This paper shall focus on how the economy of Nigeria has been affected by the terrorism activities of Boko Haram in Nigeria.
The Northern part of Nigeria where the Boko Haram originates from, is one of the parts of the country that are endowed with tourism attraction sceneries. The Tankar Game Reserve and the palace of the Emir of Kano are among the major tourists attraction sceneries in the Northen part of NigeriaCITATION Ado10 \p 15 \l 1033 (Adora 15). The tourism industry generates over N80 billion per a yearCITATION Ado10 \p 15 \l 1033 (Adora 15). Since the prevalence of the suicide bomber activities in the Northern part of Nigeria and its environs the amount of money generated from the tourism industry has been decreasing each year. With the prevalence of the terrorism activities in Nigeria the tourists fear visiting such beautiful sceneries because they fear they may be attacked. This further reduces the amount of revenue generated by the nation which consequently affects the economy of the nation as the government may not be able to provide some of the basic necessities required by the citizens.
The other sector of the economy that has been affected is the transport industry. The airline has been affected greatly based on the fact that the number of tourists traveling to the Northern parts of Nigeria has decreased. The Airline sector used to generate N3 billon on a daily basis, currently its making less than half the amount they used to makeCITATION Ado10 \p 16 \l 1033 (Adora 16). Vehicle transport activities to the North have been affected by the terrorism activities of the Boko Haram. The number of trips to the Northern part of Nigeria have decreased greatly. Before the year 2009 the trips to the north used to be at least every day, in the year 2010 the trips to the north decreased to 2 per a week, currently they have reduced to one but not on a regular weekly basisCITATION Com15 \p 110 \l 1033 (Comolli 110). A 13 or 59-seater vehicle requires twice as much efforts to fill up with passengers that it used to be. The fear of attacks from the terrorist groups have made passengers to cut dow...