Insecurity drowns the Nigerian economy. The present situation seeks the urgent intervention of the president. There is a great decline in domestic food production. This was said to happen because of the unfriendly weather to business.
Nigeria is currently facing an economic downturn which demands immediate attention. The perception of Nigerians has affected the economy greatly as they believe the climate is not favourable for business. Food production is at severe risk. This was aired by the NACCIMA (Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture) President. He further said insecurity propelled the increase in production and lessened consumption of goods.
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Insecurity propelled the decline in foreign investment.
The survey has it that there is a decline in foreign investment to a percentage of 81%. This survey was carried out by the National Bureau of Statistics (NBS). They further noted that the loss of foreign direct investment is nothing but only a one-sided dimension. They said a focus should be placed on insecurity within the country.
Since the devaluation of the Naira value, the cost of production and transportation has been severely affected. For a currency to gain the necessary value it needs, the Nigerian government must take conscious efforts toward the curb of insecurity in the country.
The government should be notified that without taking a step there can’t be activated. The country is at a stage that demands necessary actions without this, the insecurity will eat deep into the nation.
The full growth of insecurity propels state anarchy within the country. Both the president and the citizens are no longer safe within its region. It is of esteemed value if the president could buckle up to make the necessary change.
Insecurity calls for urgent attention
The federal government is called upon to quickly address the situation. It was said that if insecurity is not attended to, it will lead to an effect that will prove difficult to control. The federal government was asked to face the food sector. They also said poor infrastructure should be duly built.
The governor should be bent on addressing the incessant security issue. The major reason for the call is to plead with the government to take steps to curb the whole insecurity issue.
The hike in food prices, the hike in fuel prices, and currency devaluation all boil down to the rising insecurity threat within the country. If no action is taken in this early stage, then we should know the country is deemed to collapse.