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NATIONAL SECURITY CHALLENGES AND THE CHANGING ECONOMIC RELATIONS: PROVIDING ALTERNATIVE EXPLANATION FOR CURRENT ECONOMIC RECESSION IN NIGERIA
Abstract
The study was carried out to ascertain the relationship between national security challenges and economic recession in Nigeria. The study use descriptive research approach. Findings revealed a continuous relationship between national security challenges and current economic recession in Nigeria. Crises of security created a decline in peace, and made the country economically unsecured nation. This led to loss of foreign direct investment, and in many cases out right closure of many business operations. The presence of real threat to national security increased security expenditure as well, thereby reduces government investment in other sectors to promote economic progress. The study also found out that the various national security problems such as Boko Haram, Niger Delta Militancy and Ethnic, religious crisis diverted the attention of government from exploiting other avenue for economic growth. It was also discovered that the over emphasis on military determination of threats of security with little attention to economic security causes economic vulnerability, hence recession. National security challenges have negative influence on economic growth and the wellbeing of the people. Based on the findings, it was therefore recommended that government should have a rethink on national security with focus on peace and economic security as well as overhauling the entire social structure. This will create conducive environment for foreign investments to boost GDP, create jobs and encourage small and medium enterprises in the country.
Keyword: National Security, Economic Recession.