The Impact of Terrorism on Economic Development in Sub-Saharan Africa Evidence from Nigeria (2014–2024)
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Abstract
This study examines the impact of terrorism, particularly the activities of Boko Haram, on economic development in Nigeria between 2014 and 2024. Terrorism has become a significant threat to socio-economic stability in Sub-Saharan Africa over the past years and Nigeria has been among the worst hit countries. The paper concentrates on some of the important aspects of terrorism activity, destruction of public property, killings, kidnapping and ransom torture, and assesses their consequences on different dimensions of economic development which include; financial growth, human resource development, tourism, and social development. Descriptive research design was taken, and data were gathered using a structured questionnaire that was given to a purposely chosen sample of 66 respondents. They were analysed through descriptive statistics, correlation and regression analysis. The results indicate that every type of terrorism analysed in this paper has a major negative impact on the economic development. Specifically, murders were discovered to have the most significant effect, which underscores the fact that human capital is very crucial in the development of the economy. The findings also suggest that terrorism weakens the process of tourism development and adds to the social instability hence reducing the general development process. The conclusion of the study is that terrorism is a multidimensional risk to development in Nigeria and that there should be combined policy solutions that will both focus on security issues and the underlying socio-economic conditions.
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