Effect of Boko Haream in Nigera Econs

Topics: Nigeria, Local Government Areas of Nigeria, Economics Pages: 11 (2382 words) Published: March 23, 2013
To say that the deadly activities of the
Islamic sect, Boko Haram, are killing the
economy of the North is an
understatement. In most states in the
North, the devastating socio-economic
effects of the sect’s serial killings and
bombings, especially in Borno, Yobe, Niger,
Kaduna, Kano, Plateau (which is more of
ethno-religious conflict), Kogi, Bauchi and
recently ,Sokoto, has destroyed economic
and commercial activities with many people
relocating to other places.
In Maiduguri, Borno State, where the sect
originated, the frequent bombings and
clashes between Boko Haram and security
agents have weighed down seriously on
commercial and businesses activities in the
city as many business have reportedly
crumbled while many people have fled the
The Maiduguri Monday Market said to be
the biggest market in the city is reported to
have been seriously affected as hundreds of
shop owners, especially Southerners are
said to have closed their businesses and left
the troubled city. About half of the 10, 000
shops and stalls in the market were said to
have been abandoned by traders who have
fled the city.
Banks and their customers are also said to
be operating under difficult situation and
have reduced their business hours to guard
against being attacked by members of the
According to the Borno State Commissioner
of Information, Mr. Inuwa Bwala, it will take
the state 20 years to recover from the
current predicament it has found itself.
Bwala, in a telephone interview with
THISDAY said the security situation has
taken its toll on the economy of the state as
many people have fled.
According to the commissioner, “it is only
natural that when you have such a situation
as we have now, it will affect the economic
fortunes, especially where people go out to
do business under the atmosphere of fear.
So there is no doubt that the crisis has
taken its toll on our resources, on our
business and on our economy. It will take
us a very long time, not less than 20 years
to recover and get to the position we were
before the crisis started.
“It is our prayers that those who were
scared away from Borno State out of fear,
those who closed shops out of fear, those
who fled in the height of the crisis and the
general apathy among business men to
invest in Borno State, should do a rethink
and come back because the atmosphere is
peaceful now.
“Local businesses are beginning to pick up;
we are in the process of recovering. The
state government has intervened in various
business sectors, especially the revival of
our industries, alleviation of poverty,
granting of business loans, development of
business and technical skills and so many
other programmes that the government
has initiated for us to bring back the state
on to stream and let people imbibe the
spirit of self-sustenance, let them imbibe
the spirit of thriving even in the face of
challenges. So it is our prayers that we will
recover soonest.
“We are optimistic that Borno will be back
on its feet as the economic ‘Heart Beat’ of
the North-east. Mind you Borno has border
links with three international communities
and all these routes had been very viable
business routes. We hope that when we
renew our links with these communities,
businesses shall boom again in Borno State
and the nation at large”.
Since January 20, 2012, when the militant
sect launched its onslaught on the
metropolitan city of Kano, life has not been
the same again in the city which is noted as
the heart of the development of the North.
The attack on Kano has been very
devastating because the city has always
been the commercial centre of western
Sudan for the past 500 years. The city had
been economic base of the North before
even neighbouring countries like Niger
Republic, Chad and northern Cameroun
before the evolution of the Nigerian nation.
But today the story is different as business
and commercial activities have taken a...
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