The Nigerian Economic Summit Group (NESG) has warned that worsening insecurity across Nigeria is weakening investor confidence, disrupting economic activities and threatening the country’s efforts to attract long-term investment.
In a statement issued on Sunday, October 11, ahead of the 32nd Nigerian Economic Summit, the group said persistent attacks on farming communities, oil installations, electricity infrastructure and telecommunications facilities were reducing productivity, increasing business costs and discouraging investors.
The NESG explained that insecurity raises the risks associated with doing business in Nigeria, potentially increasing borrowing costs, limiting capital inflows and pushing investors towards short-term opportunities rather than productive investments.
Agriculture remains particularly vulnerable. Banditry, terrorism and farmer-herder conflicts have displaced farming households, especially in the North-West, North-Central and North-East, reducing cultivated land and worsening food insecurity.
The group also identified crude oil theft and attacks on energy infrastructure as major obstacles to economic growth. Disruptions to oil production reduce export earnings and foreign exchange inflows, while damage to electricity transmission lines and telecommunications facilities affects businesses, digital transactions and essential services.
To address these challenges, the NESG proposed stronger surveillance of oil installations, improved transparency in petroleum operations, better protection of agricultural corridors and technology-driven early warning systems.
It also called for community-based security arrangements and measures to address poverty, unemployment and social exclusion, arguing that military operations alone would not provide a lasting solution.
The recommendations will feature in discussions at the 32nd Nigerian Economic Summit, scheduled for October 26 and 27 in Abuja. The meeting is expected to bring together government officials, business leaders, security experts and development partners to examine ways to protect economic activities and restore investor confidence.
For Nigeria, the concern extends beyond security itself. Without safer farming communities, reliable infrastructure and predictable operating conditions, businesses may delay expansion, limit recruitment and direct investment elsewhere.
The NESG maintained that improving security must go hand in hand with economic development if Nigeria is to attract productive capital, create jobs and achieve sustainable growth.
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