Insecurity threatens Nigeria’s economic growth — Gbenga Daniel

Former Ogun State Governor and Senator, Gbenga Daniel, has warned that Nigeria’s economic growth cannot be sustained without addressing the country’s security challenges.

Daniel made the submission on Thursday while delivering preliminary remarks at a forum titled “Economy and Security: The Future of Nigeria” held at the Sheraton Hotel in Lagos.

He said security should no longer be treated solely as a responsibility of the military, police and other security agencies, describing it as a critical component of the country’s economic infrastructure.

According to him, insecurity affects food production, transportation, business competitiveness and investment by creating an environment of fear and uncertainty.

“Security is not merely a matter for the military, police and other agencies. It is also an essential part of economic infrastructure,” he said.

Daniel cited the reported abduction of more than 7,800 people between July 2025 and June 2026 as an indication of the economic consequences of insecurity, arguing that such incidents should not be viewed merely as security statistics.

He acknowledged recent improvements in the economy, including 4.43 per cent GDP growth recorded in the second quarter of 2026, but said economic performance should ultimately be measured by its impact on ordinary Nigerians.

The senator questioned whether young Nigerians could secure decent jobs, farmers could access their farms safely, manufacturers could remain competitive and small businesses could withstand rising costs of power, transportation and finance.

He also called for a shift from dependence on oil wealth towards developing Nigeria’s human and productive capacity.

Daniel noted that the non-oil sector accounted for about 95.8 per cent of real GDP in the second quarter of 2026, highlighting agriculture, manufacturing, technology, construction, financial services, tourism, entertainment and the digital economy as key areas for future growth.

He said government must translate the growth of these sectors into jobs, higher incomes and improved living standards, particularly for the country’s youthful population.

“ If we give our young people opportunity, they will build Nigeria. If we deny them opportunity, frustration will grow and social stability will suffer,” he said.

Daniel cited Lagos and Ogun states as examples of how enterprise, infrastructure, population and opportunity could combine to drive economic activity, while urging the creation of similar conditions across the country.

He said entrepreneurs in cities such as Aba, Kano, Ibadan, Jos, Port Harcourt and Maiduguri should be able to operate with the same confidence as their counterparts in Lagos.

The senator expressed optimism about Nigeria’s future, saying the country possessed the population, resources, market and entrepreneurial spirit required for prosperity.

He, however, stressed that stronger security, effective leadership, infrastructure and discipline were necessary to convert the country’s potential into sustainable economic development.