Impact of Social Unrest on Nigeria’s Socio-Economic Development

Abstract

One goal successive Nigerian regimes have vigorously pursued since her return to democracy in 1999, is the attempt to woo international investors into the nation’s resource-laden economy. The push for foreign direct investment (FDI) is because without foreign investments, no nation can make quantum leaps in her developmental strides. Over the years, Nigeria has been caught in the web of social unrest and insecurity like strikes, protests, secessionist agitations and demand for restructuring, terrorism, kidnapping and banditry. In 2020, Nigerian youths protested against police brutality leading to the famous #ENDSARs protests. There were also cases of labour unrests in the educational and oil sub-sectors of the economy, all of which took enormous tolls on Nigeria’s economy. Social unrest and insecurity have scared away potential investors and forced foreign investors in Nigeria to relocate to more secure African countries. Nigeria recorded N8.9 trillion trade deficit between 2012 and 2020, due to insecurity. This study examined the impact of social unrest on Nigeria’s socio-economic development. The paper utilized secondary data such as research reports, institutional publications, journals, magazines, newspapers and the internet. Anchored on the Frustration/Aggression theory, the paper identified poverty, unemployment, insecurity, police brutality, marginalization and trust deficit, as drivers of social unrest in Nigeria. The paper recommends job creation and empowerment opportunities to mitigate unemployment and poverty, rejigging Nigeria’s security architecture to safeguard lives and property; subjecting the police to civil authority; promotion of fairness, equity and justice to address marginalization and enthronement of transparency and accountability to regain public trust.