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Insecurity, number one economic challenge facing Nigeria, others – AfDB

Insecurity is now the number one challenge to the economic development of Nigeria and other nations of Africa, the African Development Bank said on Tuesday.

President of AfDB, Akinwumi Adesina, disclosed that insecurity was currently shrinking investments in Nigeria and Africa in general.

In series of tweets via his official Twitter handle on Tuesday, the AfDB president stated that insecurity was no longer a political issue but an economic concern.

He said, “Insecurity is now the number one challenge to Africa’s development. Terrorism is shrinking Africa’s investment space.

“Insecurity is no longer a political issue. Insecurity is an economic issue.”

Adesina said security and development were linked and called for security stability in Africa.

He said there was a need for new monetary instruments on the continent so as to protect investments in nations of Africa.

Adesina tweeted, “We must no longer decouple security and development. We must ensure security stability in Africa.

“Africa needs new financial instruments to protect and secure investments in countries and regions against rising insecurity.”

A Twitter follower of the AfDB president by the name Munywanisa, urged Adesina to speak to Nigeria’s President, Major General Muhammadu Buhari (retd.), on the rising state of insecurity in Nigeria.

Munywanisa said, “His (Adesina) own Nigerian government gave up the Northern region to a rag tag Boko Haram group.

“As insecurity becomes number one challenge, he should use his voice as the head of Africa’s biggest financial institution to call Buhari to order.”

Another follower, @Pensage, tweeted, “It’s (insecurity) always been. It’s only now physicalised more than ever.”

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