The Lagos Chamber of Commerce and Industry, LCCI has advocated for the decentralisation of the security eco-system in the country to stem the rising tide of insecurity as it enables other levels of government take key security-related decisions and initiatives within their domains.
The chamber, which expressed concerns over worsening security situation in the country, noted that kidnapping, herders-farmers conflict, ethno-religious violence, vandalism, armed robbery, banditry, arson, and insurgency have become routine occurrences in Nigeria, which have impacted negatively on agriculture, investors’ confidence and government’s fiscal position and others.
President of the Chamber, Toki Mabogunje, who made the remark emphasised that the impact of the security crisis on the Nigerian economy remains profound and multi-dimensional, adding that it has the crisis has crippled many private and public investments across the nation. “Several businesses and investors in affected areas are currently counting their losses. Many households have lost their means of livelihoods, while some have been displaced.”