EFFECT OF SECURITY CHALLENGES ON PURCHASING AND ITS IMPLICATIONS ON SUSTAINABLE ECONOMIC DEVELOPMENT OF NIGERIA

Abstract

This paper examines the effect of security challenges on purchasing and its implications on sustainable economic development of Nigeria. The paper reviews the current significant factors contributing to insecurity in Nigeria and analyzes their impacts on the purchasing specifically and the economy at large. The paper adopts historical research methods to review related works on security issues in the country and screens their findings in the light of present security issues. The paper further attempts a critical review of major internal security challenges hitherto confronting the country; such as the Niger Delta crises, Jos crises, Boko Haram crises, El-zakzaky, Kidnappings in the South-east zone of Nigeria and crises by Fulani Herdsmen in the Northern part of Nigeria. The result of the analysis shows that these internal security challenges have overtime significantly contributed to bringing Nigeria to 148^th position on the list of peaceful countries in the world, making Nigeria just 15 positions away from war zones like Afghanistan.The paper also revealed that a negative relationship between foreign direct investment (FDI) and the Global Peace Index (GPI) over the years of rising insurgency, kidnappings and terrorism. To curb these issues, the paper therefore recommends among others that; there is need for a careful review of the Nigeria's National Security Policy. Also that the grazing bill should be reviewed to help mitigate the crisis between herders and farmers and an assimilation of registered civilian/community security outfits to partner with local law enforcement agencies