THE NIGERIAN BOKO HARAM: FROM THE INCEPTION OF TERRORISM TO THE STAGNATION OF AN ECONOMY

Abstract

The continued bombings, killings, kidnappings and the destruction of property by the Boko Haram is great concern to the Nigerian government and the international community. Its activities has severe economic impacts on those states in the northeast of Nigeria. For example, the financial services sector is the most affected; Banks have begun closing down their business outlets due to a decrease in economic activities in the area. Also, employees of these institutions are increasingly demanding that they be posted to less volatile branches. The mass emigration of Nigerian citizens, who are non-indigenes to the northern region and of the major conflict affected cities in the northeast of Nigeria, is a formidable threat posed by the Boko Haram to the Nigerian economy. This paper concludes that the poor economic conditions in Nigeria, in general and northeast, in particular is generated by the Boko Haram.