The Abuja Chamber of Commerce and Industry (ACCI) has issued a strong challenge to the Federal Government, urging it to treat security as a top priority to rescue struggling businesses and drive national economic growth.
Insecurity: A Direct Threat to Productivity
ACCI President, Emeka Obegolu, delivered this critical message in Abuja on Tuesday, 17 December 2024. He stated plainly that the pervasive insecurity across Nigeria poses a direct and immediate threat to commercial operations and the country's overall productivity.
Obegolu highlighted that many businesses are now operating in an increasingly fragile environment. He pointed to specific issues like banditry, kidnapping, farmer-herder conflicts, and illegal mining as major disruptors. These crises have severely impacted transportation networks, sent logistics costs soaring, displaced farmers from their lands, and put the lives of workers at risk.
Consequences: Capital Flight and Stunted Growth
The ACCI leader outlined the severe consequences of the current situation. He revealed that numerous companies have been forced to suspend expansion plans and halt ongoing projects. A significant number have also chosen to redirect their investments to safer locations, either within other parts of Nigeria or outside the country entirely.
"If the trend persists, Nigeria faces the risk of capital flight, declining productivity, weakened investor confidence and worsening socio-economic conditions," Obegolu cautioned. He emphasised a fundamental economic truth: "A secure country attracts investment, an insecure one repels it." No nation, he argued, can achieve meaningful economic advancement without first securing the safety of its people and assets.
ACCI's Prescriptions for Lasting Solutions
While acknowledging government efforts like the Nigeria Livestock Transformation Programme (NLTP), Obegolu identified open grazing as a persistent driver of rural unrest. "This outdated practice continues to trigger communal clashes, farmland destruction, and population displacement," he said.
The ACCI strongly advocates for a national shift to modern ranching systems. Their recommendations include:
- Establishing structured grazing reserves and well-designed ranching estates.
- Developing feedlots and advanced livestock development centres.
- Creating veterinary centres to enhance animal health.
On the issue of illegal mining, Obegolu called for the adoption of advanced technology. He proposed the deployment of enhanced satellite and space-based monitoring systems to detect illegal activities in real time, track changes in land use, strengthen oversight, and enable rapid enforcement. "With modern geospatial intelligence, Nigeria can curb illegal mining, protect vulnerable communities and restore investor confidence in the solid minerals sector," he asserted.
Looking ahead, Obegolu stated that the ACCI remains committed to playing a catalytic role in Nigeria's economic development. For the coming year, 2026, the Chamber has planned a robust series of activities designed to strengthen the business ecosystem. These initiatives, intended to be executed within a secure and stable environment, include:
- A National Livestock Conference and Exhibition.
- A Renewable Energy Conference and Exhibition.
- A Circular Economy Conference.
- An International Railway Conference and Exhibition.
- The 21st Abuja International Trade Fair.
