NESG Identifies Insecurity as Key Barrier to Growth

The Nigerian Economic Summit Group (NESG) has stated that insecurity is the biggest obstacle to Nigeria's economic goals, warning that job creation, industrialization, and shared prosperity cannot be achieved while farms, oil facilities, and infrastructure are under threat. The NESG emphasized that safety is a fundamental requirement for economic activity, stating that when security fails, productivity collapses, and investment retreats.

The group has made security a central theme for the 32nd Nigerian Economic Summit (NES #32), scheduled for October 26 and 27, 2026, in Abuja. The summit will include discussions on community-based security models and the role of security in economic development.

The NESG highlighted three areas where insecurity is impacting the economy: food production, oil revenue, and infrastructure. It noted that insecurity raises the cost of doing business and affects investor confidence.

The NESG believes that addressing the root causes of insecurity, such as poverty and inequality, is essential for restoring security and promoting economic growth.