Friday, September 30, 2022

Insecurity no longer political issue but economic threat: AfDB President

“Terrorism is shrinking Africa’s investment space.”

• March 2, 2021
Akinwunmi Adesina
Akinwunmi Adesina

Akinwunmi Adesina, the President of the African Development Bank, has said recent terrorist and bandits are shrinking Africa’s investment space.

Banditry has worsened insecurity in Nigeria’s northern region already bedevilled by Boko Haram and ISWAP’s attacks. 

In February, Boko Haram terrorists launched multiple missiles on the outskirts of Maiduguri, killing several civilians.

In February, bandits attacked schools in Niger, and Zamfara, kidnapping scores of students, who were released after a series of negotiations and ransom paid.

These activities, according to Mr. Adesina, had adversely affected the growth of the continent’s economy.

Mr. Adesina, in a series of tweets on Tuesday, said insecurity had grown from being a political problem to an economic challenge.

He noted, “Terrorism is shrinking Africa’s investment space. Insecurity is no longer a political issue. Insecurity is an economic issue.”

“We must no longer decouple security and development. We must ensure security stability in Africa,” he added.

He suggested that “Africa needs new financial instruments to protect and secure investments in countries and regions against rising insecurity.”

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette


Sanwo-Olu bans MC Oluomo’s rival transport union RTEAN in Lagos 

He added that suspension became necessary to prevent further acts of violence within the state.

SP Benjamin Hundeyin

Hot news Home top

Police arrest 22 suspects over Lagos motor park violence

The crisis erupted over control of the new park created under the Bridge at Iyana-Oba, Ojo area.


Iranian government arrests journalist, cracks down on protesters

Security forces used live ammunition, shotgun pellets and other metal projectiles, Amnesty said.


Kanu Heart Foundation conducts free heart screening in Enugu

Kanu said that the foundation was using the day to create awareness on the prevention and treatment of heart-related problems.


Civil Defence confiscates 21,600 litres of stolen petrol in Badagry

“The products were kept in barges…with the motive to reload them all into a boat and proceed on their journey to the Republic of Benin.”



Pilgrimage absconder arrested upon return to Nigeria

Mr Ezekiel was among the six pilgrims who absconded in Israel during the 2019 Easter Pilgrimage.