Profiting from Violence: Insecurity as an Economic Enterprise in Nigeria

Background: First, at the elites’ level, insecurity creates enabling environment for the accumulation of wealth through unlawful extraction of mineral resources, diversion of government funds, inflated security expenses, and procurement of military equipment etc. Objective: This paper argued that there are two inter-connected groups that profit from insecurity in Nigeria. Methods: In a conflict and resource-rich areas, political and economic elites utilised the benefit of instability to facilitate illegal access to natural resources and at the same time distracting public attention from their illegal practices. Results: Addressing insecurity through military force alone may not produce sustainable results since they fail to address the primary economic inducements that make violence profitable. Conclusion: Insecurity becomes a mechanism through which elites maintain their economic and political power.