The paper examined the insecurity situation in Nigeria and its implications for business investment, operations and sustainable development. The evaluation of the level and dimension of insecurity which was based on secondary data and observations among authors in different places, zones and walks of life as expressed in their comments, as well as, on concrete evidences of insecurity incidence in different parts of Nigeria, indicated that the insecurity challenge in the country is enormous and complex and would continue to be, if the situation remains unabated. We therefore emphasized the need to evolve a safe business environment that allows for effective business activities and a sustainable development process. The security management models recommended to achieve this, are aimed at combating the creators and perpetuators of situations of insecurity, and simultaneously addressing and removing the sources of dissatisfaction and discontentment which spur security breaches and the involvement of all stakeholders both in public and private capacity-government, business organizations, civil society, religious groups, communities and individuals- to supply resources, expertise and information that are required to ensure a safe environment.
Nigeria in recent times has witnessed an unprecedented level of insecurity. This has made national security threat to be a major issue for the government and has prompted huge allocation of the national budget to security. In order to ameliorate the incidence of crime, the federal government has embarked on criminalization of terrorism by passing the Anti-Terrorism Act in 2011, installation of Computer-based Closed Circuit Television cameras (CCTV) in some parts of the country, enhancement of surveillance as well as investigation of criminal related offences, heightening of physical security measures around the country aimed at deterring or disrupting potential attacks, strengthening of security agencies through the provision of security facilities and the development and broadcast of security tips in mass media (Azazi, 2011). Despite these efforts, the level of insecurity in the country is still high. In addition, Nigeria has consistently ranked low in the Global Peace Index (GPI, 2012), signifying a worsened state of insecurity in the country. Hence, Adagba, et al (2012), Uhunmwuangho and Aluforo (2011) are of the view that the efforts of government have not yielded enough positive result.
With the lingering security challenges and the inability of the security apparatus of the government to guarantee safety and security in the country, the question that borders everyone in Nigeria today is that “can there be security?” Is security of lives and properties achievable? Apparently, the security situation in Nigeria appears or at least have remained insurmountable and many people have argued that government at all levels has not done enough by not confronting the situation head on and dealing with it decisively, others have argued that the situation has a political undertone or inclination calculated to serve the interest of certain political gods, who have been dissatisfied and disgruntled about the political manifestations in the country.