THE Federal Government on Tuesday in Lagos lamented that insecurity across the country has taken toll on businesses and trade.
Speaking at the fourth “Security meet Business” programme organised by the Lagos Chamber of Commerce and Industry (LCCI), the Secretary to the Federal Government, Mr Boss Mustapha, said farmers/herders clashes, communal clashes, militancy in the Niger Delta, which disrupted oil production capacity had dealt a serious blow on the economy.
He said the country’s inability to meet the Organisation of Petroleum Exporting Countries (OPEC) production quota, banditry, child trafficking and armed robbery and Boko Haram insurgency had left the country bleeding.
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“The ugly trend has had its toll on economic activities as traders became circumspect in moving from one part of the country to another for their legitimate businesses. Agricultural production was affected as farmers could not plant, harvest and transport agricultural produce freely. It also, took its toll on foreign investment, instilling fear in potential investors. Private business concerns were affected, especially, those that operated in shopping malls which were the target of the terrorists. Construction on roads, mass housing sites and other government contracts were stifled with attendant toll on job creation,” he said.
Represented by the Permanent Secretary, Mrs. Amina Shamaki, the SGF said the government, since inception, had put in place serious security measures, which led to reduction in the nefarious activities of the terrorists.
Mustapha said: ” As a result, no local government area is under the control of terrorists, road blocks have been dismantled, economic activities resumed in markets, motor parts and today, bomb blasts have significantly, been silenced.‘’