The mother of the insecurity issue in Nigeria is corruption. Prof Magnus Kpakol, Chairman of Economic Growth and Development Center (EGDC) describes the practice of corruption as Witchcraft Economics. As he puts it, witchcraft economics exists when your consumption of goods and services is not determined by your productive ability. As shown below, Corrupt practices will lead to Low economic potency, exposing a condition of Human Capital Deficiency. Human Capital Deficiency will result in un-competitiveness and high rates of poverty. An economy suffering from Human Capital Deficiency will not be able to compete with the rest of the world. This will lead to low revenue and income and a high poverty rate. Un-competitiveness will also lead to Insecurity. There will be high insecurity because the people will agitate for better living conditions, and food security, etc.
To tackle Insecurity, the circle must be broken by a deliberate and intentional act from the government and the people. We need to increase our stock of human capital through training involving, upskilling and reskilling.
