The Security Factor in Business Environment across Nigerian States

"This paper examines security as an important element of business environment across Nigerian states. Crime and Security are threats to social and economic life. It increases the cost of doing business, business risks and uncertainty. While official national statistics point to declining crime rates since 1996, it is not clear the extent to which the data is representative of security trends in the country, given the possible incidences of under reporting. The disparity between the trends is shown by national statistics and the evidence from surveys further reinforces the possibility of under reporting. Many recent surveys identify security as one of the major concerns of investors and business people in Nigeria. Tackling crime and insecurity is therefore a major challenge of business environment reforms in Nigeria."