INFLUENCE OF CRIME AND TERRORIST ON ECONOMY SITUATION OF ONDO STATE IN NIGERIA

INFLUENCE OF CRIME AND TERRORIST ON ECONOMY SITUATION OF ONDO STATE IN NIGERIA

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Background of the Study

Crime is a public wrong. It is an act of offense which violates the law of the state and is strongly disapproved by the society. Crime is defined as acts or omissions forbidden by law that can be punished by imprisonment or fine. Murder, robbery, burglary, rape, drunken driving, child neglect and failure to pay taxes are examples of crimes. The term crime is derived from the Latin word “crimen” meaning offence and also a wrong-doer. Crime is considered as an anti-social behaviour. Each society may define crime in a different perspective. A crime may be legal or illegal. Illegal and punishable crime is the violation of any rule of administration or law of the state or practice of any wrongdoing and harmful to self or against third parties, provided in criminal law. Legal and not punishable crime is all acts of self-defense. However, one could classify the consequences of crime and terrorism by their economic and non-economic effects (Ogundiya, 2019). The economic effects could arise from several channels, but four of them seem to be particularly pervasive. First, terrorism has a direct effect on the economy through the destruction of human and physical capital (Imhonopi,, 2016). Second, terrorism is likely to induce counter-terrorism expenditure, thereby diverting expenditure from production-related activities to defence-related activities, which are generally considered to be less productive (Hoffman, 2016). Third, terrorist activities create economy-wide risks and uncertainties that distort the equilibrium resource allocation within a country by changing individuals savings, investment, and consumption behaviour. Moreover, this risk and uncertainty effect also leads to the redirection of foreign direct investments (FDI) away from the country with a higher risk to those with lower risks (Cilliers, 2016). Indeed, a recent World Bank study shows that FDI has been redirected from Nigeria to other West African countries, particularly Benin. Fourth, terrorism is known to negatively affect several sectors of the economy, especially tourism and financial markets (Adesoji, 2015). In this study, we focus on the influence of crime and terrorist on economy situation of Ondo State in Nigeria.

​​​​​​​Statement of the Problem

Crime and terrorism has a significant economic impact on both wealthy and poor countries. Terrorism's economic impact will inevitably be felt more strongly in low-income monocultural nations than in highly developed, diversified industrial economies. As a result, if the country's terrorist issue is not handled, it might result in greater investor apathy and a drop in FDI inflows, prompting institutional investors to look for more stable nations to invest in.  People's willingness to invest, acquire, or rent investment items lowers when they are worried about the state of the nation; as a result, any country that emanates an environment of insecurity naturally repels investment efforts from both foreign and local investors (Cilliers,2016). As a result, crime and terrorism is a threat to a country's socioeconomic, political, and social security, as well as a major factor in underdevelopment, because it discourages both domestic and foreign investment, lowers quality of life, destroys human and social capital, and damages citizen-state relationships, undermining democracy, rule of law, and the country's ability to promote development (Okafor, 2016). On this point, the purpose of this research is to look at the influence of crime and terrorist on economy situation of Ondo State in Nigeria.

​​​​​​​Objective of the Study

The general objective of the study is to examine the influence of crime and terrorist on economy situation of Ondo State in Nigeria.

1. To evaluate the causes of  crime and terrorism in Ondo state.
2. To examine the effect of crime and terrorism on the  economic activity of Ondo state.
3. To find out  the implications of  crime and terrorism  on the development of ondo state.
4. To find out ways of curbing  crime and terrorism  in Ondo state.
   1. Research Questions

The following questions have been prepared for the study:

1. What are the causes of  crime and terrorism in Ondo state?
2. What is  the effect of crime and terrorism on the  economic activity of Ondo state?
3. What are  the implications of  crime and terrorism  on the development of ondo state?
4. What are the ways of curbing  crime and terrorism  in Ondo state?
   1. Research Hypothesis

The following hypothesis have been formulated for the study:

H0: Crime and terrorism does not influence the economy situation of Ondo State

HA: Crime and terrorism does influence the economy situation of Ondo State

​​​​​​​Significance of the Study

The findings of this research work will undoubtedly provide the much needed information to government organizations, as they will be able to work hand in hand with security agencies so as to curb crime and terrorism in Ondo state.

 This study will be significant to the ministry of defence as it will expose them to the need to purchase more fire arms  and devise a better strategy that will help in combating crime and  terrorism.

This study will also be of benefit to the academic community as it will contribute to the existing literature on crime and terrorism.

​​​​​​​Scope of the Study

The study will evaluate the causes of  crime and terrorism in Ondo state. The study will also examine the effect of crime and terrorism on the  economic activity of Ondo state. The study will further  find out  the implications of  crime and terrorism  on the development of ondo state. Finally, the study will find out ways of curbing  crime and terrorism  in Ondo state. Hence, this study is delimited to Ondo State

​​​​​​​Limitation of the Study

This study was constrained by a number of factors which are as follows:

 just like any other research, ranging from unavailability of needed accurate materials on the topic under study, inability to get data

Financial constraint , was faced by  the researcher ,in getting relevant materials  and  in printing and collation of questionnaires

Time factor: time factor pose another constraint since having to shuttle between writing of the research and also engaging in other academic work making it uneasy for the researcher

​​​​​​​Definition of Terms

Crime: an action or omission which constitutes an offence and is punishable by law.

Terrorism: the unlawful use of violence and intimidation, especially against civilians, in the pursuit of political aims

Economy: the state of a country or region in terms of the production and consumption of goods and services and the supply of money.

 

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