Terrorism and Business Development in South East Nigeria (2000–2015)

The mass exodus of business men and women, cum traders, from the South Eastern part of Nigeria to other parts of the country and other parts of the world, in recent time, has become so worrisome. A people generally reputed for businesses (trading activities), have suddenly found their fortunes dwindling as a result of terror attacks on their persons and their businesses. Volume of trade is ultimately lowered. The nature of terrorism that takes place in this part of the country is kidnapping. It is not an overstatement that lives and businesses have been lost to kidnapping incidences in the recent past in South Eastern states of Nigeria. These states comprise Ebonyi, Enugu, Imo, Abia and Anambra. This study was therefore an attempt to ascertain how terrorism affects business development in South East Nigeria. Major area of focus of this study was to determine extent of relationship that exists between kidnapping and volume of trade in South East Nigeria. Extensively, literature was reviewed on the subject matter. The expo facto design research method was adopted. Correlation coefficient and regression analyses were employed to determine the type of relationship that exists between the two major variables: kidnapping and volume of trade. It was found out that there is no significant positive relationship between kidnapping and volume of trade in South East Nigeria. Whenever kidnapping incidences increase, the volume of trade decreases. The study revealed that there has been mass exodus of big time business persons from the zone to other parts of the country as a result of insecurity created by kidnapping incidences. As well, business partners from other parts of the world now dread this zone. It was recommended that better security measures should be put in place in this part of Nigeria, there should be synergistic security arrangement among the South Eastern States and the police should be well motivated to carry out their duty properly among others. These will help to tame the menace that has reduced the fortune of this region.