The Nigerian Economic Summit Group (NESG) has issued a stark warning that escalating insecurity in the country poses a significant threat to investment, agricultural productivity, and overall economic growth. In a statement released ahead of the 32nd Nigerian Economic Summit, the NESG called for immediate and coordinated efforts to restore confidence in Nigeria’s economy.

Persistent attacks on farming communities, oil installations, and critical infrastructure, including electricity and telecommunications facilities, have been cited as major factors undermining productivity. These security challenges are not only raising business costs but also discouraging long-term investments. Ayanyinka Ayanlowo, the Head of Strategic Communication and Advocacy at NESG, emphasized that without improvements in national security, economic development will continue to be a daunting task.

The NESG's statement highlighted that insecurity is increasing Nigeria’s investment risk profile, leading to higher financing costs and a shift towards short-term investments rather than more productive ventures. The group noted that restoring security could significantly reduce economic losses and signal to both domestic and foreign investors that Nigeria remains a viable destination for long-term capital.

Key security challenges identified by the NESG include disruptions in agriculture, rampant crude oil theft, and infrastructure vandalism. Banditry, terrorism, and conflicts between farmers and herders have displaced millions of agricultural households, particularly in the North-West, North-Central, and North-East regions, exacerbating food insecurity across the nation. The NESG pointed to alarming warnings from the World Food Programme and the Food and Agriculture Organisation regarding Nigeria's severe food crisis.

The upcoming summit will address various strategies, including community-based security arrangements and the strategic deployment of law enforcement along agricultural corridors. The NESG also proposes the implementation of technology-driven early warning systems to revive farming activities.

In terms of oil production, the NESG expressed concerns over ongoing crude oil theft, which has significantly deprived Nigeria of export earnings and foreign exchange. The group reported that losses have reached hundreds of thousands of barrels daily at certain times due to insecurity surrounding oil installations. This situation has not only hindered production growth but also discouraged investment and increased costs related to infrastructure repairs.

To tackle these issues, the NESG has recommended stronger monitoring technologies, improved transparency in upstream petroleum operations, and tougher enforcement against oil theft networks. They also raised alarms about repeated attacks on electricity transmission and telecommunications facilities, which disrupt essential services and commercial activities.

The NESG advocates for a comprehensive infrastructure protection framework that incorporates physical security measures, community engagement, rapid repairs, and stronger legal deterrents against vandalism.

Beyond military interventions, the group stresses the importance of economic and social strategies to combat poverty, unemployment, inequality, and exclusion, which are seen as root causes of insecurity. The NESG concludes that security and development are interlinked, stating, "A Nigeria that invests in both will be more stable, more productive, and more prosperous."

The 32nd Nigerian Economic Summit, themed "Growth that Works: Delivering Jobs, Productivity and Shared Prosperity," is scheduled to take place on October 26 and 27, 2026, at the Transcorp Hilton Hotel in Abuja. The summit will feature the Secure Nigeria dialogue, bringing together policymakers, security experts, business leaders, community representatives, and development partners to devise strategies for enhancing security around productive activities and critical infrastructure.