Description

Banditry in Nigeria has been intensifying for almost a decade, however there is no study that focuses specifically on the financial impact or political economy of banditry. Filling this gap, authors Sambo and Sule explore this unique and new aspect and dimension of the banditry in Nigeria, comparing cases in Africa and Asia with the Nigerian experience to provide a view of the political economy implications of banditry at regional and global levels.

The Political Economy of Banditry in Nigeria explores the escalation of new areas of political economy triggered by banditry in Nigeria, where new strategies of bandits have turned crime into a multi-billion Naira business. The chapters investigate acts such as kidnapping for ransom, abduction of school children for ransom, illegal mining, capture and confiscation of farmlands by the bandits, collection of taxes and levies by the bandits from the local populace, as well as the cost of response by policy makers. Delving into an emerging security crisis relating to the political economy of banditry, the chapters explore the impacts causing food insecurity, shortage of livestock, and a huge outflow of government funds. Chronicling these events beyond Nigeria's borders, the analysis shows the financial costs or economic loss incurred by the Nigerian state and looks at what can be done.

Concluding with practical policy implications and potential solutions for combatting economic crisis and poverty, the authors pose strategies relating to institutional strengthening, social inclusion and political will. This is important reading for scholars interested in securing lasting peace and prosperity in Nigeria and the wider international community beyond its borders.