Name: Tutor: Course: Date due: The Effect of Boko Haram’s Insecurity on Nigeria Economy An Annotated Bibliography Onuoha, Freedom C. “The Audacity of the Boko Haram: Background, Analysis and Emerging Trend.†Security Journal 25.2 (2012): 134–151. Web. In his works, Onuoha portrays that Boko Haram are a bad signal to Foreign Investors and economic experts are predicting increased reduction in the influx of foreign investors in the country in forthcoming years. Trends in the FDI flows in Nigeria indicate that the investments plummeted to $6.1 billion in 2010 from $8.65b realized in the preceding fiscal year 2009. Onuoha obtained his statistics from the Central Bank of Nigeria (CBN), which indicates a 78 percent drop in FDI. The quick drop in Foreign Investment in Nigeria will have a detrimental effect on Nigeria economy as FDI has a direct impact on the trade and local economic growth. FDI supplements local investment increasing the countries productivity. The most worrying fact, however, is the high dependency of the Nigerian oil sector on Foreign Direct Investment and how the GDP will be affected. Loimeier, Roman. “Boko Haram: The Development of a Militant Religious Movement in Nigeria.†Afrika Spectrum 47.2 (2012): 137–155. Print.
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