AN EVALUATION OF THE IMPACT OF PEACE ACCOUNTING IN THE ECONOMIC DEVELOPMENT OF NIGERIA

ABSTRACT

This research work titled “An Evaluation of the impact of peace accounting in the economic development of  Nigeria with particular reference to the ministry of Niger Delta Affairs” the researcher investigated the impact of the cost of peace-keeping in the economic development of Nigeria. Ascertained how oil-induced militant activities in the region. Identified the influence of the cost of peacekeeping on the fund account of the federal government.  Data for the study was sourced from two main sources which include Primary and Secondary sources of data collection. Primary data: questionnaires and oral interviews were used to collect information from the respondents. Secondary data: journals and other relevant materials relating to the area of my investigation will be review. The research instrument used in this study includes an oral interview and questionnaire. The questionnaire is structural to contain both close and open-ended question. Simple tables and percentages were used in the treatment of data. The researcher found out that That cost of peacekeeping in the Niger-delta region has a significant impact on the economic development of Nigeria. Those oil-induced militant activities in the Niger Delta region. That cost of peacekeeping has an influence on the fund account of the federal government.

CHAPTER ONE

1.0  INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The exploitation and production of oil in the Niger-Delta have created some of the largest fortunes for the multinational companies and have helped to achieve impressive economic growth and development of the Nigeria state, but little or no attention has been directed by both the multinational companies and the Nigeria governments to the effects of such oil activities on the welfare of oil-producing communities (Ikein, 1990). Oil has not as expected brought prosperity, better living conditions and governmental attention and development; rather it has become a curse and impoverishes the inhabitants of the Niger-Delta region. However, a fight for their rights against the multinational companies and the Federal Government has resulted in large-scale violence, crisis, social tension, hostage-taking, manslaughter, kidnapping and other social vices of the region. The aftermath of these vices is the high degree of insecurity in the region, which has led to the withdrawal of major oil-producing companies from the region. The low level of oil production as a result of insecurity of lives and property in the region has a strong negative impact on the Nigerian economy (Ikelegbe, 2008). In their effort to bring the situation under control, the multinational companies, governments and other stakeholders have been clamouring for peace in the Niger-Delta region to boost economic development. However, the term peace is relative and the conditions for peace differ from one society or nation to another. However, Ibeanue (2005) asserted that peace is a process involving activities that are linked to increasing development and reducing conflict. It is described as justice and development, respect and tolerance between people, wholeness and making whole, and the absence of war. Despite its relative nature, peace has a common denominator, i.e. the harmonious or friendly pursuit of individual and collective interest defined by rules of conduct or standard of behaviour. Thus, in this context, peace is described as a condition in which people live in agreement with accepted standards of conduct or rules of behaviour that promote the public good and the happiness of everyone. Moreover, various strategies are being devised by the multinational companies and the government for the enthronement of peace in the Niger-Delta region of Nigeria. Multinational companies are spending so much money to hire security agents to protect their facilities and personnel from militant attacks. The government, on the other hand, is spending a huge amount of money to maintain peace-keeping forces in the region. In 2009, the Federal Government of Nigeria under the administration of President Umaru Musa Yar, Adua, granted amnesty to militants and these former militants are currently on the payroll of the government thereby reducing government current revenue. Akeem and Erhun (2010) posited that the recurrent expenditure of the Federal Government increases on a basis at an average of 12.69 due to security measures taken by governments to ensuring peace in the Niger-Delta region. It is upon this premise that this paper tends to investigate the impact of the cost of peace-keeping in the Niger-Delta region and the economic development of Nigeria

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