ECONOMY AND SECURITY: THE FUTURE OF NIGERIA
Special Guest of Honour – Sheraton Hotel, Lagos
3 September 2026
Protocol.
Distinguished guests, ladies and gentlemen,
I congratulate the organisers for choosing a subject of profound importance to Nigeria’s future: the economy and security, and the relationship between them.
I will be brief, especially because we are privileged to have with us the Governor of Lagos State, who will deliver the main lecture and take this discussion further.
Let me begin with one central point:
Nigeria cannot have a strong economy without security, and it cannot have lasting security without a strong economy.
The two are inseparable.
Nigeria’s economy has recorded encouraging signs, including growth of 4.43 per cent in the second quarter of 2026, with agriculture and services showing improvement. But the true test of economic progress is not only what appears in GDP figures. It is what Nigerians experience in their daily lives.
Can a young person find decent work? Can a farmer safely reach the farm? Can a manufacturer produce competitively? Can a small business survive the cost of power, transport and finance? Can investors commit their resources with confidence?
These questions bring us directly to security.
SECURITY IS AN ECONOMIC ISSUE
Security is not merely a matter for the military, police and other agencies. It is also an essential part of economic infrastructure.
When farmers are afraid to cultivate their land, food production suffers. When roads are unsafe, the cost of transporting goods rises. When businesses spend excessively on protection, their competitiveness declines. When communities live in fear, investment is discouraged.
The reported abduction of more than 7,800 people between July 2025 and June 2026 is therefore not only a security statistic. It is also an economic warning.
But Nigeria must not be defined only by its challenges. We possess enormous potential: a young population, a dynamic entrepreneurial culture, a growing technology sector, strong financial institutions, a vibrant creative economy and businesses succeeding across Africa.
Our challenge is to create the conditions in which Nigerian ability can flourish at scale. Those conditions include security, infrastructure and opportunity.
FROM OIL WEALTH TO HUMAN WEALTH
Oil remains important, but Nigeria’s future cannot depend on oil alone. The non-oil sector accounted for approximately 95.8 per cent of real GDP in the second quarter of 2026, reflecting the growing importance of agriculture, manufacturing, technology, construction, financial services, tourism, entertainment and the digital economy.
Our task is to convert these sectors into productive jobs, higher incomes and better living standards.
This is especially important for Nigeria’s young people. They need more than speeches. They need skills, employment, access to capital, technology and a society in which enterprise and hard work can lead to a better life.
If we give our young people opportunity, they will build Nigeria. If we deny them opportunity, frustration will grow and social stability will suffer.
A WORD ABOUT LAGOS
Lagos and by extension Ogun state offers an important example of what can happen when population, enterprise, infrastructure and opportunity come together. The states are not without their challenges, but they demonstrates that Nigerians are remarkably productive when given an enabling environment.
The wider national challenge is to extend that opportunity across the country, so that a young entrepreneur in Aba, Kano, Ibadan, Jos, Port Harcourt, or Maiduguri can build with the same confidence as one in Lagos.
CONCLUSION
As I hand over to our distinguished main lecturer, let me leave us with this thought:
The Nigeria we want tomorrow will be determined by the decisions we make today.
If we secure our farms, we strengthen food security. If we secure our roads, we strengthen commerce. If we secure our communities, we attract investment. If we create jobs and invest in our young people, we strengthen social stability and the future of the nation.
I remain optimistic about Nigeria—not because our problems are small, but because our capacity is greater than our problems.
We have the people, the resources, the market and the entrepreneurial spirit. What we need is the security, leadership, infrastructure and discipline to convert potential into prosperity.
I look forward to hearing from His Exc the Executive Governor of Lagos State address this important subject.
Your Excellency sir, the floor is yours.
Thank you.
God bless the Federal Republic of Nigeria.
His Exc The Senator,
Otunba Engr Gbenga Daniel, FNSE FAEng
