Security challenges driving away Investors, speaker Abbas Warns”

Speaker of the House of Representatives, Abbas Tajudeen, has warned that the escalating security challenges in the country are discouraging potential investors and exacerbating the ongoing humanitarian crisis.

Speaking at a one-day public hearing on the bill for the establishment of the Nigerian Security and Intelligence Trust Fund, Speaker Abbas explained that these security issues are also undermining food security, with farmers abandoning their farms due to insecurity.

He stressed the importance of using the law to effectively tackle these challenges.

The Speaker emphasised that the passage of the bill would enhance Nigeria’s security and intelligence framework, enabling them to fulfil their constitutional duty of safeguarding lives and property—the core responsibility of any government.

“As you are aware, the security of life and property is crucial for nation-building. It is the most powerful tool for attracting investment and ensuring the balanced development of a country,” he said.

“Therefore, the significance of security cannot be overstated, especially in a country like ours that is striving to attract investment and create job opportunities for our youth.”

He acknowledged that security has been a major challenge in Nigeria, citing the devastating effects of banditry, kidnapping, armed robbery, oil theft, insurgency, and other criminal activities. These issues, he said, have led to the displacement of families, scared away investors, and worsened food insecurity.

“We must, therefore, use the instrumentality of the law to tackle these challenges head-on. Despite these difficulties, our security forces continue to work tirelessly within their constitutional powers to maintain safety and security,” he said.

The public hearing, he continued, is an opportunity for citizens to contribute informed opinions that will guide the House of Representatives in establishing the Nigerian Security and Intelligence Trust Fund. The fund, he noted, will enhance the security agencies’ capacity to gather intelligence, provide training, and improve equipment, all aimed at preventing security threats before they escalate.

“This hearing allows the public to participate in the legislative process, helping us identify potential strengths and weaknesses in this new legislation to ensure it serves the best interests of our country,” he added.

Speaker Abbas also reminded the audience of the need to consider the laws governing existing security agencies to avoid duplication of roles and functions that might create new problems in the pursuit of solving old ones.

“I anticipate a robust debate and valuable contributions from the public. I also expect a thorough examination of the proposed law and recommendations to guide the House in its legislative duties,” he said.

He concluded by reiterating that ensuring the country’s security is central to the government’s agenda, which would not only foster a secure environment but also attract investment, create jobs, and promote free movement across Nigeria.

“While I look forward to an enriching debate on the establishment of the Nigerian Security and Intelligence Trust Fund, I assure you that the House will remain committed to promoting the nation’s best interests and supporting President Bola Ahmed Tinubu’s Renewed Hope mandate.”

Rep. Ahmed Satomi, Chairman of the House Committee on National Security and Intelligence, explained that the bill seeks to provide funding for security and intelligence operations outside the usual budgetary provisions.

He highlighted that the fund would primarily be used for the training and retraining of Nigerian security personnel, the provision of state-of-the-art security and intelligence equipment, and the upgrading of facilities to improve the operational readiness of security forces.

“The fund will also ensure that our security training institutions meet global standards and provide resources for research and development,” Satomi said, adding that Nigeria’s intelligence agencies have long been underfunded, with insufficient resources allocated for intelligence gathering.

He further explained that kinetic operations alone could not guarantee sustained peace and security, with their contribution to stability likely not exceeding 30 per cent. He called for a greater focus on intelligence gathering and sharing to mitigate insecurity and its negative impact on Nigeria’s economy.

“This bill is expected to significantly address the funding gap in this critical sector,” he affirmed.

Rep. Satomi also quoted Section 14(2)(b) of the Nigerian Constitution, which mandates that the security and welfare of the people shall be the primary purpose of governance. He stated that the passage of the bill would ensure that funding is no longer a major obstacle to the effectiveness of Nigeria’s security agencies.