The South-West region faces economic paralysis from rising insecurity, and experts are calling for the immediate establishment of a regional Security Trust Fund to tackle the crisis.
Insecurity in Nigeria's commercial heartland has crippled businesses, disrupted trade routes, and forced investors to relocate. Kidnappings, armed robbery, and banditry have become routine along major highways connecting Lagos, Oyo, Ogun, and other states in the zone. The cost is mounting fast.
The proposed Security Trust Fund would operate as a dedicated financial mechanism for the region. States would contribute, alongside the federal government and private sector partners, to fund targeted security operations. Unlike relying on central allocations from Abuja, this approach gives the South-West control over its own security spending and allows for rapid deployment of resources where threats emerge.
Proponents argue the fund would enable faster response times, better intelligence gathering, and coordination between state and local security agencies. It would also reduce the bureaucratic delays that often hamper security operations. The South-West, which generates a significant portion of Nigeria's GDP through commerce, agriculture, and manufacturing, cannot afford to lose its competitive edge to security breakdowns.
Without urgent intervention, businesses will continue fleeing the region. Investors need assurance that their operations are protected. A dedicated security fund sends that signal. It shows regional governments are serious about reclaiming economic stability.
The challenge now is getting buy-in from state governors and the federal government. A formal proposal outlining the fund's structure, contribution levels, and oversight mechanisms must be developed quickly. The South-West economic council should take the lead in drafting this framework within the next 60 days.
