Why Terrorism, Banditry Are Rising in Nigeria — Peterside

President of the ANAP Foundation and Founder of Stanbic IBTC Bank, Atedo Peterside, has attributed the rising cases of terrorism and banditry in Nigeria to deep-rooted poverty, poor income distribution, and widespread lack of education.

Speaking on Prime Time, a programme on Arise Television, Peterside said Nigeria’s growing insecurity is closely linked to the country’s widening gap between the rich and the poor, stressing that millions of economically deprived citizens are vulnerable to recruitment by criminal groups.

According to him, Nigeria suffers from a severe income distribution imbalance, where a small segment of the population enjoys immense wealth while a much larger population lives in extreme poverty.

“Sometimes you can have an economy where the big guns are doing very well — their income is rising, the stock market is booming — but I’m referring to the over 140 million poor people. That’s where the problem is,” he said.

Peterside warned that no society can maintain stability when such stark inequality persists.

“We have the very wealthy and the phenomenally poor. You cannot have equilibrium when there are so many poor people around you. I’m not frightened, but I do worry when wealthy people assume everything will be fine forever, while hundreds of millions around them are struggling,” he noted.

While clarifying that poverty alone does not automatically translate to insecurity, Peterside said the failure of the state to provide basic opportunities makes poor and marginalized citizens easy targets for recruitment into banditry and terrorism.

“I don’t want to equate poverty directly with insecurity, but it is obvious that when the state is offering next to nothing, some poor people can be easily recruited. They become potential future bandits and terrorists,” he explained.

He also expressed concern over Nigeria’s education crisis, revealing that about 30 million children are currently out of school, a situation he described as a ticking time bomb.

“People who are not educated are increasingly difficult to integrate into a modern economy. When they cannot secure decent jobs, they become vulnerable to criminal influences. We have a serious problem on our hands,” Peterside said.

He questioned the government’s apparent complacency in the face of these challenges, urging urgent and deliberate action to address poverty, education, and inclusive economic growth as part of a long-term solution to Nigeria’s security crisis.