SECURITY CHALLENGES AND ENTREPRENEURIAL DEVELOPMENT IN PHARMACEUTICAL FIRMS IN OGUN STATE, NIGERIA

Abstract

One can posit that Nigerian, in recent times has witnessed an unprecedented level of insecurity. Inter and intra-communal and ethnic clashes, religious violence, armed robbery, activities of Boko-Haram, Hausa and Fulani herdsmen, assassination, murder, gender-based violence and bomb explosion have been on the increase, leading to enormous loss of life and property and a general atmosphere of siege and social tension for the populace. Most recent is the issues of IPOB (Indigenous People of Biafra) compulsory seat at home in southeast states and uncontrollable killing and kidnapping in the Eastern and Northern part of the country by bandits, unknown gunmen and cultist. Evidently, these security challenges have resulted in a decline of foreign direct investment in Nigeria. Owing to the nature of the study; secondary data were used to arrive at our conclusions and findings. Relevant literature was reviewed on the major concept and empirical studies were reviewed. Despite years of self-governance and independence, insecurity is still Nigeria’s biggest challenge. To a large extent this security challenges negatively affects every sectors of Nigerian economy, most especially pharmaceutical industries which is one of the major focus in this paper.  On the basis of the conclusion, the following recommendations were made: That the panacea for solving insecurity challenge in Nigeria is for government to accelerate the pace of development. Development in this context consists of creating an economy with relevant social, economic and physical infrastructure for business operations and industrial growth, to provide gainful employment, high level of educational facilities, and medical care for the people: Capacity building should be embarked upon by the government in order to ensure the availability of efficient labour in the country and this can be achieved by improving the educational standard in the country as well as investing in research, science and technology: Finally, federal government should provide the enabling environment for people to work especially in the area of security of lives and property. This is against the back-drop that no meaningful economic activity can thrive in the face of insecurity.