The Economic Effects of Fulani Herdsmen and Farmers Crisis in Nigeria

The study examined the economic effects of Fulani herdsmen and farmer conflicts in Nigeria using secondary data that covered nine state in Nigeria Adamawa, Benue, Delta, Edo, Enugu, Kogi, Oyo, Plataeu, and Taraba state.Efforts was made to examine the economic effects of Fulani herdsmen and farmers crisis on the Nigerian economy.The data comprises instances of 968 deaths that occurred between 2012 till date in the selected states.To establish the economic cost of the crisis, the expected income of the 968 persons who were killed during the crisis were calculated based on the assumptions that they died at age 30.Also, the expected human life insurance premium payable to insurance companies were calculated.The findings show that the country losses huge sum of money from the herdsmen and farmers crisis.This has a negative impact on the economy as the whooping sum of N464, 640,000.00 is estimated to have been lost from the national savings in the short run during the period under review.This means that in the next 30 years (based on the assumed age of 30) the national economy would have lost about N4, 797,192,155.36.From the findings above it is clear that the herders-farmers crisis have enormous negative impact on the national economy.Based on the findings, the study recommended that government should take drastic steps to address the conflicts in order to reduce the economic consequences of the crisis on the economy.