Savings Mobilization in Nigeria: Empirical Investigation of Financial Repression (1975 – 1996)

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Savings Mobilization in Nigeria: Empirical Investigation of Financial Repression (1975 – 1996)

Abstract:

The Bassa-Egbura violent inter-ethnic conflict rendered many people homeless, reduced them to internally displaced persons and inflicted other forms of physical and psychological injuries to others. It also resulted in the loss of lives and properties. This study investigated the social and economic adjustment and strategies adopted by victims of this conflict. The conflict perspective was reviewed and adopted as frame of analysis for the better understanding of the social and economic adjustment of victims. A field work was conducted in the three districts of Toto Local Government Area to gain insight into the genesis and extents of the violence conflict. The researcher administered three hundred (300) structured questionnaires to the internally displaced persons who had returned after the conflict. Focus group discussions were held with members of the ethnic groups such as the Bassa, Egbura, Yoruba, Hausa, Gbaygi and Ibo residing in the area. The leaders of these ethnic groups also in-depth interviewed about the hardship their people faced and who they considered were worse hit. It was found that the Bassa were the worst affected group. Their people were killed, their properties destroyed. They constituted the majority of the internally displaced persons. They went on exile to neighboring towns and states for a period of two years facing hardships such as lack of money, friends, relations to associate with and unemployment among others. The crises caused major disruptions to various aspects of life such as economic activities, children’s education, infrastructures and population displacement. On return, the adjustment of the displaced victims included resettling in places other than their former homes and starting life afresh to avoid been attacked by those who had earlier attacked them. Those who returned to their former area of settlement also had to start from the scratch because all their houses and other resources had been destroyed. The study recommends that dialogue should be facilitated among the warring groups. There should be fair political participation at local and state level, for the Bassa and the Egbura ethnic groups. Boundary adjustment and land dispute issues among the Bassa and Egbura should be resolved by the Nasarawa state government to forestall the reoccurring violent conflict, lost of lives and properties in the area.

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