Introduction Security challenges can be a threat to both economic development and peaceful coexistence. Sustaining a viable economy via development and growth can therefore be said to be a core objective of most countries of the world.A threat to peaceful environment can result from environmental and atmospheric pollution, oil spillage, destruction of Ozone layers, global warming and climate change. (Ironkwe & Success 2017). And if left unattended to might affect the economic performance of a country. Bove and Eila (2017) stated that economics and security are greatly intertwined. According to Corfee-Morlot, Parks, Ogunleye and Ayeni (2018) development today is often associated with GDP, but that idea is relatively modern. GDP as a measure of development was sensible, but it had limitations as a measure of human welfare. Institute for Economics and Peace (2018) noted that Sub-Saharan Africa countries have the lowest energy access rates in the world. Electricity reaches only about half of its people (IEA, 2018). Economic growth in the region is also relatively low at an estimated 2.8% percent in 2018, compared to 7.1% in South Asia (International Monetary Fund, 2018). This lack of energy access which is one sources of conflict between citizens and government of some of the sub-Saharan African countries has suppressed economic growth and sustainable development (World Bank, 2017). According to Mueller and Tobias (2016) the setbacks in economic performance in terms of economic growth that many developing countries have experienced in recent times can be majorly attributed to violent conflict. Sandlers and Enders (2010) opined that conflicts, violence, terrorism, insecurity can raise the costs of doing business in terms of higher insurance premiums, expensive security precautions, and larger salaries to at-risk employees. Moreover, the recessions experienced during periods of violent conflicts are major factor for much lower average growth rates over time in fragile countries such as the Sub-Saharan African countries. (Mueller & Tobias, 2016). Natufe, (2001) noted various environmental neglect and misunderstandings between the resultant companies and the host communities have led to several violent confrontations, severe ecological damage, human and food insecurity. All these security issues may cause economic set back in a country given the involvement of the financial resources, human resources, material resources and even the environmental impact. Okoro and Amachi (2016) opined that most nations are now trying to measure the cost of curtailing these domestic crises. Studies such as Gobat and Kostial (2016); Balami,
Introduction Governments all over the world set structures that enable their economy to either grow or be sustained, while also paying attention to the maintenance of peace and order, as well as ensuring the security of lives and property and food. Despite the use of environmental accounting to curtail most of the environmental issues that ranges from environmental degradation to environment restoration in order to avoid unnecessary conflict among stakeholders and also insecurity of lives and property, (Igweonyia, 2016), there is the need to promote a sustainable environment by accounting for peace. Ellawule (2018) opined that measuring a country's economic performance has gone beyond the country's Gross Domestic Product (GDP) or Gross National Product (GNP), which only measures economic growth. The measurement of the level of human development through the use of Gross National Product (GNP) for different countries was first criticized by the pioneer United Nation Report of 1954 in which for standard of living was made. The level of development is reflected by openness to international trade, levels of per capita GDP, and urbanization. According to Dialoke and Edeja (2017), economic development is a concept involving two or more variables; hence, there is no single acceptable definition of it. Economic development is a process where low income national economies are transformed into modern industrial economies. It involves qualitative and quantitative development in a country's economy. Political and social transformations are also included in the concept of economic development in addition to economic changes. World Bank (2018) noted that a holistic development that considers material conditions and quality of life tells a more complex story. Arnold, (2011), stated that Economic development is related to improvement in the quality of life of people through the introduction of better packaged goods and services using recent technology and infrastructural development, reduction of risk and dynamics of innovation and entrepreneurship. The Newly Industrialized Countries have been able to achieve economic prosperity mostly due to their peaceful operational environment. Any one cannot dispute the argument
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