Terrorism and insurgency is globally becoming a house hold word as there is no nation that is completely absolved from its effect. Since its advent in Nigeria, the sectarian insurgency has wrecked immense havoc in the country, especially by “using explosives and firearms with gruesome, total consequences. The alarming level of the terrorists attacks in different parts of the country has had drastic unpalatable consequences on the economy of the nation at large and not just on these various parts. The national Assembly in 2011 passed the Anti-Terrorism Act with the aim to address the threat to national security and combat the increasing crime rate in the country. Despite this, Nigeria is ranked relatively low on the Global peace Index. Due to this, Nigeria is confronted with development challenges. These challenges includes gross poverty, high rate of unemployment, debilitating youth unemployment, low industrial output, unstable and deteriorating exchange rate, high inflation rate, inadequate physical and social infrastructure, very large domestic debt and rising stock of external debt.