Lack of Govt Support Plunging Private Security Agency into Turmoil, Fashina Reveals

The All Progressive Congress APC Chieftain in Ogun State and the CEO of Olageospatial Global Investment Company (OGIC) Mr Fashina Olajide said that the  private security industry is facing significant challenges due to the absence of Federal or State government support, leading to a state of disarray.

Fashina disclosed this on Wednesday during an interview with Oxygist in Abeokuta, Ogun State Capital.

As the sector grapples with various issues, including inadequate regulation and funding, Fashina has shed light on the dire consequences of the government's neglect.

According to him" The private security industry in Nigeria has long been recognized as an essential component of the overall security framework. Private security agencies provide vital services to businesses, residences, and institutions, contributing significantly to the safety and protection of individuals and properties. 

However, the absence of adequate government input has hindered the sector's growth and effectiveness.

Fashina, a respected APC chieftain , expressed deep concern over the current state of the private security agency, stating that the lack of federal or state government involvement has left the private security sector in disarray. 

"Without proper regulation, oversight, and support, these agencies struggle to meet the growing security demands in our society. We should have a right bill that would reshape the private security company.

"One of the primary challenges faced by private security agencies is the absence of a comprehensive regulatory framework that establishes clear guidelines and standards for their operations. The lack of regulation makes it difficult to ensure uniformity in training, equipment, and operational procedures across different agencies. This situation not only compromises the quality of security services but also hampers the agencies' ability to attract clients and maintain credibility.

"In addition to regulatory gaps, the private security sector also suffers from inadequate funding and financial support. Unlike public security agencies, which receive government funding, private security agencies rely on client contracts for their revenue. 

"The lack of financial backing from the government makes it challenging for these agencies to invest in modern equipment, training programs, and personnel welfare, thereby limiting their ability to provide effective security solutions.

Fashina further emphasized, "The government needs to recognize the crucial role played by private security agencies and extend their support in the form of funding, incentives, and regulations. Without a collaborative approach, the private security sector will continue to struggle, compromising the safety and security of our society."

"As the private security industry grapples with these challenges, the repercussions extend beyond the agencies themselves. The lack of government support has a direct impact on the employment prospects and job security of thousands of security personnel employed by these agencies. 

"Without a conducive environment, the sector's growth potential remains untapped, exacerbating the unemployment crisis and compromising public safety."

OGIC boss urged the Federal and state government to  prioritize the private security sector and work towards establishing a comprehensive regulatory framework. By actively supporting and investing in the private security industry, the government can play a crucial role in enhancing security, stimulating economic growth, and creating job opportunities for the country's workforce.

Fashina also stated that the establishment of a private security company has the potential to create numerous employment opportunities, particularly for young individuals seeking gainful employment. The company's operations, encompassing a wide range of sectors including residential, commercial, and industrial, are expected to provide job opportunities across different skill sets, ranging from administrative roles to security officers.

To ensure the effectiveness and professionalism of the security guards, Fashina proposes comprehensive training programs that cover situational awareness, conflict resolution, emergency response, and modern security technologies. In addition, he highlights the importance of proper equipment and full armament for security personnel, enabling them to respond effectively to threats.