Boko Haram insurgency has caused the death and displacement of thousands of Nigerians. Its means of terror has evolved from the use of crude weapons to bombs, kidnappings and the use of children as suicide bombers. Its reach has expanded beyond Nigeria into neighbouring West African countries and it has pledged allegiance to Al-Qaida and Islamic State. To address this security concern, its cause should first be ascertained. This paper argues that to do this, Boko Haram should be located in northern Nigerian historical context/environment. This paper reviews economic greed and grievance, extreme religious ideology and political opportunity in historic insurgencies in northern Nigeria. It finds that while the interplay of different factors shaped these insurgencies; it was political opportunity that ignited their onsets. Finally, the article submits that as long as these factors remain the same, military quelling of Boko Haram will not prevent a re-emergence of its likes.