In 2024, Nigeria spent over ₦520 billion on arms imports, the highest in five years, accounting for two-thirds of total imports from 2020 to 2024. The sharp increase challenges claims made by the Minister of State for Defence about Nigeria becoming a net arms exporter. The National Bureau of Statistics data reveals serious contradictions, questioning the effectiveness of Nigeria’s defense strategy and local manufacturing capabilities.
In 2024, Nigeria has recorded its highest spending on arms and ammunition imports in five years, totaling over ₦520 billion. This significant expenditure accounts for two-thirds of the arms imports over the five-year period from 2020 to 2024. Such a dramatic increase raises concerns regarding the contradictions between government claims of military self-sufficiency and the reality depicted in the National Bureau of Statistics (NBS) data.
The Q4 2024 Trade Statistics Report from the NBS, released on March 7, 2025, reveals that Nigeria imported ₦777.1 billion worth of arms and ammunition between 2020 and 2024. Notably, 2024 accounted for an astonishing 67% of this total, with ₦483.85 billion spent in the last quarter alone, highlighting an urgent trend toward heightened military spending.
This substantial expenditure starkly contrasts with statements made by Minister of State for Defence, Bello Matawalle, who claimed in August 2024 that Nigeria is moving towards being a net exporter of arms. He asserted that the country was producing and exporting military equipment, which he argues would bolster the economy, create jobs, and minimize capital flight.
However, the NBS data raises doubts over these assertions, as it shows that the only export recorded was a mere ₦192.64 million worth of arms in 2021, with no specifications provided regarding the recipient nations. A year-by-year breakdown reveals the following values: 2020 spent ₦29.24 billion, 2021 ₦72.50 billion, 2022 ₦28.24 billion, 2023 ₦127.16 billion, and the staggering 2024 totaling ₦520.96 billion. The increase from 2022 to 2024 is particularly noteworthy, with spending more than quadrupling in just two years.
The NBS compiled its report with data from multiple authoritative sources, including the Nigeria Customs Service and the Central Bank of Nigeria, among others. This detailed insight into arms importation raises pressing questions about Nigeria’s defense strategy and its transparency regarding military spending. It underscores concerns about the nation’s capacity to address internal security challenges through local arms production rather than reliance on imports.
In conclusion, Nigeria’s arms import expenditure in 2024 has reached unprecedented levels, raising critical questions about the nation’s defense policies and manufacturing capabilities. The disparity between government claims of becoming a net exporter of arms and the stark reality revealed by the NBS data highlights a need for transparency and strategic reassessment in addressing internal security challenges effectively. As the spending continues to rise, the implications for national security and economic stability warrant thorough examination.
Original Source: africa.businessinsider.com
