In 2024, Nigeria’s arms import spending soared to over ₦520 billion, marking the highest level in five years. This amount accounts for two-thirds of the total arms imports from 2020 to 2024. Contradicting claims from the defense minister about arms exports, recent data shows minimal arms export activity, prompting a reevaluation of Nigeria’s defense strategy and domestic production capabilities.
Nigeria has recorded its highest arms import spending, surpassing ₦520 billion in 2024 alone, resulting in serious implications for its defense strategy. Notably, this amount represents two-thirds of the total arms import expenditures over the last five years. This surge raises questions about the country’s military strategy, especially as local production claims by officials clash with the stark reality of dependence on imports.
The National Bureau of Statistics (NBS) released a Q4 2024 Trade Statistics Report on March 7, 2025, revealing that Nigeria imported ₦777.1 billion worth of arms from 2020 to 2024. An astounding 67% of this total was accounted for by 2024’s import figures, with ₦483.85 billion spent in just the fourth quarter, highlighting an urgent need for reassessment of military spending policies.
Concerns arise from Minister of State for Defence, Bello Matawalle’s assertion that Nigeria has transitioned into a net arms exporter. However, the NBS data contradicts this claim, with only a single recorded export in 2021 valued at a mere ₦192.64 million, indicating a significant gap in the defense export capabilities of the nation.
A year-by-year breakdown illustrates the stark rise in arms importation, with expenditures remaining relatively low in the preceding years: ₦29.24 billion in 2020, ₦72.50 billion in 2021, and ₦28.24 billion in 2022, before escalating to ₦127.16 billion in 2023, and then drastically to ₦520.96 billion in 2024. The comprehensive report was compiled using data from various institutions, ensuring its credibility and accuracy.
This sharp uptick in imports against a backdrop of government assertions to increase local production prompts a review of Nigeria’s defense strategy, its transparency in military spending, and the efficacy of domestic arms manufacturing in addressing ongoing internal security issues.
Nigeria’s arms import spending reached an unprecedented ₦520 billion in 2024, raising critical questions about its defense policies amidst claims of becoming a net exporter of military equipment. With previous years showing significantly lower import values, this trend indicates a growing reliance on foreign arms. The contradictions in government statements highlight the challenges Nigeria faces in enhancing domestic production capabilities to address security concerns effectively.
Original Source: africa.businessinsider.com
