Nigeria’s spending on arms and ammunition surged to ₦520 billion in 2024, marking the highest expenditure on weapons in four years, according to the latest report from the National Bureau of Statistics (NBS).
The Q4 2024 trade data, cited by The Punch, reveals that ₦483.85 billion—nearly the entire year’s spending—was recorded between October and December.
This significant increase in arms imports contrasts with recent claims by Minister of State for Defence, Bello Matawalle, that Nigeria had begun exporting weapons to other African nations. However, the NBS report did not provide details on any export destinations.
Comparing Arms Imports Over the Years
The latest figures highlight a sharp rise in defense-related imports compared to previous years:
2023 – ₦127.16 billion
2022 – ₦28.24 billion
2021 – ₦72.50 billion
2020 – ₦29.24 billion
Between 2020 and 2024, Nigeria’s total arms imports amounted to ₦777.1 billion, with 2024 alone accounting for two-thirds of that figure.
Sources of Data
The NBS compiled its report using data from key government agencies, including the:
Nigeria Customs Service
Nigerian National Petroleum Corporation Limited (NNPCL)
Central Bank of Nigeria (CBN)
Other relevant institutions
This increase in military spending raises questions about Nigeria’s security priorities, particularly amid efforts to bolster domestic arms production and exports.
