Nigeria’s arms imports exceeded ₦520 billion in 2024, the highest in five years, accounting for two-thirds of the five-year total of ₦777.1 billion. The increase contradicts claims by Defence Minister Bello Matawalle of transitioning to arms exports, as only ₦192.64 million was recorded in 2021. The surge raises questions about Nigeria’s defense policies and capacity for localized military production.
In a significant shift, Nigeria’s arms import expenditures reached over ₦520 billion in 2024, marking the highest level recorded in five years. This tremendous figure constitutes two-thirds of the overall arms import bill for the five-year period between 2020 and 2024. The data raises questions regarding the government’s claims of transitioning to a net arms exporting status, especially as the National Bureau of Statistics (NBS) reported only a minimal arms export in 2021.
The Q4 2024 Trade Statistics Report from the NBS, published on March 7, 2025, outlines that during the five-year span from 2020 to 2024, Nigeria accumulated a total arms import value of ₦777.1 billion. Specifically, the year 2024 represented a dramatic 67% of this total, with a staggering ₦483.85 billion spent in the final quarter alone. This surge starkly contradicts assertions made by Minister of State for Defence, Bello Matawalle, regarding Nigeria’s supposed position as an arms exporter.
Minister Matawalle had previously remarked during the 60th anniversary of the Defence Industries Corporation of Nigeria (DICON) in August 2024, emphasizing that, “Nigeria is now producing and exporting military equipment to several African nations. This advancement will strengthen our economy through foreign exchange earnings, create jobs, and reduce capital flight.” However, NBS reports indicate that the only arms export recorded was a mere ₦192.64 million in 2021, without further details about recipient nations.
A breakdown of the arms import values over the past five years illustrates a concerning trend. In 2020, the imports stood at ₦29.24 billion, rising to ₦72.50 billion in 2021, followed by ₦28.24 billion in 2022, and ₦127.16 billion in 2023 before the sharp climb to ₦520.96 billion in 2024. This trajectory reflects a marked increase in spending, especially from 2022 to 2023 when expenditures more than quadrupled.
The NBS compiled its findings using data from several authoritative institutions including the Nigeria Customs Service, the Nigerian National Petroleum Corporation Limited, the Central Bank of Nigeria, and various stakeholders from the oil and transportation sectors. This meticulous research prompts critical questions regarding Nigeria’s current defense strategy, in light of the government’s declarations about enhancing local military production and addressing internal security challenges through domestic manufacturing.
In conclusion, Nigeria’s unprecedented arms import spending in 2024 reflects significant challenges and contradictions within its defense strategy. As the spending continues to surge dramatically, questions arise regarding government claims of enhanced local production and the aspirations towards becoming an arms exporter. The reliance on imports, especially when juxtaposed with minimal exports, calls for a reevaluation of Nigeria’s approach to security and defense policies, ensuring transparency and effectiveness in the quest to address internal security issues.
Original Source: africa.businessinsider.com
