Nigeria’s Arms Imports Reach All-Time High Amidst Claims of Local Production
In 2024, Nigeria spent ₦520 billion on arms imports, the highest in five years, accounting for two-thirds of the total arms expenses from 2020 to 2024. This contradicts Minister Matawalle’s claims of becoming a net arms exporter, highlighting significant questions regarding the country’s defense strategy and reliance on foreign imports despite intentions to bolster domestic production.
In 2024, Nigeria experienced a significant increase in arms imports, spending over ₦520 billion, marking the highest levels in five years. This figure represents approximately two-thirds of the total arms import bill totaling ₦777.1 billion from 2020 to 2024. Notably, a large portion, ₦483.85 billion, was accounted for in the final quarter of 2024 alone, demonstrating an alarming increase in military expenditure.
This spike in arms imports contradicts earlier claims made by the Minister of State for Defence, Bello Matawalle, asserting that Nigeria was transitioning to become a net exporter of arms. During a speech at the 60th anniversary of the Defence Industries Corporation of Nigeria (DICON) in August 2024, the minister stated, “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, the reality depicted by the National Bureau of Statistics (NBS) reveals a different narrative.
According to the NBS report, the only recorded export of arms occurred in 2021, amounting to just ₦192.64 million, a sum significantly overshadowed by the rising imports. A year-by-year breakdown shows stark contrasts in expenditure: in 2020, Nigeria spent only ₦29.24 billion, which climbed to ₦127.16 billion in 2023 before skyrocketing to ₦520.96 billion in 2024.
The data utilized in the NBS report is compiled from several authoritative sources, including the Nigeria Customs Service, the Nigerian National Petroleum Corporation Limited, and the Central Bank of Nigeria among others. This increase in imports raises critical questions regarding Nigeria’s defense strategy, indicating potential challenges in meeting internal security demands through domestic military production despite government claims to bolster local manufacturing capabilities.
In conclusion, Nigeria’s arms import expenditure reached an unprecedented level in 2024, exposing inconsistencies between government claims and actual data. The stark increase in imports raises serious concerns about the country’s defense policies and its commitment to enhancing local arms production. With historical data revealing a heavy reliance on foreign arms, it is evident that Nigeria must reassess its strategies to address internal security effectively and enhance transparency in defense procurement.
Original Source: africa.businessinsider.com
