In 2024, Nigeria surpassed ₦520 billion in arms imports, the highest spending in five years, representing two-thirds of the total five-year import bill. This surge contradicts the Minister of State for Defence’s claims of becoming an arms exporter, given that exports were minimal in 2021. The substantial increase in military expenditure raises concerns regarding Nigeria’s defense strategies and domestic arms production capabilities.
In 2024, Nigeria witnessed its highest expenditure on arms imports in five years, surpassing ₦520 billion. Notably, this staggering figure constituted approximately two-thirds of the total arms import bill across the preceding five years, reflecting a pronounced upward trend in military spending. This recent surge draws into question a prior assertion by officials about Nigeria transitioning into an arms exporting nation, as corroborated by National Bureau of Statistics (NBS) data indicating minimal exports.
The revelations emerged from the Q4 2024 Trade Statistics Report published by the NBS on March 7, 2025. Over the last five years, Nigeria’s cumulative arms imports totaled ₦777.1 billion, with a dramatic 67% attributed solely to the year 2024. An overwhelming ₦483.85 billion was expended in the final quarter of 2024, prompting scrutiny of the country’s defence strategy and spending practices.
Contradictory to this import surge, the Minister of State for Defence, Bello Matawalle, claimed during a corporate milestone event that Nigeria was on the verge of becoming an arms exporting country, citing production capabilities for several African nations. Nevertheless, this claim is notably undermined by NBS data, which confirms that only minimal arms exports, amounting to ₦192.64 million, occurred in 2021, with no mentioned recipient nations.
The year-by-year breakdown of arms importation illustrates this significant increase: from ₦29.24 billion in 2020, to ₦72.50 billion in 2021, ₦28.24 billion in 2022, and ₦127.16 billion in 2023, culminating in ₦520.96 billion in 2024. This stark rise raises alarms, particularly as the spending of ₦520.96 billion in 2024 starkly contrasts with the mere ₦28.24 billion invested in military arms in 2022.
Compiled from data obtained from reputable sources such as the Nigeria Customs Service and the Central Bank of Nigeria, the NBS report signals considerable concerns regarding Nigeria’s defence policy and capability in addressing domestic security challenges through local arms production. The rise in imports amid claims of increased local manufacturing indicates potential inconsistencies within the government’s defense strategy.
In summary, Nigeria’s arms import expenditure in 2024 reached an unprecedented level, accounting for the majority of the country’s total imports over a five-year span. This development stands in stark contrast to government claims of transitioning towards arms exports, which are substantiated by minimal export activity. The NBS report raises critical questions regarding Nigeria’s defense strategies and the effectiveness of its military production capabilities, prompting a reevaluation of national security measures.
Original Source: africa.businessinsider.com
