Nigeria imported arms and ammunition worth over N520bn in 2024, marking the highest expenditure on weaponry in the past five years....READ ORIGINAL & FULL CONTENT FROM SOURCE | READ ORIGINAL & FULL CONTENT FROM SOURCE...
The Q4 2024 trade statistics report released by the National Bureau of Statistics (NBS) on March 7, 2025, revealed that the country spent a total of N777.1bn on arms and ammunition imports between 2020 and 2024.
The data was sourced from the Nigeria Customs Service (through the Integrated Customs Information System), the Nigerian National Petroleum Corporation Limited, various oil sector companies, the Central Bank of Nigeria, and agencies such as the Federal Airports Authority of Nigeria and the Nigerian Ports Authority.
A breakdown of the figures shows that Nigeria spent more on arms imports in 2024 than in any other year within the reviewed period. Notably, N483.85bn—nearly the entire 2024 expenditure—was spent in the last quarter of the year alone.
This surge in arms imports contradicts claims by the Minister of State for Defence, Bello Matawalle, that Nigeria had begun exporting military equipment to other African nations.
Speaking at the 60th anniversary of the Defence Industries Corporation of Nigeria (DICON) in August 2024, Matawalle emphasized the country’s growing defence production capabilities.
He further claimed that various African countries were sourcing weapons from Nigeria, which he said could boost foreign exchange earnings, create jobs, and reduce capital flight.
However, the NBS report contradicts these assertions, showing that Nigeria only exported arms and ammunition in 2021, with total export earnings of N192.64m. The report did not specify the destination country or countries.
An annual breakdown of Nigeria’s arms importation expenditure showed that in 2023, the country spent N127.16bn on arms; in 2022, it imported weapons worth N28.24bn; in 2021, the figure stood at N72.50bn; and in 2020, Nigeria spent N29.24bn on military imports.
