Government spent ₦231bn between 2020-2023 on purchasing weapons.
Over the years, the Nigerian government has spent multi billions of Naira on strengthening its armed forces. Between January and July of 2024, about ₦63.6 billion were spent on military hardware and ammunition for the Armed Forces and the Office of the National Security Adviser (ONSA). Bello Matawalle, the Minister of State for Defence, emphasized that the Nigerian military needs 200 million rounds of ammunition every year at a minimum cost of $2. He berated successive governments for not achieving defence production self-sufficiency. This significant expense demonstrated the country’s commitment to enhancing its military capacity while safeguarding its national security.
As the Ministry of Defence, Defence Industries Corporation of Nigeria (DICON), and the National Agency for Science and Engineering signed a memorandum of understanding, Matawalle confidently expressed optimism that the country would commence exporting military gears in the next four-year period. He also stressed how much money Nigeria might save if it could cut its reliance on importing about 60 to 70 percent of its military supplies and ammunition. The Nigerian government spent ₦231.27 billion between 2020 and 2023 on purchasing weapons and ammunition for its Security services. During the same time, ₦115 billion was spent on importing these goods.
₦33.22 billion were spent on vital operating equipment.
The Ministry of Defence was allotted ₦47.02 billion in 2023, in addition to a supplementary ₦184.25 billion for the purchase of weapons. The government paid a large sum for military supplies on multiple occasions in 2024. These encompassed ₦3.28 billion for bulletproof guard booths with surveillance capabilities, approximately ₦942 million for tactical armoured vehicles and ammunition, and over ₦990 million for ammunition to Equipment and Protective Applications International Limited. Others include ₦33.22 billion for vital operating equipment, ₦3.18 billion for operational support, and ₦22 billion to ONSA for purchase of vital equipment.
Professor Sigismund Akinbulumo at Adekunle Ajasin University, recognised that the depreciation of the naira has resulted in a high cost of military spending. However, he stressed that in order to properly handle the increased number of terror attacks, murders, and kidnappings, Nigeria’s police and military must redesign the nation’s security framework. Nigeria has made large investments in military gear and ammunition, which is indicative of the necessity for the nation to deal with a number of security issues, such as terrorism, banditry, internal discontent, and insurgencies. The nation has consistently had one of the largest defence budgets in Africa.
Considerable amounts were spent on ammunition.
Among the recent acquisitions are fighter jets, armoured vehicles, drones, navy vessels and helicopters. The most noteworthy purchases were the $500 million A-29 Super Tucano aircraft from the United States and the offshore patrol boats purchased by the Nigerian Navy. To further equip its armed forces, Nigeria also spends considerable amounts of funds on small guns and ammunition. The necessity to safeguard more unstable areas and the continuous battle against rebel groups like Boko Haram and ISWAP in the Northeast are what prompted these expenses.
To modernize its fleet and bolster its air force, the federal government procured 24 M-346 fighter aircraft from Leonardo in Italy. The nation is expected to receive the first six of the 24 fighter aircraft by the end of the year. About 1 percent of Nigeria’s GDP goes towards funding the armed forces; this amount varies based on the nation’s security requirements and economic circumstances. Nigeria became the largest defence spender in sub-Saharan Africa and the third largest on the continent in 2023 when its military spending increased by 20% to $3.2 billion.
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Despite these substantial investments, the country still faces tremendous security concerns, with persistent uprisings in the Northeast, Banditry in the Northwest, and separatist agitations in the Southeast. The efficiency of military spending is frequently questioned due to worries about how results are impacted by mismanagement, corruption, and a lack of transparency. The country has made investments in local weaponry production in an effort to lessen its reliance on imported weapons. Even with its improved production capability, the Defence Industries Corporation of Nigeria (DICON) is still unable to supply the Armed Forces with ammunition that they require.