In 2024, Nigeria reportedly imported arms and ammunition valued at over N520 billion, according to the Q4 2024 trade statistics report released by the National Bureau of Statistics. The report revealed that the country had spent a total of N777.1 billion on arms and ammunition imports between 2020 and 2024. The data for the report was obtained from various sources, including the Nigeria Customs Service, Nigerian National Petroleum Corporation Limited, and different companies in the oil sectors.
The breakdown of the figures indicated that the highest amount was spent on arms imports in 2024 compared to the previous years within the four-year period. Specifically, N483.85 billion was spent on arms imports between October and December 2024 alone out of the N520 billion spent for the whole year.
Despite claims by the Minister of State for Defence about Nigeria beginning to export weapons to other African countries, the report showed that Nigeria only exported arms and ammunition in 2021, with a total export value of N192.64 million. However, the destination country or countries were not disclosed in the report.
Looking at the annual spending on arms and ammunition, Nigeria spent N127.16 billion in 2023, N28.24 billion in 2022, N72.50 billion in 2021, and N29.24 billion in 2020. The Minister of State for Defence expressed optimism about Nigeria’s potential to produce armaments locally and attract investors, emphasizing the importance of enhancing the country’s capacity and capability in the defense industry.