Nigeria Spent Over N520bn on Arms Imports in 2024 – NBS Report - Qubes Magazine

Nigeria, Arms Importation, Military Budget, Defence Industries, National Security, NBS Report, 2024 Trade, Government Spending

Nigeria imported arms and ammunition worth over N520 billion in 2024, making it the highest defense spending year in the past four years, according to a report by the National Bureau of Statistics (NBS).

Between 2020 and 2024, Nigeria spent a total of N777.1 billion on arms imports, with N483.85 billion spent in the last quarter of 2024 alone.

The report, compiled from multiple agencies including the Nigeria Customs Service, Central Bank of Nigeria, and the Nigerian Ports Authority, contradicts claims by the Minister of State for Defence, Bello Matawalle, that Nigeria has begun exporting weapons to African countries.

While Matawalle stated that Nigeria’s Defence Industries Corporation (DICON) is producing arms, NBS data reveals that the country only exported N192.64 million worth of arms in 2021.

The increase in arms imports comes amid growing concerns over national security and military preparedness.

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