Nigeria has recorded its highest spending on arms and ammunition imports in five years, with a staggering ₦520 billion worth of weaponry brought into the country in 2024 alone. This significant surge in arms importation raises questions about the country's defence policies, transparency, and capacity to meet internal security challenges through domestic arms manufacturing.

According to the National Bureau of Statistics (NBS) Q4 2024 Trade Statistics Report, Nigeria imported a total of ₦777.1 billion worth of arms and ammunition between 2020 and 2024. The report reveals that 2024 accounted for a whopping 67% of Nigeria's total arms import bill over the five-year period, with ₦483.85 billion spent in the final quarter alone.

This dramatic increase in arms importation contradicts recent assertions by the Minister of State for Defence, Bello Matawalle, who claimed that Nigeria was becoming a net exporter of arms. During the 60th anniversary of the Defence Industries Corporation of Nigeria (DICON) in August 2024, Minister Matawalle stated that Nigeria was producing and exporting military equipment to several African nations, which would strengthen the economy through foreign exchange earnings, create jobs, and reduce capital flight.

However, the NBS data tells a different story. The only recorded export of arms and ammunition occurred in 2021, totalling just ₦192.64 million. The report did not specify the recipient countries. This raises questions about the accuracy of the Minister's claim and the country's defence strategy.

A year-by-year breakdown of arms importation shows a significant surge in 2024, contrasting sharply with earlier years. In 2022, Nigeria spent just ₦28.24 billion on arms, which more than quadrupled to ₦127.16 billion in 2023 and surged even further to ₦520.96 billion in 2024.

The NBS compiled its report using data from multiple credible institutions, including the Nigeria Customs Service, the Nigerian National Petroleum Corporation Limited, the Central Bank of Nigeria, oil sector stakeholders, the Federal Airports Authority of Nigeria, and the Nigerian Ports Authority.

The sharp rise in arms importation at a time when the government claims to be boosting local military production raises significant questions about Nigeria's defence policies, transparency, and its capacity to meet internal security challenges through domestic arms manufacturing. As the country continues to grapple with internal security challenges, it remains to be seen how this surge in arms importation will impact the country's defence strategy and overall security landscape.