• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Official: Nigeria spends N1.2 billion only on imports of Arms and Ammunition

Nairametrics by Nairametrics
December 11, 2018
in Business News, Macros, Spotlight
Nigerian Military

Nigerian Military

Share on FacebookShare on TwitterShare on Linkedin

Nigeria’s military spending rose by a whopping 2,138% for the third quarter of 2018, one of the highest seen in recent years.

This was contained in the 2018 third-quarter foreign trade report released by the National Bureau of Statistics. According to the Bureau, Nigeria’s total imports for the quarter was N4,172.3 in Q3,2018 representing a 73.8 % increase from Q2,2018 due to the importation of submersible drilling platforms in August.

A close look at the report, however, shows that imports from Arms and ammunition, parts thereof rose a whopping 21x when compared to the previous quarter in 2017. However, this amounted to just N1.212 billion for the quarter and about N1.264 billion for the year. Imports of arms and ammunition were about N786 million, N142 million and N233 million in 2015, 2016 and 2017 respectively.

RelatedStories

FG pledges to fast-track restoration of infrastructure destroyed by Boko Haram in North-east

FG pledges to fast-track restoration of infrastructure destroyed by Boko Haram in North-east

February 18, 2025
Nigerian military kills 34 terrorists, recovers weapons in new Borno attack 

Nigerian military kills 34 terrorists, recovers weapons in new Borno attack 

January 9, 2025

For a country in the thick of a gruesome war with terrorist, this is a paltry military spending and probably nowhere close to what is required to fight the war.

The bottom line

  • Nigeria has been fighting a stubborn Boko Haram insurgency for years and recently incurred huge casualties from the hands of Boko Haram fighters.
  • Critics of the government war on Boko Haram have blamed lack of arms and ammunition as one of the reasons why Nigeria’s military has suffered several casualties.
  • Just recently, the spokesman of the army, Brig. Gen Sanni Usman confirmed that the army was yet to receive the $1 billion promised as military spending.
  • His remark “People should understand also that this is a democratic system in which the procurement, and of course, the funding of defense-related issues take such a long time. Take for instance the issue of the $1bn approved recently by Mr. President, up till now the process is ongoing. “The Ministry of Defence is still pursuing the matter to the point that when it is done, the armed forces will definitely get more equipment, more arms, and ammunition.”
  • Military spending is critical to Nigeria’s war on insurgency and against militancy and other threats to National security. It also is very important to instilling confidence in the Nigerian economy as relative peace attracts foreign investments and increases GDP.
  • It is also likely that the entirety of military spending may not have been completely captured in the Bureau of Statistics report.
Tags: AmmunitionArmsboko haramMilitary SpendingOn the MoneyResearch Data
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

FG pledges to fast-track restoration of infrastructure destroyed by Boko Haram in North-east
Real Estate and Construction

FG pledges to fast-track restoration of infrastructure destroyed by Boko Haram in North-east

February 18, 2025
Nigerian military kills 34 terrorists, recovers weapons in new Borno attack 
Business News

Nigerian military kills 34 terrorists, recovers weapons in new Borno attack 

January 9, 2025
President Bola Tinubu, AU
Business News

President Tinubu insists no ransom will be paid for kidnapped pupils release  

March 13, 2024
President Bola Tinubu, AU
Business

President Tinubu insists no ransom will be paid for kidnapped pupils release  

March 13, 2024
Benue Governorship election: INEC declares Catholic priest and APC candidate as winner
Politics

CDD West Africa Report: 6 factors that may impact Nigeria’s March 18 state elections

March 18, 2023
Valentine's day business ideas
Financial Literacy

Businesses that will profit from today’s Valentine’s Day celebrations

February 14, 2023
Next Post
The CBN Building, Abuja - capital inflows

CBN ends forex for fertilizer importation, raises concern over banks sharp practice

Comments 1

  1. Anonymous says:
    December 11, 2018 at 6:10 am

    Nigeria, or Nigerians?

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Heirs Insurance Group achieves 70% revenue spike in FY2024; hits N61 billion GWP 
  • AI holds key to exposing frequent budget padding, enhancing fiscal efficiency in Nigeria – Dr. Nasir Aminu 
  • RIP Muhammadu Buhari: Nigeria never had it this bad 

Follow us on social media:

Recent News

Heirs Insurance Group achieves 70% revenue spike in FY2024; hits N61 billion GWP 

Heirs Insurance Group achieves 70% revenue spike in FY2024; hits N61 billion GWP 

July 14, 2025
AI holds key to exposing frequent budget padding, enhancing fiscal efficiency in Nigeria – Dr. Nasir Aminu 

AI holds key to exposing frequent budget padding, enhancing fiscal efficiency in Nigeria – Dr. Nasir Aminu 

July 14, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics