Nigeria’s economy is increasingly defined by the twin pressures of growth and insecurity.
Defence and security remain central to national priorities, commanding one of the largest budget allocations in recent years.
In 2024, the Federal Government earmarked N3.85 trillion ($5.13 billion) for defence, nearly 13.4% of total spending and almost 38% higher than 2023.
And by 2025, it budgeted N4.91 trillion for defence and security. Yet despite the rising allocations, the country remains heavily reliant on foreign arms.
Official data shows Nigeria imported N26.95 billion worth of weapons in the first half of 2025 alone, more than double the N11.76 billion recorded in the same period of 2024.
Between 2022 and 2023, imports surged by over 400%, showing the gaps in local defence capacity.
Those gaps have created space for a growing class of Nigerian defence contractors.
Local firms are beginning to position themselves across the defence and security value chain, supplying products and services that range from protective equipment and training systems to surveillance technology and cybersecurity solutions.
As insecurity continues to shape political debate and economic outcomes, these contractors are emerging as increasingly consequential players seeking to reduce Nigeria’s reliance on foreign suppliers while competing for a share of one of the government’s most strategic spending priorities.
In their early 20s, Nathan Nwachukwu and Maxwell Maduka have built reputations as some of Nigeria’s most promising young innovators in defence technology.
- Nwachukwu, co-founder and CEO, began his entrepreneurial journey at 15. He dropped out of a software engineering degree program at Carleton University, Canada, during the pandemic to focus on building companies. One of his ventures has already attracted $1 million in VC funding.
- Maduka’s path is equally striking. He served as a lead drone engineer with the Nigerian Navy before founding Spatial Nova, a micro-drone company acquired by Nord Motors in 2022. His technical expertise in autonomous systems is now central to TerraHaptix’s mission.
Earlier, both founders raised $11.75 million in funding. The funding round was led by U.S. venture capital firm 8VC, founded by Palantir co-founder Joe Lonsdale, with participation from Valor Equity Partners, Lux Capital, SV Angel, Leblon Capital, Silent Ventures, Nova Global, and angel investor Micky Malka.
Founded in Lagos, TerraHaptix specializes in AI-powered autonomous security systems. The company recently outbid an Israeli competitor to win a $1.2 million contract with Nethawk Solutions, deploying drones and solar-powered sentry towers to secure hydroelectric power plants in Nigeria.
Operating from a 15,000-square-foot facility in Abuja, TerraHaptix already serves clients in Ghana, Kenya, Côte d’Ivoire, and South Africa, with 75% of sales outside Nigeria.
