Faced with a tough security situation, Nigeria increased its military spending in recent years, to improve its military power. Early this month, the country received approval for its about US$1 billion weapons and military equipment purchasing plan.
Nigeria's military spending rose 56% year-on-year in 2021, according to the 2021 global military spending published by the Stockholm International Peace Research Institute (SIPRI).
According to the institute, in 2021, Nigeria spent US$4.5 billion to strengthen its military in response to its “various security challenges, such as attacks by Islamist extremists and separatist insurgents.”
Indeed, over the past few years, the country’s security environment has worsened significantly due to attacks by Islamist sects Boko Haram and Islamic State in West Africa Province (ISWAP). The security challenges are further worsened by armed groups (bandits) who carry out mass kidnappings and reinforce their influence with the ransoms collected or by collaborating with terrorist groups.
President Muhammadu Buhari who promised to restore security in the country is not yet much successful in doing so. Nevertheless, the country is spending heavily on military equipment. Recently, the US approved its proposed acquisition of US$1 billion worth of weapons and military equipment.
In sub-Saharan Africa, Nigeria has been the country that spent the most to improve its military power in 2021. In the whole of Africa on the other hand, it was Algeria with its US$9.1 billion spent for military purchases. Overall, Africa spent US$39.7 billion for that purpose during the period.
Moutiou Adjibi Nourou
Absa Kenya hires M-PESA’s Sitoyo Lopokoiyit, signalling a shift from branch banking to a telecom-s...
Ziidi Trader enables NSE share trading via M-Pesa M-Pesa revenue rose 15.2% to 161.1 billio...
MTN Group has no official presence in the Democratic Republic of Congo, where the mobile market is d...
Deposits grow 2.7%, supporting lending recovery Average loan sizes small, credit risk persists ...
Global South Utilities (GSU) has begun building a 5 MWp hybrid solar plant with 5 MWh battery st...
Egypt moves to increase fish exports to Italy after EU import ban was lifted in 2024. Talks focus on sanitary standards, inspections and export...
Scatec signs private power purchase agreements for a 255 MW solar plant. The Thakadu project marks its entry into South Africa’s wheeling...
MENA holds 46% of global desalination capacity. Water demand could rise 20%–50% by 2050. Desalination costs have fallen below $1 per cubic meter....
Senegal launched phase 3 of the “Sukaabe Jango” program to provide hot meals to 135,424 students in six southern departments. The initiative will...
While Afrobeat has evolved into what is now known as Afrobeats, there is little dispute that the movement was pioneered by Fela Kuti. A musical genius and...
Benin is guest of honor at the 2026 African Book Fair in Paris. More than 400 authors and 150 publishers from 20 countries are expected. The spotlight...