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...
MTN Group has no official presence in the Democratic Republic of Congo, where the mobile market is d...
South Africa led with 35% of total deal value, ahead of Kenya and Egypt Inbound deal value ro...
Safran invests €280m to build one of the world's largest landing gear plants in Morocco, crea...
This week in Africa, Africa CDC is stepping up its drive for health sovereignty, building new partne...
National humanitarian plan targets 4.47 million vulnerable people in 2026. Program is valued at CFA770 billion (about $1.3 billion). U.N....
Kenya launches a national digital registry to centralize carbon credits. Platform aims to prevent double counting and improve transparency. Reform...
Kinross expects 505,000 ounces of gold production at Tasiast in 2026. Output remains below 2024 levels due to lower-grade ore phase. Tasiast accounts...
South Africa exported a record 414,268 vehicles in 2025, up 5.9% year on year, according to National Association of Automobile Manufacturers of South...
Senegal, Morocco resume talks on film co-production pact Countries seek revised agreement on training, distribution Partnership produced two...
“Dao” ranks among the three films in official competition at the 76th Berlinale and marks Alain Gomis’ second bid for the Golden Bear. The film...