Arms import spending drops by 90% –Report
Nigeria's arms import bill has been fluctuating, with N127.16 billion spent in 2023, N28.24 billion in 2022, N72.50 billion in 2021, and N29.24 billion in 2020. Despite the decline, security experts are skeptical, citing persistent security challenges and the sophistication of weapons used by criminal groups. Chidi Omeje, a security expert, suggests that the decline might be due to procurement timelines, noting that defence acquisitions are often based on long-term contractsOn a positive note, the Defence Industries Corporation of Nigeria (DICON) has made significant strides in local production. They've unveiled the DG-103 rifles, an upgraded version of the AK-103, and aim to produce 60 million rounds of ammunition annually. DICON-D7G, a joint venture between DICON and D7G, plans to acquire a military jetty in Lagos to boost local production and export defence equipment across Africa ³ ⁴.
This push for local production is part of Nigeria's strategy to reduce foreign reliance and improve national security. As DICON-D7G's CEO, Osman Chennar, puts it, "By investing in local production, we are not only addressing the country's immediate defence needs but also laying the foundation for long-term security readiness".
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