The Speaker of the House of Representatives, Tajudeen Abbas, has disclosed that Nigeria allocated over $16 billion to defence and security between 2008 and 2018, representing more than 10 percent of the federal budget within that period.
Abbas made the revelation on Monday during a workshop in Abuja for security-based committees on “Non-Kinetic Strategies and Terrorism in Nigeria”.
He canvassed a growing need to adopt cost-effective and sustainable approaches.
“In 2020, the total budget for security accounted for 16.8 percent of the $27.9 billion budget.
“This year, N3.25 trillion has been allocated to the defence and security sector, representing 12 percent of the 2024 national budget,” Abbas noted.
The Speaker highlighted that despite the huge financial investments, insecurity in Nigeria – including terrorism, banditry, and kidnapping – continues to pose significant challenges.
He stressed the need to prioritize “friendly, non-kinetic measures” over force-driven strategies, which could achieve long-term solutions and reduce economic strain on Nigerians.
He said, “Resources often diverted to combat insecurity could be more prudently invested in critical sectors such as education, healthcare, and infrastructure, which are fundamental to national well-being.”
Abbas also referenced the Central Bank of Nigeria’s (CBN) cashless policy and the “attempted” currency redesign in 2023 as examples of financial strategies that disrupted criminal networks.
According to him, the measures weakened financial channels facilitating crimes like kidnapping and banditry.
“In Nigeria, the brief implementation of the cashless policy and the attempted currency redesign in early 2023 demonstrated the potential of financial measures to combat insecurity,” Abbas said.
“They notably disrupted the financial networks that facilitate crimes. However, these policies also underscored the critical need for proper implementation that accounts for Nigerians’ needs and realities.”
The Speaker advocated stringent anti-money laundering regulations to disrupt terrorist financial networks while ensuring policies are executed with due consideration for the public’s economic realities.
He added that addressing insecurity through cost-effective measures would enable the federal government to focus on essential sectors that promote development and stability.
To strengthen peace efforts, Abbas announced the establishment of a standing committee on peacebuilding and social cohesion within the House of Representatives.
The committee, he said, will play a central role in fostering national peace and stability.
“Nigeria has been grappling with terrorism, banditry, and other forms of insecurity for many years,” Abbas stated.
“Our response has relied heavily on the use of force, with significant resources devoted to military operations. Over the last two decades, billions of dollars have been spent on defence and security.”
He reiterated that while military efforts remain crucial, non-kinetic approaches could yield sustainable solutions, redirecting funds to other critical areas of national development.
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