Close Menu
    Facebook X (Twitter) Instagram YouTube
    Advertise with us Tuesday, May 20
    Facebook X (Twitter) Instagram
    Platform TimesPlatform Times
    VIDEOS
    • Home
    • News
    • Metro
    • Politics
    • Business
    • Education
    • Health
    • Special Reports
    • Entertainment
    • Sports
    • Interview
    Platform TimesPlatform Times
    • Home
    • News
    • Metro
    • Politics
    • Business
    • Education
    • Health
    • Special Reports
    • Entertainment
    • Sports
    • Interview
    Home»Featured

    Nigeria’s N231 Billion Arms Spending Raises Concerns As Security Challenges Persist

    Platform Times NewspaperBy Platform Times NewspaperNovember 24, 2023 Featured No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    In the past four years, the Federal Government of Nigeria has allocated a staggering N231.27 billion towards the procurement of arms and ammunition, aiming to bolster the capabilities of the nation’s security agencies. 

    Despite this substantial investment, security challenges persist, prompting scrutiny and calls for strategic reassessment.

    The Chief of Defence Staff, General Christopher Musa, defended the substantial budget, highlighting the nation’s reliance on foreign purchases due to the absence of a domestic military hardware manufacturing capacity. 

    He explained that the funds, often perceived as substantial in naira, were significantly diminished when converted into dollars, emphasizing the high costs associated with purchasing essential military equipment.

    An analysis of the Ministry of Defence and eight other armed forces’ yearly budgets from 2020 to 2022 revealed allocations of N11.72 billion, N10.78 billion, and N9.64 billion, respectively.

    In 2023, an additional N47.02 billion was disbursed for arms procurement, complemented by a supplementary budget of N184.25 billion, culminating in the total expenditure of N231.27 billion.

    Disturbingly, recent data indicates that N115 billion was spent on importing arms and ammunition in the first quarter of the year, surpassing figures from the preceding two years.

     The escalating reliance on foreign sources for weaponry raises questions about the efficacy of the Defence Industries Corporation of Nigeria (DICON), an agency designed to manufacture arms domestically.

    Security expert Chidi Omeje expressed concern over DICON’s underperformance, stressing the urgent need for its revitalization to reduce dependency on foreign nations.

    He pointed out the disparity between DICON and its international counterparts, emphasizing the imperative for the agency to contribute substantially to the country’s defense needs.

    Omeje’s assertion is grounded in the belief that DICON’s transformation is crucial in addressing the nation’s security challenges, ensuring self-sufficiency in arms production, and diminishing reliance on external sources. 

    Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com

    We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE

    Pelican Valley
    Platform Times Newspaper
    • Website

    Platform Times is a trailblazing news website that empowers grassroots communities across Africa by delivering the latest news through engaging multimedia content. By leveraging photos, text, and videos, the site inspires concerned citizens and activists worldwide to take action against critical issues, including corruption, poverty, environmental degradation, and democratic disregard.

    Keep Reading

    Court Remands Ecobank Staff In Ikoyi Prison Over N2.4m Cyber Fraud

    Fuel Imports Surge To N436bn In 9 Days, Dangote Faces Stiff Competition

    Gateway Games 2024 : Delta Overtakes Cross River, Dominates Early Race

    N2.2bn Fraud Case: Fayose Insists On No-Case Submission, Seeks Dismissal

    Retired Civil Service Administrative Officers Elect New Exco, Launch Constitution At Ogun Triennial Congress

    Saraki Blames Buhari Presidency For Frustrating 8th Senate

    Add A Comment

    Comments are closed.

    The Rehla
    The Rehla'
    Advertisement
    Pelican Valley'
    Advertisement
    Advertisement
    Pelican Valley'

    Platform Times is a trailblazing news website that empowers grassroots communities across Africa by delivering the latest news through engaging multimedia content. By leveraging photos, text, and videos, the site inspires concerned citizens and activists worldwide to take action against critical issues, including corruption, poverty, environmental degradation, and democratic disregard.

    We're social. Connect with us:

    Facebook X (Twitter) Instagram Pinterest YouTube
    • About Us
    • Advertise
    • Contact Us
    • Disclaimer
    • Download Platform Times app

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Facebook X (Twitter) Instagram Pinterest
    • About Us
    • Advertise
    • Contact Us
    • Disclaimer
    • Download Platform Times app
    © 2025, All Rights Reserved | Platform Times Newspaper | Powered By CyberWarrior

    Type above and press Enter to search. Press Esc to cancel.