Featured Finance Metro

N124bn weapons imported in four years – Report

Arms and ammunition worth N8.368bn were brought into the country in the third quarter of 2022.

The figure was contained in the National Bureau of Statistics report on trade statistics obtained by our correspondent.

Although the report did not state which agency imported the arms and ammunition, the said data for the report is from the Nigerian Customs Service through the Integrated Customs Information System, the Nigerian National Petroleum Corporation Limited, various companies in the upstream and downstream sectors of the oil industry, the Central Bank of Nigeria, Angila International Limited, Neroli Technologies Limited, Gojopal Nigeria Limited, Carmine Assayer Limited, the Federal Airports Authority of Nigeria, the Nigeria Civil Aviation Authority and the Nigerian Ports Authority among others.

Also contained in the report was the importation of arms and ammunition in 2018.

In 2018, N1.946bn worth of arms and ammunition were imported into the country, while in 2019, N12.773bn was spent on the importation of arms and ammunition.

For 2020, N29.236bn worth of arms was imported. In 2021, N72.5bn in arms and ammunition were imported, and for the third quarter of 2022, N8.368bn was spent on the importation of the commodities.

This amounts to a total of N124.82bn since 2018.

Sokoto govt faults NBS poverty rating
Before now, there had been debate over whether to begin the manufacturing of weapons in the country to reduce the cost of importation.

Last year, at a ministerial retreat, the President, Major General Muhammadu Buhari (retd.), promised that the Defence Industries Corporation of Nigeria would be resuscitated to produce weapons locally.

A security expert, Oladele Fajana, believed that since the nation has been unable to produce, importing is the next option.

He said, “It is good if we can produce our weapons ourselves. Even if we import, we won’t solely be depending on foreign countries for our weapons.

“I have seen some equipment being produced by DICON; they are trying; they just need to be encouraged and well-funded.

“However, the funds required to revive that company are greater than the funds spent on the importation of these weapons, but we have no choice but to import.”

Related posts

VAT: Five northern states, two SW, two SS among top beneficiaries

Our Reporter

Wike, EFCC fight over fresh probe into Rivers’ finances

Editor

No serious nation will ignore investment in education – Lagos LG boss

Our Reporter

Access Bank’s N95bn Green Bond fully subscribed — GMD

Editor

DERAILMENT: Cargo evacuation at Apapa port stalled

Our Reporter

NUPENG extends 14-day strike notice by 7 days

Abisola THOMPSON