Nigeria’s government spent a staggering ₦7.68 trillion on the importation of armored fighting vehicles and tanks in 2023, amidst escalating insecurity. At an exchange rate of $1 to ₦899.393, this translates to approximately $8.54 billion.
According to data from Statisense shared with Africa Health Report (AHR) on Friday, the massive spending far exceeds the allocations to essential sectors such as education and healthcare.
In 2023 Federal Government budget, ₦1.08 trillion was allocated to the Ministry of Education, but only ₦136.76 billion of the ₦239 billion set aside for capital projects was released.
Similarly, the Ministry of Health received a total allocation of ₦1.1 trillion, yet just ₦120.96 billion of its ₦404 billion for capital projects was disbursed.
These figures underscore the heavy fiscal toll of insecurity, diverting resources away from crucial sectors needed to foster national development.
