Key Market Indicators
Nigeria's weapon imports are projected to surge to approximately $128 million by 2028, according to recent data. This marks an increase from the current figure of $116 million in 2023, reflecting a compound annual growth rate (CAGR) of 1.6%. The country's demand for weapons has shown a significant upward trend over the decades. Since 1966, Nigerian weapon imports have risen at an average rate of 18.8% annually. This sustained growth underscores Nigeria's expanding defense needs and its evolving role in regional security dynamics.
