Meet CEOs/Founders supporting Nigeria’s N4.91 trillion defence industry

Nigeria’s economy is increasingly defined by the twin pressures of growth and insecurity.

Defence and security remain central to national priorities, commanding one of the largest budget allocations in recent years.

In 2024, the Federal Government earmarked N3.85 trillion ($5.13 billion) for defence, nearly 13.4% of total spending and almost 38% higher than 2023.

And by 2025, it budgeted N4.91 trillion for defence and security. Yet despite the rising allocations, the country remains heavily reliant on foreign arms.

Official data shows Nigeria imported N26.95 billion worth of weapons in the first half of 2025 alone, more than double the N11.76 billion recorded in the same period of 2024.

Between 2022 and 2023, imports surged by over 400%, showing the gaps in local defence capacity.

Those gaps have created space for a growing class of Nigerian defence contractors.

Local firms are beginning to position themselves across the defence and security value chain, supplying products and services that range from protective equipment and training systems to surveillance technology and cybersecurity solutions.

As insecurity continues to shape political debate and economic outcomes, these contractors are emerging as increasingly consequential players seeking to reduce Nigeria’s reliance on foreign suppliers while competing for a share of one of the government’s most strategic spending priorities.