Military Expenditure To Increase In 2023

Nigeria’s military expenditure is projected to increase to about $2bn in 2023, according to Trading Economics.

Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news.

The organisation disclosed this in a report published on its website on Monday.

It also said military expenditure in Nigeria increased to $4.5bn in 2021 from $2.7bn in 2020.

It read, “Military expenditure in Nigeria was expected to reach $2bn by the end of 2022, according to Trading Economics global macro models and analysts expectations.

“In the long-term, Nigeria’s military expenditure is projected to trend around $2bn in 2023, according to our econometric models.

“Military expenditure in Nigeria averaged $1.2bn from 1960 until 2021, reaching an all-time high of $4.5bn in 2021 and a record low of $23.4m in 1960.”

Check Also

I Won’t Quit Eagles Now — Ahmed Musa

Super Eagles captain, Ahmed Musa, has said he will continue to play football for as …

Appeal Court Grants Obi’s Request To Serve Petition On Tinubu

The Court of Appeal has granted permission to Labour Party’s presidential candidate, Peter Obi, to …

Cash Crunch: We’ve Dispatched Money To Banks – CBN Tells Nigerians

The Central Bank of Nigeria (CBN) has confirmed the evacuation of banknotes from its vaults …

Leave a Reply

Your email address will not be published. Required fields are marked *