BusinessDay- The Federal Government may have spent well over N1 trillion in the fight against the Boko Haram and other terrorist groups in the country since 2009, BusinessDay checks have revealed.
The latest report by the Stockholm International Peace Research Institute (SIPRI), based in Sweden, shows that in 2012, Nigeria ranked sixth highest spender on military in Africa, and this is because of the increase in insurgency across the country.
The war against terror in Nigeria raised military expenditure to a staggering $2.327 billion (N372.3bn) in 2012 alone, ranking Nigeria among countries at war in Africa, according to the report by SIPRI.
The report released recently shows that the country’s military spending is the sixth highest in Africa, competing with the expenditure of countries like Libya ($2.9bn), Morocco ($3.4bn), Angola ($4.1bn), South Africa ($4.4bn), and Algeria ($9.3bn).
Countries with relatively lower expenditure among the top 10 spenders on military in Africa include Cote d’Ivoire ($407m), Namibia ($407m), Tunisia ($709m), Kenya ($798m), and South Sudan ($964m).
Nigeria’s budget on defence has consistently been on the increase since 2009, when the Boko Haram insurgency began in Borno State, North East of the country.
In 2009, the budget allocation to defence was N233 billion, in 2010 it was N264 billion, 2011- N348 billion, in 2012 budget for security was N921.91 billion, and N348.91 billion in 2013.
Despite the official budgets, funds are said to have been mobilised from other sources for the same purpose.
Following the state of emergency declared by the Federal Government in May on three states of the North-Eastern Nigeria, Borno, Adamawa and Yobe, the security votes to the governors of the affected states were seized as part of funds to combat the insurgency.
Central Bank of Nigeria’s (CBN) monetary policy committee had recently warned that military operations against Islamic insurgents in the North could pose liquidity risks for the economy.
Sanusi Lamido Sanusi, governor, CBN, and chairman of the committee, had projected that the emergency rule declared in the three North-Eastern states might spur increased spending by government, with its attendant liquidity risks in the economy.
“The recent military action in the North-East will result in additional spending,” Sanusi said.
Shortly before the state of emergency declaration, President Goodluck Jonathan had set up a committee to look at the possibility of granting amnesty to the militants.
While the committee was consulting with the different insurgent groups, the insurgents’ attacks became deadlier, forcing government to approve their proscription and authorised the gazzetting of an order declaring the groups’ activities illegal and acts of terrorism.
Culled from BusinessDay
