Nigeria's Military Spending Is Falling — What That Means for Private Capital

Nigeria's Military Spending Is Falling — What That Means for Private Capital

With a population of over 240 million people, a US$ 400 billion-plus economy, and a dominant position in West African trade, Nigeria continues to attract capital into sectors such as energy, telecoms, and financial services. Yet beneath this opportunity lies a persistent security challenge that directly shapes investor risk assessments in the country. In recent years, Nigeria’s military spending and budget allocation have declined, and this shif…