{"id":239127,"date":"2023-01-03T12:56:30","date_gmt":"2023-01-03T11:56:30","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=239127"},"modified":"2023-01-03T12:56:30","modified_gmt":"2023-01-03T11:56:30","slug":"military-spending-may-hit-2bn-in-2023-report","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2023\/01\/03\/military-spending-may-hit-2bn-in-2023-report\/","title":{"rendered":"Military spending may hit $2bn in 2023 \u2013 Report"},"content":{"rendered":"

According to Trading Economics, the projected increase in Nigeria’s military spending to $2 billion in 2023.<\/p>\n

Data for 20 million economic indicators<\/a>, including actual values, consensus estimates, projections, historical time series, and news, are provided by Trading Economics for 196 countries.<\/p>\n

This information was provided by the organization in a report posted on its website on Monday.<\/p>\n

Additionally, it stated that Nigeria’s military spending<\/a> rose from $2.7 billion in 2020 to $4.5 billion in 2021.<\/p>\n

It read, \u201cMilitary expenditure in Nigeria was expected to reach $2bn by the end of 2022, according to Trading Economics global macro models and analysts expectations.<\/p>\n

\u201cIn the long-term, Nigeria\u2019s military expenditure is projected to trend around $2bn in 2023, according to our econometric models.<\/p>\n

\u201cMilitary 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.\u201d<\/p>\n

Timothy Avele, a security expert, noted that the current administration has spent a lot of money on security but that the funds have not been properly implemented or monitored.<\/p>\n

He said, \u201cTruth be told, I think this administration spent the biggest budget in the security and defence sector. However, I score the administration 35% in proper implementation and monitoring of the huge funds budgeted and released for security and defence.<\/p>\n

\u201cThe funding was spent but the results on the ground indicated poor usage by those concerned and sadly, no questions asked by those who were supposed to ask questions.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

According to Trading Economics, the projected increase in Nigeria’s military spending to $2 billion in 2023. Data for 20 million economic indicators, including actual values, consensus estimates, projections, historical time series, and news, are provided by Trading Economics for 196 countries. This information was provided by the organization in a report posted on its website […]<\/p>\n","protected":false},"author":9,"featured_media":239131,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"custom","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"single-left","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"floatbottom","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"1","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[2],"tags":[3730,54273,54272,10415],"class_list":["post-239127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-3730","tag-hit-2bn","tag-military-spending","tag-report"],"yoast_head":"\nMilitary spending may hit $2bn in 2023 \u2013 Report<\/title>\n<meta name=\"description\" content=\"According to Trading Economics, the projected increase in Nigeria's military spending to $2 billion in 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2023\/01\/03\/military-spending-may-hit-2bn-in-2023-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Military spending may hit $2bn in 2023 \u2013 Report\" \/>\n<meta property=\"og:description\" content=\"According to Trading Economics, the projected increase in Nigeria's military spending to $2 billion in 2023. 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