• Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Facebook X (Twitter) Instagram
Thursday, August 27
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram
Oriental News Nigeria
NRS Tax campaign
  • Home
  • Photo News
  • News
    • NGO/CSO
    • Photo News
    • OrientalNews 7th Anniversary
    • Press Releases
    • World News
    • Nigeria News
    • Politics
    • Opinion
    • Sports
  • Interviews
  • SMEs
  • Law
    • Crime
  • Travel & Tours
    • Aviation
    • Tourism
  • Energy
    • Oil & Gas
    • Power
  • Business
    • Banking & Finance
      • Capital Market
      • Money Market
    • Pension
    • Insurance
    • Brands & Marketing
    • IT & Telecoms
    • Labour
    • Agriculture
    • Maritime
    • Property
    • Manufacturing
  • Regulators
    • Nigeria Bureu of Statistics
    • PENCOM
    • NAICOM
    • SEC
    • NSE
    • CBN
Oriental News Nigeria
Home»News»World News»African News»As Oil Prices Dip, African Countries Spend Less on Military
African News

As Oil Prices Dip, African Countries Spend Less on Military

By orientalnewsngMay 4, 2017Updated:May 4, 2017No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Image result for Stockholm International Peace Research Institute (SIPRI)

Agency Report

African military expenditures have finally slowed down after more than a decade of steady increases, according to a new report on global defense spending. The main reason, the report found, is a drop in oil prices.

“The sharp decreases in oil prices has affected quite a number of African countries, namely South Sudan and Angola. This has kind of driven almost the entire regional trend,” said Nan Tian, a researcher at the Stockholm International Peace Research Institute’s (SIPRI) Arms and Military Expenditure Program, the organization that authored the report.

The SIPRI report found military spending in Africa in 2016 was down by 1.3 percent from the previous year and totaled about $37.9 billion.

Despite the drop, Africa’s military spending remains 48 percent higher than it was a decade ago. “A few of the top spenders within these regions are generally oil economies, so the low oil prices have meant sharp cutbacks in government financing and that includes military spending,” he said.

Some of Africa’s biggest spenders in recent years have included oil-rich Angola, which has sought to modernize its air force and navy, and Algeria which has tried to preserve its stability amid the collapse of Libya and the rise of extremism in North Africa. Both of those countries have slowed spending recently, Tian said.

Weighing spending against needs

Tian said that perhaps the most important question to ask, is whether military spending in Africa is at appropriate levels.

Ten African countries have military expenditures greater than 3 percent of their GDP. The highest are the Republic of the Congo where military expenditures totaled 7 percent of GDP in 2016, and Algeria where military spending totaled 6.7 percent of GDP.

Globally, military spending is 2.2 percent of GDP or about $227 per person.

“You have the security aspect also in Africa. We have the opportunity costs,” Tian said. “It is the poorest continent. The question is: should this continent be spending? Are they spending enough or are they spending too much on military based on their current income levels? Should they rather be prioritizing other aspects of spending maybe health care, maybe education, maybe infrastructure?”

Not all African countries saw a decline in military spending. According to the report, Botswana’s military spending grew by 40 percent, or about $152 million. Botswana is regularly noted for having a long record of peace and good governance, and is undergoing a military modernization program.

Nigeria increased its military spending by 1.2 percent to $1.7 billion as it strives to defeat the radical Islamist group Boko Haram. Similarly, Kenya and Mali increased military spending due to extremist threats in their regions.

Share this:

  • Share
  • Email a link to a friend (Opens in new window) Email
  • Tweet
  • Share on Reddit (Opens in new window) Reddit
featured slider
orientalnewsng

Related Posts

African Nations Move Towards Unified Reparations Claim Against Britain 

December 11, 2025

AFRIMA MEETS ECCAS, UNESCO IN GABON, DISCUSSES PLANS TO STIMULATE AFRICA’S CREATIVE ECONOMY 

June 24, 2022

Faces At CIIN Night Of Talents In Lagos Yesterday

March 19, 2022

Leave A Reply Cancel Reply

The latest
  • GOCOP Mourns Former President Dotun Oladipo
  • Nigeria’s president orders rescue after mass kidnapping exposes security failings 
  • ASKY Connects Kano And Niamey Under A New Air Service Operation
  • Over 400 Nigerians Embarks On Practical Digital Marketing Training 
  • Zenith Bank Sustains Decade Of Economic Diversification Advocacy 
  • Heirs Insurance Group Reinforces Commitment To Retirees’ Wellbeing
  • Nigeria Moves To Reduce $23 Million Pharmaceutical Starch Import Bill
  • Rite Foods Restates Commitment To Advance Nigeria’s Manufacturing Industry 
  • Nigerian Young Adults, Singles Offered Opportunity To Explore Faith-Based Relationships 
  • Savannah Energy Closes In To Producing More Gas For Local Market, Expands Electricity Investment 
Categories
Quick Links
  • About us
  • Terms of use
  • Privacy Policy
  • Disclaimer
  • Advertize here
  • Contact us
Facebook X (Twitter) Instagram YouTube LinkedIn
Copyright © 2026 Oriental News Nigeria. All right reserved.

Type above and press Enter to search. Press Esc to cancel.