According to the Military Expenditure Database released by the Stockholm International Peace Research Institute (SIPRI), there was a spike in military expenditure across the globe with the United States, China, Russia, India, and Saudi Arabia emerging as the five biggest spenders in 2023 and accounting for 61% of world military spending.
The SIPRI report further noted that in 2023, the military expenditure in sub-Saharan Africa rose to $23.1 billion which is about 8.9% higher than the total expenditure in 2022.
Top 5 African countries spending the most on their military
Below are the top five African countries with the highest military expenditure in 2023. Their positions in terms of military might is also highlighted:
1. Algeria
Algeria’s military expenditure in 2023 was recorded as $18.3 billion, which indicated a 76% increment. This was recorded as the highest level of expenditure ever recorded by the country.
According to Statista, Algeria is the second strongest military in Africa.
2. Morocco
Morocco’s military expenditure in 2023 was recorded as $5.1 billion, indicating a 2.5% decline. Despite the drop in military expenditure, Morocco was ranked the second largest military spender in Africa.
The country has the 7th strongest military in Africa.
3. Nigeria
Nigeria came in third position with a military expenditure of $3.2 billion in 2023. Nigeria’s internal terrorism crisis has put the country on its toes for over a decade and this has created the need for more spending on military hardware.
The country’s military spending spiked 20% to $3.2 billion in 2023, also making it the biggest spender on defence in sub-Saharan Africa. Nigeria’s military might is ranked 4th in Africa.
4. South Africa
South Africa came next with a military expenditure of $2.7 billion in 2023. This also indicated a 10% decline from its military spending in 2022 ($3.00B).
South Africa’s military is ranked 3rd in Africa in terms of military might.
5. Angola
Angola’s military spending in 2023 which stood at $1.2 billion places it in 5th position.
Angola’s military is currently ranked 6th in Africa in terms of military might.
Source link : https://www.pulse.ng/business/domestic/top-african-countries-spending-the-most-on-their-military/704hrl4
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Publish date : 2024-07-15 19:42:08
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