By John Ikani
Military spending across the globe reached a record high in 2023, with a significant increase in Africa.
According to a new report by the Stockholm International Peace Research Institute (SIPRI), global military expenditure hit $4.443 trillion, marking the ninth consecutive year of growth.
This 6.8% rise is the steepest since 2009.
Africa’s military spending mirrored the global trend, rising 22% to $51.6 billion in 2023. This surpasses spending levels in both 2022 and 2014.
Notably, sub-Saharan Africa saw an 8.9% increase compared to 2022, reaching $23.1 billion. However, this remains 22% lower than spending in 2014.
Nigeria emerged as the biggest spender in sub-Saharan Africa, allocating $3.2 billion to its military in 2023.
This represents a 20% increase from the previous year. The report attributes this rise to ongoing security challenges within the country.
North Africa, on the other hand, witnessed a steeper rise in military spending. Expenditures reached $28.5 billion in 2023, a 38% increase compared to 2022 and a significant 41% jump from 2014.
Algeria led the region, spending a record $18.3 billion on its military. This surge is linked to increased revenue from gas exports to Europe, which is seeking alternatives to Russian supplies.
The report identified the ongoing war in Ukraine and heightened geopolitical tensions in Asia, Oceania, and the Middle East as key drivers of the global spending surge.
All five regions saw an increase in military expenditure, with Europe, Asia and Oceania, and the Middle East experiencing the most significant rises.
The United States retained its position as the world’s top military spender, allocating a staggering $916 billion in 2023. China followed closely behind with an estimated $296 billion.
Russia also significantly increased its military spending by 24%, reaching an estimated $109 billion. This translates to 5.9% of Russia’s GDP.
Ukraine, facing the brunt of the ongoing war, became the eighth-largest military spender globally in 2023. Their spending jumped by 51% to $64.8 billion, constituting 37% of their GDP.
Interestingly, spending within NATO member states reached $1.341 trillion in 2023, representing a colossal 55% of global military expenditure.
