Monday, May 17, 2021

Nigeria need $2 billion annually to fund Armed Forces, says DHQ

 Nigeria would need a whopping 2 billion dollars (about N826 billion) annually to fund its Armed Forces to effectively combat the daunting challenges of insecurity it presently faces, the Defence Headquarters said in Abuja on Monday.

The Nation

This disclosure came to the fore on Monday just it was revealed that some members of the Armed Forces currently engaged in the fight against insurgency and other criminal act are lobbying to be redeployed from the area where they are posted as a result of poor welfare.

Speaking at a public hearing on a bill to establish a the Armed Forces Special Trust Fund organized by the House of Representatives Committee on Defence, Director of Production, Defence Headquarters, Air Vice Marshal M. A. Yakubu, who spoke at a public hearing on the Armed Forces Support Trust Fund Bill organized by the House of Representatives Committee on Defence said even the sources of funding specified in the Bill would be inadequate to tackle the problem.

The Bill seeks alternative sources of funding for the Armed Forces to improve the software, hardware and training.

Yakubu said the projection for funding in the Bill is estimated at about N100 billion per year.

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