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  "documentTitle": "2025 Nigeria Budget and Economic Outlook",
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      "text": "Nigeria's defense spending as a percentage of GDP stood at 1.6% in 2024, a 1.1 percentage-point increase from 2023 while defense spending per capita stood at ₦16,546 compared to ₦5,485 in 2023.",
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      "text": "Nigeria’s defense spending as a percentage of GDP stood at 1.6% in 2024, a 1.1 percentage-point increase from 2023 while defense spending per capita stood at ₦16,546 compared to ₦5,485 in 2023. This shows increased effort to manage insecurity, however these figures are still far from 2023 global averages of 2.18% for defense spending as a percentage of GDP.\nThe low spending as a percentage of GDP may be due to limited revenue generation and competing priorities in critical sectors such as education, healthcare and infrastructure.",
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      "text": "Source: Stockholm International Peace Research Institute, PwC Analysis",
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