War no be only about soldiers dying or countries losing ground. For inside, e dey create one powerful economic engine wey dey make some people chop big money. According to fresh reports from DW Hausa wey dem analyze, the weapons industry dey enjoy serious profit from conflicts around the world, and Naija and other African countries dey major customers.
The report show say companies like Lockheed Martin, Raytheon Technologies, and BAE Systems dey rub their hands with joy for areas wey get political wahala because na there dem dey make their biggest profit. The modern defense industry no just get influence, but e get balance and profit size wey usually increase well-well during times of crisis or war.
“For sure, we don see increase for buying weapons for countries especially Nigeria, wey dey represent 34 percent of the weapons wey dem dey buy for West Africa,” Dr. Isa Abdullahi talk. The Ukraine war, the Middle East conflicts, and the unrest for some parts of Africa, don help give weapons manufacturing companies chance to make abnormal profit. But how these companies dey do this business? “Many times, dem dey pay money to collect weapons, other times, dem dey exchange weapons for crude oil.”
Countries like America, China, Turkey, Germany, and Britain get majority of the war weapon companies. Research show how big defense contractors don make profit of $922 billion for 2024 alone. One report wey SIPRI release show say the income wey global weapons companies collect reach $632 billion for 2023 because of Russia‘s return for Ukraine and the Middle East crisis.
The effort to defend yourself from the threat of war na part of wetin dey increase the value of weapons markets, according to retired Major General Yahaya Shinko. “Any country with economy wey no get security system, e dey face the threat of not enjoying its wealth.”
The main American defense contractor Lockheed Martin, for north of Bethesda for Maryland state, don do over 30 deals with other companies for the country, where e corner profit of $6.9 billion for 2023 and $75 billion for 2025. Germany dey pass every other country for Europe for getting money from selling weapons, where big companies wey dey make war tanks and rockets like Rheinmetall, Thyssenkrupp, Hensoldt, and Diehl don make profit of $15 billion per year.
Big companies from Turkey, China, Iran, Russia, and Israel don get the advantage of strong market for some African countries. “The extremist groups for Sahel countries of Africa, don add more demand for the weapons market,” according to Alkassoum Abdourahamane, security expert for the Sahel region. E add say even so, the companies no dey measure the profit wey dem dey used to get for past years. “Buying of weapons don reduce for Africa by 40 percent because some big weapons buyers like Morocco and Algeria don reach their security goals.” Alkassoum talk.
Wars no just dey create profit for countries or companies, dem dey promote demand for every level, for example, dem must replace armored weapons and bullets and armored vehicles and fighter jets wey dem dey destroy for the battlefield. Nigeria dey first for the list of West African countries wey dey buy weapons from outside. “We dey buy drone weapon for the price of 150 million Naira each one,” Nigerian Defense Minister Christopher Musa talk. About 40 percent of the amount of Nigeria weapons from foreign companies dem buy, like Super Tocano from America and JF-17 from Pakistan, even though e dey buy small weapons from Italy, South Africa, France, and some Eastern European countries.
The effect of war for the business side dey have impact for changing global stock markets. Defense stocks usually dey rise when conflicts dey escalate, with showing prediction of profit increase for the security side. Russia na big seller to world countries for the weapons market for Africa, “From 2018 to 2023, Russia don sell 22 percent of weapons for Africa,” Alkassoum talk. Countries like Burkina Faso, Niger Republic, and Mali dey need weapons from outside. “Africa don buy weapons 19 percent from China,” Alkassoum talk.
Modern security companies no dey depend on just selling weapons, dem dey increase getting abnormal profit from maintenance contract and long-term training. But some developing countries dey receive big weapons as Dr. Isa Abdullahi, economics expert for Nigeria, explain to DW. “The government of Muhammadu Buhari don buy weapons wey reach $1 billion from America, but e pay one portion with crude oil.”
The relationship wey dey between war and weapons manufacturers no be hidden matter, e be structure. Security companies don enter into the national security structure, where majority of their business dey come directly from government budget. Trading institutions don estimate say dem don get weapons trade behind the scenes of at least $1 billion, wey majority dey slip to the hands of terrorist groups.
Apart from the kind of abnormal profit wey war dey promote for the economy of weapons manufacturing companies, but the human cost of the war dey show the real truth about the situation of how maybe dem dey escalate the war wey we dey see for this modern time to help big weapons manufacturing industries for the world behind the scenes.
In other news, foreign ministers of G7 countries wey be the strongest economies for the world dey plan to meet for France this Thursday, for two-day meeting wey dem go discuss the unrest wey dey face for some parts of the world. The meeting go focus on ways to maintain peace and share humanitarian aid materials to victims, plus the topic of rebuilding cities wey war don destroy and the situation wey Ukraine dey. More details: Will dem settle between AES and ECOWAS? American Secretary of State Marco Rubio dey among the participants of the meeting wey dem dey expect his coming for Friday.
G7 countries consist of France, Italy, Japan, Canada, plus Germany, America, and Britain, while dem don send invitation message to countries Brazil, South Korea, India, and Saudi Arabia as big guests.
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