Kidnapping Surge Fuels Demand For Armored Vehicles In Nigeria Amid Forex Crisis

As the haunting shadow of abductions looms over Nigeria, a surge in demand for armored vehicles by Very Important Persons (VIPs) and affluent citizens has been observed.

This uptick comes in the wake of a kidnapping epidemic plaguing the nation, prompting individuals to bolster their security.

Armored vehicle dealers, grappling with the heightened demand, have reported an increase in sales of customized bulletproof Sport Utility Vehicles (SUVs). These sales, according to industry insiders, correlate directly with the worsening insecurity gripping the country.

“In recent weeks, we’ve seen a notable spike in requests for armored vehicles,” shared Mr. Haresh Jethmalanito, Sales Manager at Inkas Armoured Vehicle Manufacturing Nigeria. “The deteriorating security situation has undeniably driven this surge in demand.”

READ ALSO: Cost Of Maintaining Healthy Diet In Nigeria Surges To N786 – NBS

The demand surge, however, comes with its set of challenges, primarily attributed to high customs duties and fluctuating foreign exchange rates. “While demand is soaring, navigating through customs duties and currency fluctuations has become a hurdle for us,” lamented Jethmalanito.

Mark Burton, President of Armor Max Vehicles, echoed similar sentiments, highlighting the impact of currency challenges on pricing. “Our clients typically spend between $35,000 and $90,000 on armored vehicles, but currency fluctuations have escalated costs significantly,” noted Burton.

Tonye Edwin, Managing Director of Globaton Services Ltd, revealed a spike in demand during the festive season, particularly from individuals traveling to high-risk areas such as the South-East. “The heightened demand during December led to a corresponding increase in vehicle prices,” said Edwin.

In response to the escalating security crisis, the Nigerian Communications Commission (NCC) has pledged support to security agencies. Aminu Maida, Vice Chairman of NCC, emphasized the commission’s commitment to enhancing security capabilities through technological interventions.

“Our collaboration with security agencies will focus on leveraging technology to address the abduction menace,” stated Maida during an interactive session with editors and bureau chiefs in Abuja.

Amidst concerns regarding the efficacy of SIM-NIN linkage in tracking kidnappers, Maida assured that the NCC would enforce sanctions against telecommunication firms involved in illegal SIM card activities.

“The commission is determined to address data security breaches and improper SIM card reallocation,” affirmed Maida, outlining the NCC’s strategic vision to fortify the telecommunications sector’s corporate governance and regulatory framework.

As Nigeria grapples with escalating security challenges, the surge in demand for armored vehicles underscores the urgent need for comprehensive measures to combat the scourge of abductions across the nation.