Bulletproof Boom: Surge In Demand For Armoured Vehicles Amid Kidnapping Crisis, Dealers Struggle With Forex Woes

Bulletproof Boom: Surge In Demand For Armoured Vehicles Amid Kidnapping Crisis, Dealers Struggle With Forex Woes

In response to the alarming wave of abductions sweeping across Nigeria, there has been a notable uptick in the demand for bulletproof vehicles, especially among Very Important Persons (VIPs) and affluent individuals….Read more related story hereAlarming Reports Of Organ Harvesting Emerge: Nigerian Man Warns Of Kidnappings For Kidneys In Kaduna

Armoured vehicle dealers interviewed by The PUNCH confirmed a surge in sales of customised bulletproof Sport Utility Vehicles as the kidnapping epidemic worsened. Armed gangs, operating from various forests, have been infiltrating major cities, demanding exorbitant ransoms, prompting victims and families to seek refuge in crowdfunding despite government warnings.

Prominent and wealthy individuals are fortifying their personal and family security through the acquisition of customised armoured vehicles, according to armoured vehicle firms. Inkas Armoured Vehicle Manufacturing Nigeria’s Sales Manager, Mr Haresh Jethmalanito, revealed a significant increase in demand since the beginning of the year, attributing it to the worsening insecurity in the country.

However, Jethmalanito expressed concern over the impact of high customs duties and fluctuating foreign exchange rates on the business. He emphasized, “The demand for armoured vehicles has increased by multiple folds. The prices have also gone up because of the demand. Also, customs duties and foreign exchange rates have been major issues for us.”

Mark Burton, President of Armor Max Vehicles, corroborated the rising demand for armoured vehicles and highlighted the challenges posed by currency fluctuations. Prices for armouring and vehicles reportedly range from $35,000 to $90,000, with the naira-to-dollar challenges causing increased costs.

Tonye Edwin, Managing Director of Globaton Services Ltd, reported higher demand in December, particularly from Nigerians traveling to the South-East. He noted that this surge led to an increase in the prices of armoured vehicles.

In response to the escalating security challenge, the Nigerian Communications Commission (NCC) pledged support for security agencies. Aminu Maida, Vice Chairman of the NCC, assured collaboration with security agencies to enhance their technological capabilities in addressing abductions. Maida also emphasized plans to sanction telecommunication firms and those involved in illegal SIM card registrations.

As the demand for armoured vehicles rises amid the kidnapping crisis, dealers find themselves grappling with forex challenges, impacting costs and posing additional hurdles to an already demanding market.