The causes, extent and preventive methods of the proliferation of small arms and light weapons in Nigeria have been the subject of significant studies on the proliferation of small arms and light weapons. It has been found that the literature lacks the use of the devil theory of imperialism in analyzing the political economy of the proliferation of small arms and light weapons in Nigeria. The methodology was based on content analysis of extant literature on uncontrolled arms, illicit arms, and conflict and insecurity from textbooks, magazines, the Internet and other sources. The results of this study show that international and local partners are all involved in the proliferation of illegal firearms in Nigeria, making it impossible for the government to control the proliferation of small arms and light weapons. The study also shows that the fight against the proliferation of small arms and light weapons in Nigeria is slowing due to the nature of the people involved in the proliferation of small arms and light weapons in Nigeria, as well as the limited capacities of the Nigerian states due to a lack of political will to curb the countrys growing insecurity. Finally, this study suggests that the proliferation of small arms and light weapons, as well as insecurity, will continue uninterrupted until arms dealers and their collaborators are caught and prosecuted.