He said the diversion of weapons from government armouries remains the most worrisome challenge.
The National Centre for the Control of Small Arms and Light Weapons says it has seized and destroyed 16,000 illicit arms and light weapons across Nigeria in the past four years.
Mr Ribadu described the menace as a “monstrous challenge” to national peace and stability.
Mr Ribadu noted that the Gulf of Guinea had earned a reputation as treacherous waters for seafarers.
Human rights lawyer Femi Falana says Nigerians have the right to carry firearms.
The IGP said the order was to curb trafficking of illicit small arms and light weapons and mitigate security threats to the March 18 elections.
“The National Centre for the Control of Small Arms and Light Weapons is working tirelessly to stem this tide, and we are achieving positive results.”
The coordinator of the National Centre for the Control of Small Arms and Light Weapons has solicited the support of the Nigerian Army to rid the country of illicit arms.