Tinubu’s govt approves $618 Million loan for acquisition of Italian M-346 attack jets

The Federal Executive Council (FEC) has approved a $618 million loan to fund the acquisition of six Italian-made M-346 attack jets and ammunition for the Nigerian Air Force.

The announcement was made by Minister of Information and National Orientation, Mohammed Idris, following the council’s meeting on Wednesday.

The Nigerian Air Force anticipates the arrival of the first three jets by early 2025, with the rest set to be delivered by mid-2026. This acquisition is part of a broader strategy to bolster Nigeria’s military capabilities, as the Air Force has also secured 24 M-346 attack jets and ten AW-109 Trekker helicopters from Italian aerospace firm Leonardo S.P.A.

Chief of the Air Staff, Air Marshal Hasan Abubakar, had previously led a delegation to Rome to finalize the deal. The government’s increasing investments in defence and security, including a N3.3 trillion allocation for 2024, are aimed at tackling insurgencies and other security challenges across the nation.