Italian Fighter Jets: FEC OKs $618M Financing

$618M Loan Approved for Italian Jet's 

Nigeria has been increasing its defense spending to combat security threats...

The Federal Executive Council (FEC) has approved a $618 million loan for the purchase of Italian fighter jets, boosting national defense capabilities.

Nigeria's Federal Executive Council (FEC) has approved a $618 million loan to purchase six Italian-made M-346 attack jets and ammunition for the Nigerian Air Force. This announcement was made by Minister of Information and National Orientation, Mohammed Idris, on Wednesday.

Details of the Acquisition:

• Loan Amount: $618 million
• Aircraft Type: Italian-made M-346 attack jets
• Number of Jets: Six
• Additional Acquisition: 24 Italian-made M-346 attack jets and 10 AW-109 Trekker helicopters
• Delivery Timeline: First three jets expected by early 2025, remaining deliveries by mid-2026

This significant investment is part of the Nigerian Air Force's fleet renewal strategy, aimed at enhancing its capabilities.

Nigeria is beefing up its air force capabilities in the fight against insurgents. The Air Force spokesperson, Olusola Akinboyewa, announced that a delegation led by Chief of the Air Staff, Air Marshal Hasan Abubakar, met with Leonardo S.P.A. executives in Rome. This meeting confirmed the arrival of three M-346 jets by early 2025, with the rest coming by mid-2026.

These new jets will give Nigerian troops more firepower and aerial advantage in the ongoing battle against insurgents. Talks between Nigeria and the Italian firm began in early 2024 when Claudio Sabatino, Leonardo's Vice President, met with Air Force Head Hasan Abubakar in Abuja.

Nigeria has been increasing its defense spending to combat security threats. In 2024, the government allocated N3.3 trillion to defense, a significant boost. This investment is part of Nigeria's efforts to counter Boko Haram and the Islamic State West Africa Province (ISWAP). The country has become the largest importer of military equipment in sub-Saharan Africa, with China being its largest foreign supplier since 2017.

Highlights:

Jet Arrival: Three M-346 jets arriving by early 2025, with remaining deliveries by mid-2026

Defense Spending: N3.3 trillion allocated to defense in 2024

Security Threats: Efforts to combat Boko Haram and ISWAP

International Partnerships: Nigeria working with Italy and China to boost military capabilities