The Federal Executive Council (FEC) has approved loans totaling €443 million and $141 million for the Nigerian Air Force (NAF) to procure six M346 fighter aircraft and ammunition.
The announcement was made by Mohammed Idris, the Minister of Information and National Orientation, following the FEC’s weekly meeting chaired by President Bola Tinubu in Abuja.
Idris stated that the funding will be sourced from a “group of financiers,” although he did not disclose their identities. He emphasized the significance of the procurement for enhancing the operational capabilities of the NAF.
In April 2024, the NAF indicated that it expects to take delivery of the six M346 fighter aircraft by the end of the year. This move follows a significant deal struck in November 2023 with the Italian defense company Leonardo for the supply of 24 M346 fighter aircraft, valued at approximately €1.2 billion.
In October 2024, NAF officials traveled to Italy to finalize arrangements for the acquisition of the 24 M346 fighter ground attack jets, alongside 10 AW-109 Trekker helicopters.
Additionally, Idris announced that the FEC approved contracts worth N44.2 billion for the Nigeria Customs Service (NCS) to procure vehicles and construct residential apartments, further demonstrating the government’s commitment to enhancing national security and infrastructure.
