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FG approves $618 Million Loan for Combat Jet Purchase

Nigeria’s cabinet has approved borrowing around $618 million to acquire six Italian-made M-346 attack jets and associated ammunition for the Nigerian Air Force.

This is part of the country’s ongoing military fleet expansion, with plans revealed earlier in October to purchase 24 M-346 combat jets and 10 AW109 Trekker helicopters to address growing security threats.

The first three jets are expected by early 2025, with the remainder arriving by mid-2026. Nigeria is boosting its military capabilities in response to increasing violence in the northwest and insurgency in the northeast.

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