National News
FEC approves $618 million loan to purchase 6 Italian M-346 jets
The Federal Executive Council (FEC) has approved a loan of approximately $618 million from a consortium of financiers to strengthen the Nigerian Air Force with six Italian-made M-346 attack jets and accompanying ammunition.
The approval, announced on Wednesday by the Minister of Information and National Orientation, Mohammed Idris, is part of the government’s ongoing efforts to enhance national security and military capabilities.
The Nigerian Air Force revealed that the first batch of three M-346 jets is expected to arrive by early 2025, with the final deliveries continuing until mid-2026. This move is part of a broader strategy to rejuvenate the Air Force’s fleet. Last week, the military announced the acquisition of 24 M-346 attack jets and ten AW-109 Trekker helicopters from Italian defense manufacturer, Leonardo S.P.A.
Air Force spokesperson, Olusola Akinboyewa, confirmed that a delegation led by the Chief of the Air Staff, Air Marshal Hasan Abubakar, recently held meetings in Rome with Leonardo’s executives to finalize the deal.
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