Nigeria’s cabinet has approved borrowing approximately $618 million from a consortium of financiers to purchase six M-346 attack jets and ammunition for the air force, Information Minister Mohammed Idris announced on Wednesday. This acquisition is part of a broader strategy to renew Nigeria’s military fleet, with the air force already having plans to acquire 24 M-346 combat jets and 10 AW109 Trekker helicopters.
The first three jets are expected to be delivered by early 2025, with all deliveries completed by mid-2026. This move comes amid Nigeria’s escalating military spending, which aims to counter increasing attacks by armed bandits in the northwest and a 15-year Islamist insurgency led by Boko Haram and Islamic State West Africa Province in the northeast.
Nigeria’s growing military budget shows the government’s focus on strengthening its defenses, with the approval for this new borrowing following earlier commitments to boost air capabilities.
Nigeria Approves $618 Million Loan to Acquire Italian Attack Jets for Air Force Fleet Renewal
