Nigeria’s Cabinet Approves Borrowing ₦1 Trillion for Italian-made Fighter Jets and Ammunition

Nigeria’s Federal Executive Council has approved a ₦1.02 trillion ($618 million) loan to purchase six Italian-made M-346 attack jets and ammunition for the air force. This was made known on Wednesday by Information Minister Mohammed Idris. The acquisition also includes 10 AW109 Trekker helicopters.

The first three jets are expected to arrive by early 2025, with the rest delivered by mid-2026. Earlier this month, the air force announced plans to acquire 24 M-346 combat jets and other military hardware. The security challenges across the country was cited as the reason for this plan.

From January to July 2024, the government allocated ₦105.3 billion ($63.6 million) for military equipment and ammunition purchases. The Defence Minister also noted the armed forces need 200 million rounds of ammunition annually, costing about ₦3.3 trillion ($2 per round).

Despite increasing spending on military equipment, Nigeria continues to struggle with insurgency, banditry, and kidnapping, which have worsened under the current administration. According to a recent report published by SBM Intelligence, kidnappers in Nigeria abducted over 7,500 people across the country between July 2023 and June 2024. Persistent Boko Haram insurgency, banditry and terrorism also continue to plague citizens.

Notably also, the purchase of the M-346 attack jets is being made from Leonardo SpA, an Italian defense manufacturer subject to Italian laws and regulations. As Italy is a NATO member state, any military equipment sold to Nigeria is also governed by NATO’s terms and conditions. This means that if Nigeria were to experience a diplomatic fallout with the United States or other NATO allies, it could face significant restrictions on the use of these jets. For instance, NATO can impose sanctions that would limit Nigeria’s ability to operate or maintain the aircraft, effectively turning these expensive assets into liabilities.

Moreover, Nigeria’s recent partnership with BRICS could complicate the acquisition due to escalating tensions between BRICS and NATO. If Nigeria strengthens ties with BRICS by becoming a full member, the country may be hit with NATO’s restrictions, which could affect the operation and support of the jets amongst other things.

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