Nigeria’s cabinet has approved a borrowing plan of $618 million from a consortium of financiers to purchase six Italian-made M-346 attack jets along with ammunition for the country’s air force. This was revealed by the Information Minister Mohammed Idris on Wednesday.
Earlier this month, the Air Force announced plans to acquire 24 M-346 combat jets and 10 AW109 Trekker helicopters as part of its fleet renewal strategy.
The first three M-346 jets are anticipated to be delivered by early 2025, with additional deliveries scheduled to continue until mid-2026, as reported by the Air Force.
Nigeria has been facing a range of security challenges that have intensified in recent years. With issues like insurgency, banditry, and kidnapping on the rise, the country’s security situation is getting increasingly complex, and it’s costing a lot to deal with it all.
The Federal Government has allocated at least N63.6 billion for the purchase of various equipment and ammunition for the Nigerian military and the Office of the National Security Adviser from January to July 2024.
The Minister of State for Defence, Bello Matawalle, stated that the Armed Forces of Nigeria needs 200 million rounds of ammunition each year for its operations.
He indicated that this would cost the government around $2 per round and also criticized previous administrations for the country’s inability to achieve self-sufficiency in defence production.
