Nigeria Approves Massive Military Loan
Nigeria’s Federal Executive Council approved a ₦1.02 trillion loan to strengthen military capacity with M-346 attack jets. The government is acquiring six Italian-made jets and ammunition to address security threats. Information Minister Mohammed Idris announced the decision on Wednesday. This move highlights the government’s focus on resolving Nigeria’s ongoing security challenges.
Fighter Jets and Helicopters to Arrive Soon
The deal involves acquiring six fighter jets and 10 AW109 Trekker helicopters for the Nigerian air force. The first three jets will be delivered by early 2025, with the rest arriving by mid-2026. This purchase is part of the air force’s plan to expand its fleet with 24 M-346 jets. The acquisition is essential in addressing the country’s growing insurgency and banditry.
Ongoing Security Challenges
The loan comes as Nigeria faces growing security issues, including Boko Haram insurgency, banditry, and widespread kidnappings. According to a report from SBM Intelligence, over 7,500 people were abducted across the country between July 2023 and June 2024. These security threats have intensified under the current administration, prompting the need for enhanced military resources.
Military Expenditure on the Rise
The Nigerian government allocated ₦105.3 billion for military hardware and ammunition purchases between January and July 2024. The Defence Minister stated that the armed forces need 200 million rounds of ammunition annually. This requirement costs around ₦3.3 trillion, or $2 per round. The figures highlight the escalating defence spending in Nigeria.
Strengthening National Defence
Despite the increased military expenditure, Nigeria continues to struggle with ongoing insurgencies. The government hopes that the acquisition of advanced military equipment, such as the M-346 jets, will provide the necessary tools to curb the nation’s security issues. The ongoing investment in military hardware signals the administration’s commitment to restoring peace and stability.
Outlook for Nigeria’s Security
While the purchase of these jets and helicopters is expected to strengthen Nigeria’s military, the effectiveness of this investment in quelling insurgency and improving security remains to be seen. With the first jets arriving in 2025, Nigerians await tangible improvements in national security as the government intensifies its efforts to protect citizens.
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