The Federal Executive Council (FEC) has approved a loan of approximately $618 million from a group of financiers for the Nigerian Air Force to acquire six fighter aircraft and ammunition.
Minister of Information and National Orientation, Mohammed Idris, announced this decision on Wednesday in Abuja following the FEC meeting chaired by President Bola Tinubu.
In addition to the aircraft procurement, the FEC also approved N740 billion for the Berger stretch of the Abuja-Kano route, along with several other significant road projects. Idris, representing the Minister of Finance, Wale Edun, who is currently on official duty in the United States, detailed other approvals, including contracts for the Nigerian Customs Service and an agreement with Hong Kong to eliminate double taxation and prevent tax evasion.
