It seemed almost like a scene from a Netflix comedy when the Nigerian government, through its Special Adviser on Information and Strategy, Bayo Onanuga, accused the Chinese company Zhongshan Fucheng Industrial Investment Co. Limited deception after a French court authorised the seizure of three Nigerian presidential jets. Two of these jets were undergoing routine maintenance, and the third had been purchased but not yet delivered. The Nigerian government disputes the legitimacy of Zhongshan’s claim against Ogun State, arguing that:
-the 2007 contract with the state government concerning free-trade zone management does not involve the Nigerian federal government;
-the dispute had already been resolved in Nigerian courts;
-the company failed to properly notify the Nigerian federal and state governments.
Zhongshan withheld crucial information and misled the French court into wrongly seizing the jets, which are protected by diplomatic immunity as sovereign assets.
Read also: Top 7 most expensive presidential jets worth $2.49bn
The Nigerian government’s comparison of this situation to the PI&D case and its argument that Zhongshan’s claim is part of a broader strategy by foreign entities to defraud Nigeria is sceptical, particularly given the ongoing trade war between China and the West. This conflict is largely centred on Africa’s resources, as both China and Western nations strive for global dominance in key technologies by 2025.
China, once a poor agrarian economy, has rapidly evolved into a global industrial powerhouse within just two generations. This remarkable transformation was driven by strategic initiatives, investments in research and development, and a strong focus on local production, which enabled China to lower costs and attract much of the world’s manufacturing to its shores and those of other Asian countries. By capitalising on globalisation and leveraging technological transfers from 20–30 years ago, China has emerged as a major competitor to the U.S. and now dominates much of the world’s production. However, China’s financing of African projects, which often includes conditions for asset forfeiture, is increasingly viewed as undermining Africa’s economic growth and development, even though these projects contribute to the continent’s structural transformation. The strategy of asset seizure might echo China’s tactics in recovering debts from African nations, where several strategic assets, such as the Mombasa Port in Kenya and the Hambantota Port in Sri Lanka, have been lost due to debt repayment conditions.
The seizure of Nigeria’s presidential jets in France could be seen as part of a broader strategy where foreign entities, akin to China, use questionable legal tactics to seize strategic assets in exchange for debt repayment. Nigeria is likely to continue facing such challenges, with foreign entities attempting to claim its assets both overseas and onshore. This concern is highlighted by the recent dismissal of Nigeria’s sovereign immunity claim by a U.S. court in favour of a $70 million award to a Chinese firm, the ongoing PI&D case in the UK, the current $5.16 billion debt owed to China as of the second half of last year, and the caution issued to sub-national entities, such as state governments, by the Minister of Foreign Affairs or the Federal Government, against engaging in foreign negotiations without proper oversight. The clear lesson is that if Nigeria continues to spend irresponsibly while in debt, it will remain vulnerable to losing strategic assets to foreign creditors.
Governance and infrastructure issues, rather than a lack of human capital, are the underlying reasons why Nigerian presidential jets are maintained or purchased abroad. This is similar to the brain drain seen in other sectors, such as Nigerian-American hammer thrower Annette Echikunwoke, who, after representing Nigeria in the 2020 Tokyo Olympics, later won a medal for the USA in 2024. Additionally, Nigerian-trained doctors and nurses are in high demand globally, with 67 percent working in the UK.
Read also: Nigeria has strong case to reclaim seized presidential jets — Ex-justice minister
At a time when international security risks and espionage are of growing concern, particularly between China and the West, Nigeria’s decision to have its presidential jets maintained or purchased abroad while describing them as sovereign assets appears questionable. This contrasts with the practices of leaders from major countries, who use vehicles made in their own nations, such as the U.S. President’s Cadillac One or the UK Prime Minister’s Jaguar XJ Sentinel.
In conclusion, had the funds spent on these jets been invested in strategic local assets and infrastructure, it could have fostered local development to the point where the presidential jets could be maintained or produced in Nigeria, avoiding the negative fallout of their seizure and demonstrating responsiveness to public demands. Nigeria needs to understand that the countries that produce are the ones that lend, emphasising the need to invest in infrastructure to become a producing nation.
ESV. Adeyemi Adebiyi, MSc., is a seasoned physical asset professional with nearly a decade of expertise in maintenance, management, and valuation. He’s experience in various capacities, including managerial and consulting roles, at reputable real estate firms and an Electricity Distribution company (DISCO). [email protected]
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
