A Chinese company, Zhongshan Fucheng Industrial Investment Co. Ltd, has agreed to release one of Nigeria’s seized presidential jets, an Airbus A330, so that President Bola Tinubu can travel to meet French President Emmanuel Macron.
This decision follows a French court ruling that led to the seizure of three Nigerian presidential jets due to a contract dispute between Zhongshan and the Ogun state government. The court determined that the jets would serve as “security” for Zhongshan’s $74.5 million claim.
The dispute stems from a 2010 agreement in which Zhongshan obtained rights to develop a free-trade zone in Ogun state, a contract that was later revoked by the state government in 2016. After arbitration proceedings awarded Zhongshan $74.5 million, Nigeria attempted to block the payment by claiming sovereign immunity, but a U.S. appeals court rejected this claim, allowing Zhongshan to pursue enforcement of the award.
A spokesperson for Zhongshan stated that the company has “consistently sought to act reasonably and fairly” throughout the dispute and lifted the seizure as a “gesture of goodwill” to enable President Tinubu’s travel. However, the company did not specify when the other two seized jets would be released.
—Ezinwanne Onwuka reports for TruthNigeria from Abuja.
