The Federal Government of Nigeria is actively working to resolve the ongoing dispute with Zhongshan Fucheng Industrial Investment, a Chinese firm, following the seizure of three Nigerian presidential jets by a French court.
The jets, located at Paris-Le Bourget and Basel-Mulhouse international airports, were ordered to be used as “security” for a claim of EUR 74,459,221 by the Chinese firm.
The dispute stems from a contract disagreement between Zhongshan and the Ogun State government over the management of a free trade zone.
The French court’s ruling, along with a recent decision by a U.S. appellate court, has complicated the situation for Nigeria.
The U.S. court ruled that Nigeria’s claim to sovereign immunity could not be upheld in this commercial venture, rejecting the country’s defense against enforcing a $70 million investment treaty award won by Zhongshan.
In response to the situation, Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs, confirmed that the government is actively engaging with the matter.
Speaking with reporters in Malabo, Equatorial Guinea, on Friday, Tuggar emphasized that both he and Lateef Fagbemi, the Attorney-General of the Federation (AGF) and Minister of Justice, are closely monitoring the developments and are committed to resolving the issue.
The Chinese company has indicated a willingness to release one of the seized jets as negotiations continue. The federal government is exploring all legal and diplomatic channels to address the dispute and prevent further escalation.
