Headlines

Chinese’s Zhongshan Releases Nigeria’s New Presidential Jet Detained Abroad

Chinese firm, Zhongshan, which secured a court order to confiscate three Nigerian presidential jets has released one of the jets to the Nigerian government.

BrandNewsDay reports that amidst uproar over the seized jets by the Chinese firm, Zhongshan has released one of the three Presidential jets it detained to the Nigerian government ahead of its travel to France.

According to the company, “Zhongshan has consistently sought to act reasonably and fairly in the course of a legal dispute with Nigeria which was not of its making,” the official told this newspaper Friday afternoon.

Advertisement

“It (Zhongshan) has now been made aware that an Airbus A330, currently detained in France as a result of a French court order obtained by Zhongshan, is needed for the President of the Federal Republic of Nigeria to travel to a scheduled meeting with President Macron of France early next week.

“As a gesture of goodwill, Zhongshan has lifted the seizure of that aircraft immediately. This will allow it to be used for the President’s trip.

“Zhongshan remains committed to talks with representatives of the Federal Government of Nigeria, this time serious and substantive on both sides, to reach a reasonable compromise settlement rapidly.”

Advertisement

The company, however, did not say when the two remaining aircraft being detained would be released.

Zhongshan officials had on Thursday told this PREMIUM TIMES that they were willing to negotiate with the Nigerian government to resolve the logjam that culminated in the seizure of the three aircraft.

PREMIUM TIMES had on Wednesday reported how a French court authorised the seizure of three presidential jets linked to the Federal Government of Nigeria.

Advertisement

The court order prohibits the jets’ movement, sale, or purchase until Zhongshan receives the awarded $74.5 million. Bailiffs have served papers for each aircraft.

Reacting in a statement on Thursday, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, described the French court’s order attaching Nigeria’s presidential jets as a result of the arm-twisting tactic by a Chinese company.

Mr Onanuga highlighted various efforts the federal government and the Ogun State government had made to resolve the matter.

Advertisement

RECOMMENDED: I Dress Better Than Tinubu; He Uses One Wristwatch Since I Met Him- Shettima

He said the Zhongshan “withheld vital information and misled” the French court in Paris into attaching the Nigerian government’s presidential jets.

He said the jets were on routine maintenance in France when the court order was issued.

“The use and nature of the Presidential jets as assets of a Sovereign entity whose assets are protected by diplomatic immunity forbid any foreign Court from issuing an order against them,” the statement said.

Advertisement

Background of the story

The Ogun State government and Zhongshan have been locked in a long-drawn battle over the management of an export processing zone in the South-west state.

On 29 June 2010, Zhuhai Zhongfu Industrial Group Co Ltd, the parent company of Zhongshan, and the Ogun Guangdong Free Trade Zone (OGFTZ) entered into a framework agreement on establishing Fucheng Industrial Park within the zone. The agreement gave Zhuhan the right to develop and run Fucheng Park within the zone.

The Nigeria Export Processing Zones Authority registered Zhongfu International Investment (NIG) FZE, a subsidiary of Zhongshan, as a free trade zone enterprise within the OGFZ in 2011. The Ogun State government later appointed Zhongfu as the interim manager/administrator of the zone.

Advertisement
Facebook Comments
Brand News Day

Recent Posts

Stanbic IBTC Bank Nigeria PMI: New Order Growth Sustained In March, But Higher Fuel Costs Lead To Surge In Prices

Stanbic IBTC Bank Nigeria PMI - Growth slowed in the Nigerian private sector at the…

3 weeks ago

LIRS Extends Deadline For Filing Individual Annual Returns To April 14, 2026

The Lagos State Internal Revenue Service (LIRS) has extended the deadline for filing individual annual…

3 weeks ago

Stanbic IBTC Hosts Maiden Nigeria Business Summit Aims To Drive Sustainable Growth Across Key Sectors

Stanbic IBTC, a leading financial services provider in Nigeria, successfully hosted the 2026 edition of…

3 weeks ago

WARC Global Advertising Trends: FIFA World Cup 2026 Predicted To Drive $10.5 Billion Surge In Ad Spend

The FIFA World Cup 2026 will be the biggest in the tournament’s history, hosted across…

1 month ago

Stanbic IBTC Economic Summit Delivers Strategic Framework For Navigating Nigeria’s 2026 Investment Landscape

Institutional investors, corporate leaders and economic experts gained practical insights into portfolio positioning at the…

2 months ago

BREAKING: President Tinubu Nominates Taiwo Oyedele As Minister Of State For Finance

President Tinubu has nominated the Presidential Committee on Fiscal Policy and Tax Reforms chairman, Mr…

2 months ago

This website uses cookies.