Nigeria lauds performance of three JF-17 Thunder jets bought from Pakistan

JF-17 Thunder aircraft is seen on display at Nigerian Air Force Base, Makudri on May 21, 2021. (Photo courtesy: DGPR Air Force)
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Updated 04 July 2021
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Nigeria lauds performance of three JF-17 Thunder jets bought from Pakistan

  • Islamabad had handed over three jets to Nigeria in May 
  • Nigerian president thanks Pakistan for its ‘consistent support’ in the war against terror 

ISLAMABAD: Nigeria’s military and political leadership have expressed “complete satisfaction” over the performance of three JF-17 Thunder fighter jets procured from Pakistan in May to modernize its air fleet, the military’s media wing said on Saturday night. 

“The JF-17 aircraft, with its unique fighting capabilities, would prove to be a potent platform in addressing the security requirements of Nigeria,” the Inter Services Public Relations agency (ISPR) said in a statement, quoting Pakistan’s Chairman Joint Chiefs of Staff Committee (CJCSC), General Nadeem Raza, after his meeting with Nigerian President Muhammadu Buhari. 

Gen. Raza, who is on an official visit to Nigeria, held separate meetings with a coterie of other officials to discuss “matters of bilateral and military cooperation including security, counter-terrorism and prevailing regional environment.” 

“[President Buhari] thanked Pakistan and its armed forces for their consistent support to Nigeria in its war against terrorism,” the statement said, adding that Gen. Raza also reiterated Pakistan’s keenness “to expand its existing bilateral military to military cooperation with Nigeria.” 

The JF-17 Thunder is a lightweight, multi-role fighter aircraft with its technology developed by China. 

Pakistan handed over the three aircraft to Nigeria during a ceremony on May 20 to mark the 57th anniversary of the Nigerian Air Force (NAF).

The induction marked a significant milestone for Pakistan’s aircraft industry and defense capabilities. Both the countries enjoy strong defense ties, with NAF officials attending military training in Pakistan over the years. 

 


Pakistan issues over $7 billion sukuk in 2025, nears 20 percent Shariah-compliant debt target

Updated 29 December 2025
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Pakistan issues over $7 billion sukuk in 2025, nears 20 percent Shariah-compliant debt target

  • Finance Adviser Khurram Schehzad says this was the highest-ever Sukuk issuance in a single calendar year since 2008
  • Pakistan’s Federal Shariat Court ordered in 2022 the entire banking system to transition to Islamic principles by 2027

ISLAMABAD: Pakistan’s Finance Adviser Khurram Schehzad on Monday said the country achieved a landmark breakthrough in Islamic finance by issuing over Rs2 trillion ($7 billion) sukuk this year, bringing it closer to its 20 percent Shariah-compliant debt target by Fiscal Year 2027-28.

A sukuk is an Islamic financial certificate, similar to a bond, but it complies with Shariah law, which forbids interest. Pakistan’s Federal Shariat Court (FSC) had directed the government in April 2022 to eliminate interest and align the country’s entire banking system with Islamic principles by 2027.

Following the ruling, the government and the State Bank of Pakistan (SBP) have undertaken a series of measures, including legal reforms and the issuance of sukuk to replace interest-based treasury bills and investment bonds.

“In 2025, the Ministry of Finance (MoF) through its Debt Management Office, together with its Joint Financial Advisers (JFAs), successfully issued over PKR 2 trillion in Sukuk,” Schehzad said on X, describing it as “the highest-ever Sukuk issuance in a single calendar year since 2008 by Pakistan.”

Pakistan made a total of 61 issuances across one-, three-, five- and 10-year tenors, according to the finance adviser. The country also successfully launched its first Green Sukuk, a Shariah-compliant bond designed to fund environment-friendly projects.

He said the Green Sukuk was 5.4 times oversubscribed, indicating investor demand was more than five times higher than the amount the government planned to raise, which showed strong market confidence.

“The rising share of Islamic instruments in the government’s domestic securities portfolio (domestic debt) underscores strong momentum, growing from 12.6 percent in June 2025 to around 14.5 percent by December 2025, clearly positioning the MoF to achieve its 20 percent Shariah-compliant debt target by FY28,” Schehzad said.

“This milestone also reflects the structural deepening of Pakistan’s Islamic capital market, sustained investor confidence, and the strengthening of sovereign debt management.”

He said Pakistan was strengthening its government securities market by making it more resilient, diversified, and future-ready, supported by a stabilizing macroeconomic environment, a disciplined debt strategy, and a clear roadmap for Islamic finance.