Zhongshan, the Chinese company at the centre of a dispute with the Nigerian government over the seizure of three presidential jets, has announced the release of one of the three jets.

The move comes as President Bola Tinubu prepares for a scheduled meeting with French President Emmanuel Macron.

The seized jets, including a Dassault Falcon 7X, a Boeing 737-7N6/BBJ, and an Airbus A330-243, were taken possession of by Zhongshan Fucheng Industrial Investment Co. Limited following a contract dispute with the Ogun state government. The contract, signed in 2013, aimed to develop a free trade area, with Zhongfu owning 60% of the joint venture.

However, the company alleged that Ogun state backed out of the deal, leading to a “campaign of illegal acts” against them. Zhongshan initiated arbitration proceedings against Nigeria in 2018, resulting in a $70mn damages award in 2021, which has grown to $81mn with interest.

In a fresh development, Zhongshan has released the Airbus A330, allowing President Tinubu to use it for his upcoming trip.

The company spokesperson stated, “Zhongshan has consistently sought to act reasonably and fairly in the course of a legal dispute with Nigeria which was not of its making.

“It 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.”