They are one of only a half dozen active 'privately owned' professional clubs in Nigeria (not owned by state governments).
They were the first winners of the Nigerian League in 1972. They played at the top level until 1985. They were further demoted to the third division in 1994, spending three seasons there before promoted back to the second division in 1997. The Jets' last time in the Premier League was a one-year stint in 2004. They finished at the bottom of the 18-team table with 28 points (7 wins, 7 ties and 20 losses) and then lost a promotion playoff against rivals Wikki Tourists when the league expanded to 20 teams. The season was worsened by their banishment to Owerri the last half of the season after crowd trouble. With a new board of directors in place in 2016, the club is targeting promotion to the Nigeria Premier League. Some of Mighty Jets former players  now play in the Nigeria Premier League.