- The government plans to sell three presidential aircraft to fund a new jet for President Tinubu, with support from the National Assembly
- Jet HQ has been appointed to sell the Boeing Business Jet, one Gulfstream, and one Falcon 7X, raising at least $50 million
The federal government plans to sell three aircraft from the presidential fleet to fund the purchase of a new jet for President Bola Ahmed Tinubu. This decision comes as the Presidency progresses towards acquiring a new presidential aircraft.
The National Assembly recently supported this move after the House of Representatives Committee on National Security and Intelligence recommended purchasing new aircraft for the president’s safety. In May, the House of Representatives directed the committee to investigate the state of the presidential air fleet following reports of the president using chartered flights due to a fault in the popular 001 jet.
In its report, the committee stated, “Considering the fragile structure of the Nigerian federation and recognizing the dire consequences of any potential mishap from the technical or operational inadequacy of the presidential air fleet, it is in the country’s best interest to procure two additional aircraft as recommended. This will also prove cost-efficient in the long run, apart from providing a suitable, comfortable, and safe carrier for the president and vice-president.”
Multiple sources within the Presidency revealed that the government decided to sell three aircraft to help fund the new purchase. Jet HQ, a global aircraft sales company, has been appointed as the agent to sell these jets.
The presidential fleet includes six aircraft and six helicopters. The aircraft comprises one Boeing Business Jet (BBJ), one Gulfstream G550, one Gulfstream GV, two Falcon 7Xs, and Challenger CL605. The three aircraft being put up for sale are the BBJ, one Gulfstream, and one Falcon 7X.
A used Boeing Business Jet is estimated to cost between $25 million to $41 million, depending on its flight hours and landings. A used Gulfstream is priced between $12 million to $15 million. An aviation expert suggested the government could raise at least $50 million from selling these three aircraft.
The Presidency is considering purchasing an Airbus aircraft. Discussions on this acquisition have reached an advanced stage. “The Presidency is planning to buy an Airbus aircraft, likely due to our renewed relationship with Airbus and its growing presence in Nigeria, competing with Boeing. Detailed plans for the new purchase will be available soon,” said a source who requested anonymity.