Strong indications are beginning to emerge that some politicians, especially those that lost in the just concluded general elections, are desperately looking for buyers for their private jets due to lack of funds to maintain them.
While the defeated politicians are seeking to dispose off their prized asset following a dip in their fortunes, some businessmen who own private jets are also said to be in the process of selling them for fear that the incoming Gen. Muhammadu Buhari government may plug avenues for easy cash on which they had relied in the last few years.
Private jet manufacturers and dealers have found a ready market in Nigeria and observers say Bombadier and Hawker Beechcraft Corporation, both jet manufacturers, have never had it so good.
The least of the aircraft goes for between $5 million and $10 million. A Bombardiar Global Express aircraft goes for $45 million (N6.75billion); Gulfstream V costs $30 million (N4.5billion); a Challenger Global 5000.
This aircraft, with a Rolls Royce engine, has a luxurious seating for 14 passengers and an interior that merits the description ‘palace in the air.’ It reportedly costs about $51m.
Overflying the Nigerian airspace today are some of the best and, of course, most expensive private jets these companies have on offer.
A senator, who owns a private jet but pleaded anonymity, said that the cost of maintaining a jet is huge and confirmed that some private jet owners were indeed planning to sell them because of the harsh economy.
“I tell you, it is not going to be business as usual as the President-elect, being a very prudent man, is going to tighten all the loose ends to cut expenditure and do a lot of projects. He is very austere in nature and this may affect politicians and other businessmen who allegedly got enriched by the government,” the source said.
Private jet owners in Nigeria reportedly spend at least $52.3m (N7.8bn) annually to maintain the planes and pay the expatriate pilots flying them because of the failure of the owners to register the jets locally.
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