‘Cost Of New Presidential Jet To Be Included In 2024 Supplementary Budget’

The Nigerian government has signalled its intention to purchase a new presidential jet, an initiative set to be included in the 2024 supplementary budget, sources close to TheCable have revealed.

This decision follows a series of mishaps involving the current presidential fleet, highlighting the need for newer, more reliable aircraft.

In a notable incident in April, President Bola Tinubu was forced to switch to a commercial aircraft for his journey to the World Economic Forum in Riyadh after the presidential jet he used to travel to The Netherlands encountered technical difficulties.

Around the same period, Vice-President Kashim Shettima experienced similar troubles, having to return mid-air to Nigeria from a trip to the US due to an engine fault in his chartered aircraft.

In response to these recurring issues, the federal government has initiated the sale of three ageing aircraft from the presidential air fleet, managed by the Presidential Air Fleet (PAF) division of the Office of the National Security Adviser (NSA).

The current fleet includes a range of aircraft models, such as the Boeing 737 Boeing Business Jet (BBJ), Gulfstream G550, and Falcon 7x, among others.

Despite recommendations from two national assembly committees advocating the purchase of two new aircraft for the President and Vice-President, it has been decided that only one new jet will be included in the upcoming supplementary budget.

This budget, as stated by Atiku Bagudu, the Minister of Budget and Economic Planning, in early June, will be financed through the Presidential Infrastructure Development Fund (PIDF) housed in the National Sovereign Wealth Investment Authority (NSWIA).

Apart from the presidential jet, the supplementary budget will also allocate funds for critical infrastructure projects such as the Lagos-Calabar coastal road and various rail projects across the country, aiming to bolster Nigeria’s transport network and stimulate economic growth.