Presidential Jet: FG to purchase foreclosed aircraft from German Bank

The Federal Government is reportedly set to purchase a foreclosed aircraft from a German Bank as a presidential jet for President Bola Tinubu and his vice, Kassim Shettima.

PREMIUM TIMES reports that everything is in place for the FG to buy an Airbus A330 aircraft seized from an unnamed Arab prince and businessman who failed to pay back hundreds of millions of dollars he owed a German bank.

“The identified aircraft is said to be a repossessed one recovered from a troubled oil sheikh who used the aeroplane as collateral for a loan he obtained from an unidentified German bank to buy it,” PT said.

“Presidency officials have kept their lips shut about plans to buy a new presidential jet. However, this newspaper has obtained information that the government has already identified an aircraft for purchase but is scrambling for funds to consummate the transaction.

“Our sources said the bank repossessed the aircraft from the debtor businessman but found it challenging to sell due to its executive customisation.

“The aircraft is now in the possession of L & L International LLC, an American aviation firm based in Miami, Florida. L & L International LLC is trying to help the German bank sell it to the Nigerian government.”

According to the report, the multi-engine prestige jet has an elaborate VIP configuration and is said to be worth a staggering amount of $600 million.

PT, however, quoted its sources as saying that the FG would be paying “a little more than $100 million” but they are unsure if that offer is acceptable to L & L International LLC.

Meanwhile, Senate President, Godswill Akpabio, had earlier dismissed reports claiming that the 10th Senate is proposing the procurement of a new aircraft for Tinubu and Shettima.

In a statement last Tuesday, Akpabio’s media aide, Jackson Udom, quoted him addressing newsmen in Maiduguri, the Borno State capital, after leading a delegation to pay a condolence visit to Senator Tahir Monguno over his father’s death.

A fortnight ago, media reports suggested that Akpabio had commented that the Senate would approve the purchase of a new aircraft for the President and Vice President, despite the ongoing hunger crisis in Nigeria.

Akpabio described the report as the work of “propagandists and fifth columnists,” noting that the Senate is focused on delivering legislation to support President Tinubu’s Renewed Hope Agenda.

Expressing satisfaction with the current security situation in Borno State, Akpabio urged Nigerians to continue praying for the current administration.

“I want to dispel the rumour that you are hearing that the Senate President said he will buy a new plane for the President and his Vice, irrespective of the fact that Nigerians are hungry or whatever,” the statement read.

“I never said that. I was actually in Zanzibar, Tanzania. It is the handiwork of propagandists and fifth columnists, who never see anything good in what we are doing.

“Be rest assured, pray for the government, have patience and be assured that the combination of Tinubu and Shettima will bring wealth and prosperity to all.”