Investigation: Over 100 private jets bought by Nigerians in 2012 alone

Over 100 private jets were imported into the country this year alone, as it has become a fad among rich Nigerians to own one, THE CITIZEN can authoritatively report.
According to a reliable source in the Federal Airport Authority of Nigeria (FAAN), this figure is aside of orders which will mature between 2013 and 2014.

He said that many young Nigerians have switched to purchase of jets as a sign of ‘big boy’.

Nigeria is a country with a huge gap between the rich and poor. While less than one per cent of the 167 million Nigerians are superrich, more than 60 per cent live on less than one dollar a day.

About 10 Nigerians are listed in Forbes’ club of world billionaires.
The source said that most of the jets are packed in Lagos, Abuja and Port Harcourt.

“The rate Nigerians buy these jets seems as if it is pure water. It is like competition among young lads. Many of the owners are not known either by their business or actions. It is said that most of them are for government officials and oil and gas Turks who got rich by moving papers in the petroleum industry,” he said.

According to aviation experts, some of the jets cost about $10m, while the high ranges like Bombardier costs from $20m upwards.

He said that the charges are even more sapping but the ‘boys’ appear unperturbed, though                                                   “most of them put them for hire by mostly bank MDs and state governors.

According industry watchers the spike said the number of private jets bought by Nigerians have increased because many rich persons have resorted to private jets as alternative to commercial airlines in the country due to security and safety issues.

“They  believe that flying on private jets are far safer than flying on commercial flights because they feel that feel that  private jets are better maintained than commercial aircraft,” an industry analyst rationalised.
He said, “You may have noticed that there is a drop on the number of rich people who fly first class on commercial flights.

“If you enter flights these days, you will not find any of the rich Nigerians in commercial flights because they are flying on private jets.”

This development has led many, including some sitting governors to ask the police and other crime agencies to investigate the sources of wealth of which they bought the private jets.

They wonder how many of them who do not have visible sources of income manage to own jets, many luxury cars, as well as live ostentatious life style.

Most of these jets are owned by top politicians, oil magnates and other business moguls in Nigeria. Before the meltdown of 2008, it had become fashionable for Nigerian chief executive of banks to own private jets.

A recent newspaper report showed that the economic downturn in Europe and the United States had made Nigeria and China to become two of the fastest growing private jet markets in the world.

He said, “Two countries buying private jets now are China and Nigeria. Europe and America are going through turmoil; so, their people are no more buying. This accounts for the trend that whenever some of the private jet manufacturers develop any new jet, they take them to Nigeria and China.”

“It is difficult to get the real identities of owners of some of the private jets in Nigeria because they buy them through some foreign companies in North America, especially the US. The foreign company then leases it to another company in Nigeria.”

Attempts to reach the General Manager, Public Relations, Federal Airport Authority of Nigeria, Mr. Akin Olukunle on phone proved abortive.

But an official of the agency, who refused to be identified because he is not in a position to speak on the matter, confirmed that many Nigerians have been registering their jets. He would not confirm they are 100 or more or less.