Presidential Fleet Costs Nigeria N19bn in 15 Months

Written by Jerry Alomatu on November 12, 2024

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Between July 2023 and September 2024, approximately N19.43bn was spent on maintaining and operating Nigeria’s Presidential Air Fleet (PAF), according to The PUNCH, using data from GovSpend, a platform that tracks government expenditures.

For 2024 alone, N13.55bn was disbursed, accounting for 66% of the yearly budget for the fleet. The majority of these funds were allocated under ‘Forex Transit Funds,’ which cover international operation costs such as fuel and maintenance in foreign currencies.

A government official explained that payments for overseas operations are often made in foreign currencies to maintain uninterrupted service.

In mid-2024, during President Tinubu’s visits to the Netherlands and Saudi Arabia, issues arose with the Gulfstream G550 jet, prompting him to continue his trip on a chartered plane.

The President’s Boeing 737 business jet was under maintenance at that time, leading to the purchase of a refurbished Airbus A330 for $100m, justified by presidential aides as a cost-saving measure.

Bayo Onanuga, Special Adviser on Information and Strategy, emphasized that the new Airbus, although previously used, would reduce long-term fuel and maintenance expenses. He defended the decision by stating that ensuring the President’s safety and operational efficiency benefits all Nigerians.

Despite earlier promises from former President Buhari to downsize the fleet, running costs have increased significantly over the years, with the budget for the fleet climbing from N4.37bn in 2017 to N20.52bn in 2024.