The Nigerian Federal Government spent N19.43 billion on the Presidential Air Fleet from July 2023 to September 2024. This amount covers maintenance and operational costs, mostly for foreign currency transactions. These funds ensure the fleet’s readiness for both domestic and international use. This expenditure represents 66% of the entire 2024 allocation for the air fleet, with costs projected to rise further.
Forex Transit Funds Dominate Spending
A large part of the expenditure goes to ‘Forex Transit Funds,’ covering foreign currency needs for international presidential flights. These funds allow payments in foreign currencies for fuel, maintenance, and services abroad. An official confirmed that these transactions are crucial for seamless overseas operations. Currency fluctuations significantly affect these expenses, impacting the overall cost.
Detailed Breakdown of Disbursements
The spending pattern shows a substantial monthly disbursement, with some months seeing releases as high as N5.6 billion. Notably, in April 2024, the fleet’s transit account received N6.35 billion, just before President Bola Tinubu’s tour of the Netherlands and Saudi Arabia. Technical issues with Tinubu’s Gulfstream G550, which required him to charter a private plane, underscored the fleet’s maintenance demands. The ageing fleet has faced persistent challenges, prompting discussions about fleet upgrades.
Acquisition of Airbus A330 Sparks Debate
In August, the government added a $100 million Airbus A330 to the fleet, a refurbished model acquired to address maintenance and fuel efficiency issues linked to the older aircraft. According to Tinubu’s adviser, this acquisition aims to reduce long-term costs, but it has also stirred debate about government spending. The newly acquired aircraft is part of one of Africa’s largest presidential fleets, which includes various models, some nearly two decades old, acquired during past administrations.
Economic and Security Concerns Influence Costs
Experts link the high costs to the aircraft’s age, currency fluctuations, and increased security threats, which raise insurance premiums. Aviation analyst Olumide Ohunayo highlighted Nigeria’s security challenges and naira devaluation as key expense drivers. Dollar-based costs for foreign parts and personnel training add to the financial burden. He added that older planes incur higher maintenance costs, further pressuring the already stretched budget.
Calls for Frugality Amid Public Concern
While the government maintains that the fleet serves the nation’s interests, critics argue for frugality, pointing to the economic hardships faced by Nigerians. Debo Adeniran of the Centre for Anti-Corruption and Open Leadership questioned the administration’s spending priorities. As Nigerians face economic challenges, Adeniran urged leaders to consider frugal policies, suggesting that any expenses related to the Presidential Air Fleet should align with the needs and expectations of the populace.
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