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Presidential Jet: A Billion-Naira Burden Amid National Hardship

February 20, 2024
in Business
Presidential Jet: A Billion-Naira Burden Amid National Hardship
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Amidst economic hardship, soaring prices, and security challenges, Nigeria’s presidential jet, Air Force 001, continues to consume billions of naira in maintenance costs.

This lavish expenditure on the jet, dedicated to President Bola Ahmed Tinubu, raises questions about fiscal prudence and national priorities.

According to a report by Daily Trust, the maintenance expenses for the presidential aircraft have become a significant financial burden.

A senior official, familiar with the fleet’s upkeep, revealed that routine servicing and parts acquisition for the aircraft are draining substantial funds.

Moreover, the official pointed out that the trend of high maintenance costs for the presidential fleet is not new.

Yet, the recommendation to demobilize the fleet by former Presidential Air Fleet Commander, AVM AA Yaro, seems to have gone unheeded.

Presidential jet

The Aging Air Force 001

The Air Force 001, a 737 Boeing Business Jet (BBJ), was purchased during the administration of former President Olusegun Obasanjo for $43 million.

Although the age of an aircraft does not directly impact its performance, maintenance costs increase over time.

This makes older aircraft more expensive to maintain than newer models. Furthermore, in the run-up to President Tinubu’s inauguration, the aircraft underwent comprehensive maintenance, adding to the financial strain.

Soaring Maintenance Bills

Sources disclosed to Daily Trust that the aircraft’s maintenance bills have exceeded $5 million, nearly half of the over $10 million liabilities inherited by the presidential fleet.

Consequently, the escalating costs have led to calls for the purchase of a new presidential jet. The General Secretary of the Society of Licensed Aircraft Maintenance Engineers (SLAMEN), Sheri Kyari, advocated for a new purchase.

He stated, “It is better for the government to buy a new one. How much is a brand-new aircraft? They should be able to get something much better from Boeing.”

Furthermore, a comparison with neighboring countries reveals that Nigeria’s presidential jet is relatively outdated.

Ivory Coast boasts two Gulfstream aircraft and utilizes A319 and A320 for extended journeys, while Senegal operates A320Neo and A319 along with other smaller jets.

The Presidential Jet Dilemma

An aircraft engineer, preferring anonymity, emphasized the president’s safety. He suggested reassessing the aircraft’s maintenance record before deciding on its future.

“The president is important,” the engineer stated. “We cannot micromanage his transport. He deserves better.”

The debate over Nigeria’s presidential jet highlights broader issues of national priorities and fiscal responsibility.

As the country faces economic and security challenges, spending billions on maintaining an aging aircraft raises questions about resource allocation.

Meanwhile, the government’s decision to either continue funding maintenance or invest in a new jet will attract attention from citizens and analysts. This decision is crucial for economic strategy and national interest.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : BusinessElitesAfrica – https://businesselitesafrica.com/2024/02/20/presidential-jet-a-billion-naira-burden-amid-national-hardship/

Tags: Billion-Nairabusinesspresidential
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