A total of ₦19.43 billion has been spent by the FG on the Presidential fleet over the past 15 months
The Nigerian government reportedly spent about ₦19.43 billion on the upkeep and operation of the Presidential Air Fleet between July 2023 and September 2024. According to GovSpend, a platform that tracks government spending, ₦13.55 billion of this amount was spent in 2024, which represents 66% of the fleet’s budget.
A large part of these expenses, referred to as “Forex Transit Funds,” was used to cover costs for fuel and maintenance for aircraft stationed outside Nigeria. A government official explained that foreign payments in U.S. dollars or other currencies are necessary to keep the fleet running smoothly when it’s abroad.
In July 2023, ₦1.52 billion was allocated for foreign currency expenses, with two separate payments of ₦846 million and ₦675 million. In August, the amount increased to ₦3.1 billion, split into three payments. Payments continued into later months, including ₦5.6 billion spread across six transactions in August 2024. During President Bola Tinubu’s overseas trip in April, which included stops in the Netherlands and Saudi Arabia, ₦5.08 billion was spent.
Initially, Tinubu traveled in a government-owned Gulfstream G550 jet, but due to a technical issue, a private jet had to be chartered for the Saudi Arabia leg of the trip. The president’s Boeing 737 was also under maintenance at the time.
In August 2024, the fleet received a new Airbus A330 worth $100 million, purchased as part of an upgrade to replace the older Boeing 737. This aircraft is equipped with modern technology and is expected to reduce maintenance and fuel costs.
The Presidential Air Fleet now has around 11 aircraft, including older models like a 19-year-old Boeing 737-700 and a 13-year-old Gulfstream G550. The Boeing 737, which was bought during President Obasanjo’s time, had become too expensive to maintain.
Bayo Onanuga, the Special Adviser on Information and Strategy, explained that the Airbus A330 was for national interest, not personal luxury. He clarified that the aircraft was a refurbished model, not new, and was in better condition than the one used by former President Buhari. Onanuga emphasized the importance of the president’s safety and the need for reliable, modern planes to avoid any potential accidents.
National Security Adviser Nuhu Ribadu supported the decision, stating that the high cost of maintaining the old Boeing 737 made the new purchase necessary. The Presidential Air Fleet also includes a Gulfstream G500, two Falcon 7Xs, a Hawker 4000, and a Challenger 605, as well as rotor-wing aircraft operated by the Nigerian Air Force. Currently, three of the seven fixed-wing planes are out of service.
