According to an Encomium magazine
report, wealthy Nigerians spend close to
35 billion Naira on maintenance of their
private jets. Find the full report below…
Wealthy Nigerians are living large, with
the richest among us shelling out billions
of naira on private jets and their
maintenance.
Interestingly, the 250 private jet owners
in Nigeria splash an average of N34.9
billion annually to maintain their
expensive toys. Encomium Weekly’s check
revealed that aside splashing over N1.8
trillion to acquire their jets, they spend
an estimated N9 billion annually as
salary to their expatriate pilots and
N900 million annually to the crew, while
a whopping N25 billion is splashed on
general maintenance annually by them.
Continue..
Information available to Encomium
revealed that two expatriates usually
man these toys and their take home
monthly salary is N1.5 million. That
means an average of 500 pilots are in
charge of the wheel of these jets. Thus,
monthly, the 250 jet owners squander
over N750 million and that equals N9
billion annually.
Also, an average of three cabin crew
members are usually on board and their
monthly take home pay is averagely
N100,000. Thus, an average of 750 crew
members are on the payroll of these
wealthy Nigerians and they splash an
average of N75 million and their
monthly salary and N900 million
annually.
Furthermore, an estimated N100 million
is expended on each jet annually for
maintenance home and abroad. These
includes daily landing and parking fees
home and abroad, A and B checks mostly
in the USA, several millions on jet fuel,
amongst others.
Nigeria has now taken the front seat in
the business of private jet ownership
which is now a trend and competition
among the rich in the country.
More exciting revelations have emerged
that the penchant for private jet
acquisition has cost wealthy Nigerians
over N1.8 trillion aside the several
billions used to maintain them annually.
Investigation by EWy revealed that
about 250 private jets are currently
owned by them. The luxury trend
actually rose by 700 percent between
2007 and 2014 and this has increased
the rate of private jet acquisition from
20 in 2007 to over 250 in 2014, which has
placed Nigeria and China as the fastest
growing private jet markets in the world.
Aircraft manufacturers like
Bombardier, Gulf Stream, Embraer,
Hawker Siddley and Challenger have
made Nigeria their huge market because
of the demand for these aircraft types.
The common brands of private jets in
Nigeria are Hawker Siddley 125-800 and
900XP, Gulfstream 450, 550 and 650;
Bombardier Challenger 604, 605; Global
Express; Embraer Legacy and Falcons.
The state-of-the-art private jets being
flown by business moguls, pastors,
politicians and public office holders in
the country are made by one of these
manufacturers.
Checks by us revealed that Bombardier
jets lead the pack wirh over 108
varieties, Gulfstreams followed with an
average of 70 jets, Hawker followed suit
with 40, while Falcon is becoming a
common trend with about 30 pieces and
the most expensive being Gulfstream
G650 with just two of its type in Nigeria.
“The Regional Vice-President, Sales,
Middle East, Africa and Turkey,
Bombardier Business Aircraft, the
Canada-based aircraft manufacturing
firm, Mr. Khadar Mattar, was reported
to have admitted the private jet market
in Nigeria as currently “booming.”
According to our investigation, an
average Bombardier jet goes for
N8billion. Thus, 108 pieces will total N800
billion. Gulfstream is N7.2 billion now
and 70 of that is N507.5 billion. Hawker
jet is N4.8 billion and 40 of that would
be N192 billion. Falcon X7 being
expensive is N8.2billion and 30 of that
goes for N247.5 billion. The most
expensive of them is Gulfstream G650
which is valued at N11.5 billion and two
of that is N23 billion. Thus the total is
N1.8 trillion.
According to our source, most of the jets
arrived at Evergreen Apple Hangar,
Executive Hanger and other private
hangars. The four major airports where
there is a boom in private jet flights are
Abuja, Kano, Kaduna and majorly
Lagos. It was revealed that the flights
are predominantly plying Europe and
America. In Africa, the movements are
actually to Ghana, the Gambia,
Equatorial Guinea, Uganda and South
Africa. We have it on good authority
that over 70 percent of these jets bear
foreign registration numbers and were
being used for commercial purposes
indirectly. Industry sources squealed
that the alarming rate at which business
executives fly private jets within and
outside the country revealed the
indirect commercial usage of private jets
by wealthy Nigerians and a lot of them
have more than one jet.
They allegedly declared one officially
which they registered in Nigeria and
another one they acquired but registered
with foreign names. They use these ones
to fly individuals and corporate
executives. It was learnt that this trend
informed the unpopular Federal
Government aviation policy in 2013,
which stipulated that for a private
aircraft owned or leased by individuals,
only the family members of the owner
will be permitted on board as
passengers.
report, wealthy Nigerians spend close to
35 billion Naira on maintenance of their
private jets. Find the full report below…
Wealthy Nigerians are living large, with
the richest among us shelling out billions
of naira on private jets and their
maintenance.
Interestingly, the 250 private jet owners
in Nigeria splash an average of N34.9
billion annually to maintain their
expensive toys. Encomium Weekly’s check
revealed that aside splashing over N1.8
trillion to acquire their jets, they spend
an estimated N9 billion annually as
salary to their expatriate pilots and
N900 million annually to the crew, while
a whopping N25 billion is splashed on
general maintenance annually by them.
Continue..
Information available to Encomium
revealed that two expatriates usually
man these toys and their take home
monthly salary is N1.5 million. That
means an average of 500 pilots are in
charge of the wheel of these jets. Thus,
monthly, the 250 jet owners squander
over N750 million and that equals N9
billion annually.
Also, an average of three cabin crew
members are usually on board and their
monthly take home pay is averagely
N100,000. Thus, an average of 750 crew
members are on the payroll of these
wealthy Nigerians and they splash an
average of N75 million and their
monthly salary and N900 million
annually.
Furthermore, an estimated N100 million
is expended on each jet annually for
maintenance home and abroad. These
includes daily landing and parking fees
home and abroad, A and B checks mostly
in the USA, several millions on jet fuel,
amongst others.
Nigeria has now taken the front seat in
the business of private jet ownership
which is now a trend and competition
among the rich in the country.
More exciting revelations have emerged
that the penchant for private jet
acquisition has cost wealthy Nigerians
over N1.8 trillion aside the several
billions used to maintain them annually.
Investigation by EWy revealed that
about 250 private jets are currently
owned by them. The luxury trend
actually rose by 700 percent between
2007 and 2014 and this has increased
the rate of private jet acquisition from
20 in 2007 to over 250 in 2014, which has
placed Nigeria and China as the fastest
growing private jet markets in the world.
Aircraft manufacturers like
Bombardier, Gulf Stream, Embraer,
Hawker Siddley and Challenger have
made Nigeria their huge market because
of the demand for these aircraft types.
The common brands of private jets in
Nigeria are Hawker Siddley 125-800 and
900XP, Gulfstream 450, 550 and 650;
Bombardier Challenger 604, 605; Global
Express; Embraer Legacy and Falcons.
The state-of-the-art private jets being
flown by business moguls, pastors,
politicians and public office holders in
the country are made by one of these
manufacturers.
Checks by us revealed that Bombardier
jets lead the pack wirh over 108
varieties, Gulfstreams followed with an
average of 70 jets, Hawker followed suit
with 40, while Falcon is becoming a
common trend with about 30 pieces and
the most expensive being Gulfstream
G650 with just two of its type in Nigeria.
“The Regional Vice-President, Sales,
Middle East, Africa and Turkey,
Bombardier Business Aircraft, the
Canada-based aircraft manufacturing
firm, Mr. Khadar Mattar, was reported
to have admitted the private jet market
in Nigeria as currently “booming.”
According to our investigation, an
average Bombardier jet goes for
N8billion. Thus, 108 pieces will total N800
billion. Gulfstream is N7.2 billion now
and 70 of that is N507.5 billion. Hawker
jet is N4.8 billion and 40 of that would
be N192 billion. Falcon X7 being
expensive is N8.2billion and 30 of that
goes for N247.5 billion. The most
expensive of them is Gulfstream G650
which is valued at N11.5 billion and two
of that is N23 billion. Thus the total is
N1.8 trillion.
According to our source, most of the jets
arrived at Evergreen Apple Hangar,
Executive Hanger and other private
hangars. The four major airports where
there is a boom in private jet flights are
Abuja, Kano, Kaduna and majorly
Lagos. It was revealed that the flights
are predominantly plying Europe and
America. In Africa, the movements are
actually to Ghana, the Gambia,
Equatorial Guinea, Uganda and South
Africa. We have it on good authority
that over 70 percent of these jets bear
foreign registration numbers and were
being used for commercial purposes
indirectly. Industry sources squealed
that the alarming rate at which business
executives fly private jets within and
outside the country revealed the
indirect commercial usage of private jets
by wealthy Nigerians and a lot of them
have more than one jet.
They allegedly declared one officially
which they registered in Nigeria and
another one they acquired but registered
with foreign names. They use these ones
to fly individuals and corporate
executives. It was learnt that this trend
informed the unpopular Federal
Government aviation policy in 2013,
which stipulated that for a private
aircraft owned or leased by individuals,
only the family members of the owner
will be permitted on board as
passengers.
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