President's 11th aircraft is here

The Presidency has made a proposal for an upfront deposit of N1.5billion for a brand new private jet, which will become the Presidential Air Fleet’s (PAF) 11th aircraft. This figure is contained in the details of the 2014 Appropriation Bill presented to the National Assembly by President Goodluck Jonathan through the Minister of Finance, Dr. Ngozi Okonjo-Iweala. The Federal Government has budgeted another N1.52b for the maintenance of the 10 aircraft currently in the PAF in 2014 and it is now set to spend just about that amount on a new one. This prodigious squandering of taxpayers’ money is reckless and unacceptable.

The PAF already boasts two Falcon 7X jets, two Falcon 900 jets, Gulfstream 550, one Boeing 737 BBJ (Nigerian Air Force 001 or Eagle One), and Gulfstream IVSP. Others are one Gulfstream V, Cessna Citation 2 aircraft and Hawker Siddley 125-800 jet. The combined estimated value of the PAF is about $390.5m (N60.53bn). According to industry experts, it costs a minimum of 20 per cent of that figure to maintain them annually. So we’re looking at about $58.57m (N9.08bn) yearly for maintenance. Private jets are money guzzlers either in the air or on land.

The proclivity of this administration for frivolous spending is well documented.  The government has been severely criticised in the past for the colossal amount of embezzlement, rip-off and wastage that have been its hallmark. The rationale behind this new aircraft in the PAF must be condemned .

-punch