Nigerians top list of private jet owners in Africa

WITH Nigeria holding the record of a country with the highest private jet ownership in Africa, the aviation sector has brought into sharp relief the paradox of a nation that is endowed with huge oil resources but where only a few are wealthy.

In a country where the average Nigerian lives on less than $1 a day, there is a super rich class of business moguls, bankers, preachers, politicians and oil magnates whose private ownership of jets is more than that of any other country.

While the rich can afford such luxuries, the economic crisis in the nation is seen in a situation where the aviation sector needs financial succour from the Federal Government.

Indeed, worried about the critical state of the nation’s aviation industry, the Federal Government is proposing a fresh round of intervention for airlines.

The new intervention fund would be different from the N100 billion given to airlines three years ago to help them boost their operations.

While some judiciously used the funds, others reportedly diverted them.

Also, government has ensured that access to the funds from the Central Bank of Nigeria (CBN) would be on the basis of a single digit interest and it is for a long term.

A top official of the Nigerian Civil Aviation Authority (NCAA) told The Guardian that the ownership of the state-of-the-art jets in Nigeria had grown to over 200 in 2012 from 50 in 2008.

Governor Rotimi Amaechi of Rivers State had on October 7, 2012 acquired a brand new Bombardier Global 5000 (N565RS) for his exclusive use. He is said to glide all over Rivers State while holding the throttle levers himself.

The jet was primarily bought from Bombardier in Canada for $45.7 million through the Bank of Utah Trustee account.

Sources said Amaechi traded off the state’s current Embraer Legacy 600, saying it was too expensive to maintain. The sources said $5 million was added to the proceed of the traded plane that enabled the government to buy the latest airplane.

The oil-rich Rivers State already owns an AW139 helicopter, which it leased to a commercial airliner. The state then turned around to patronize the airline’s VIP Sikorsky S76C helicopter.

Last year, the state government sold its Dash 8-Q200 aircraft to Cross River State for $6 million. Cross River State then leased the plane to Aero Contractors to undertake commercial flights to and from Obudu airstrip in the state.

Amaechi is just one of many state chief executives that own airplanes.

Source:vanguard