Nigerians top list of private jet owners in Africa

Bombardier Global Jet

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.

Read more... http://businessnews.com.ng/2012/10/29/nigerians-top-list-of-private-jet-owners-in-africa-spend-n1-3-trillion-on-wonders-on-wings/

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