The Nigerian government spent at least N19.43 billion on the maintenance and operations of the Presidential Air Fleet from July 2023 to September 2024. This information was obtained from GovSpend, a civic tech platform that tracks and analyzes government spending.
Breakdown of Expenses:
- Total spent from July 2023 to September 2024: N19.43 billion
- 2024 payouts: N13.55 billion (66% of the allocations for the fleet in the 2024 fiscal year)
- Forex Transit Funds: Used to cover expenses related to operations outside the country, including fuel purchases, maintenance, or services in foreign currencies
Notable Transactions:
- July 2023: N1.52 billion disbursed in two tranches for ‘Presidential air fleet forex transit funds’
- August 2023: N3.1 billion disbursed in three tranches
- November 2023: N1.26 billion released to the Presidential Air Fleet naira transit account
- March 2024: N2.54 billion disbursed in two tranches
- April 2024: N6.35 billion received by the transit account
New Aircraft Acquisition:
The Presidential Air Fleet recently acquired an Airbus A330, valued at $100 million, to replace the 19-year-old Boeing 737 business jet. The new aircraft is expected to save Nigeria millions of dollars in maintenance and fuel costs yearly. According to Mr. Bayo Onanuga, Special Adviser on Information and Strategy to President Tinubu, the new plane will prioritize the president’s safety and is a refurbished model, not brand new.
