In a bid to cut the cost of governance, President Tinubu’s has announced plans to divest three aircraft from the Presidential Air Fleet (PAF), a senior official revealed over the weekend.
This strategic move forms part of the administration’s wider efforts to streamline government expenditure. Presently, the fleet comprises a total of 10 aircraft, including six jets and four helicopters, with intentions to reduce the fleet to seven through the proposed sale.
This decision mirrors a previous attempt made during the tenure of President Muhammadu Buhari to sell off two aircraft in the fleet, namely a Dassault Falcon 7x executive jet and a Beechcraft Hawker 4000 business jet, back in October 2016.
However, the sale faltered after preferred bidders revised their offer from $24 million to $11 million, a sum rejected by the government at the time.
To alleviate the burden of maintenance costs, the administration had explored alternative avenues, including the possibility of chartering some of the aircraft to interested governors to generate revenue.
The fleet comprises various aircraft models, including Boeing Business Jets (BBJ) 737, Gulfstream G550, Gulfstream G500, Falcon 7X, HS 4000, Agusta 139, and Agusta 101. Notably, the BBJ 737 serves as the Nigerian Air Force One, exclusively utilized by the President for official travel.
While specific details regarding the replacement of the BBJ 737 remain undisclosed, it is noteworthy that the aircraft was acquired for approximately $43 million during the tenure of President Olusegun Obasanjo.
Escalating concerns over maintenance costs, which have soared to over $5 million in recent months, have prompted President Tinubu to take decisive action. The decision to divest three aircraft deemed the most financially burdensome is aimed at curtailing excessive spending on maintenance.
Over the years, the presidency has allocated significant sums for PAF maintenance, with budgetary provisions ranging from N3.65 billion in 2016 to N25.7 billion in 2023. However, precise expenditure figures remain unconfirmed.
Furthermore, in a separate move geared towards fiscal prudence, President Tinubu has enforced a three-month travel ban on publicly-funded foreign trips by Federal Government officials, with immediate effect.
The utilization of the fleet falls under the purview of the Office of the National Security Adviser (ONSA), ensuring efficient management and utilization.
