Jets worth $3.75b Owned By Nigerians

Simon Ateba/Aviation correspondent

Wealthy Nigerians own over 150 jets worth about $3.75 billion, the Managing Director of Guaranty Trust Bank, Mr. Olusegun Agbaje, said on Tuesday, as disquiet over secrecy on private jet business in Nigeria continues to reverberate.

Agbaje’s figure is almost twice the 71 private jets earlier disclosed by Nigerian aviation authorities.

The Nigerian Civil Aviation Authority, NCAA, had last year rejected a figure by Forbes Magazine that there were over 150 jets in Nigeria and insisted that there were only 71 private jets operating in the country with only ten of them registered in Nigeria.

Agbaje, who spoke at the Nigerian Business Aviation Conference 2013, was quoted as saying that the favourite jets among rich Nigerians are Gulfstream, Bombardier, Global Express, Hawker Legacy and Dassault Falcon. He said each category of jet costs $25m.

Most of the jets, he said, are brought in from the United States of America, Canada, Europe, Brazil and South Africa.

Agbaje said Nigeria provides a huge opportunity for development in aircraft manufacturing industry but risks factors associated with commercial aviation in Nigeria are a big deterrent.

Other speakers such as the International Sales Manager, Trevor Esling, the Vice-President, Sales and Marketing, Embraer Aircraft Manufacturing Company, Colin Stevens, among others expressed optimism about the Nigerian aviation industry.

The conference was organised by the Evergreen Apple Nigeria in Lagos State, southwest Nigeria.