Human rights activist Omoyele Sowore has call attention to the staggering cost of President Tinubu’s extravagant purchase of a $150 million presidential jet, an expense that seems out of touch with the reality of everyday Nigerians, who grapple with economic hardship and high costs of living.
Taking to his Facebook page on Monday evening, Sowore revealed that President Asiwaju Bola Ahmed Tinubu has reportedly bought a $100 million presidential jet, spending an additional $50 million on its configuration.
According to Sowore’s Facebook post, the jet, previously known as VP-CAC, has been renamed 5N-FGA and is now ready for delivery.
“While they are telling you to “exercise patience” Asiwaju Bola Ahmed Tinubu already bought a $100m Presidential Jet and configured or reconfigured it with some $50million and it is ready for delivery! The jet is an A330-200 initially christened VP-CAC is now registered as 5N-FGA.”, he wrote.
Sowore went on to emphasize that the $150 million spent on the presidential jet was not budgeted for, while minimum wage workers struggle to make ends meet and students face the burden of loans to finance their education.
He juxtaposed the government’s spending on the private jet with its approval of billions for hajj, yet failing to effectively manage or monitor the funds, ultimately leading to theft. Sowore concluded his post by rallying support for the #RevolutionNow movement, urging citizens to take a stand against the excesses and mismanagement of the ruling class.
“This was not in the annual budget, they can’t pay minimum wage for workers but could afford $150m for a private jet, students have to obtain loans to go to college but they could afford to approve billions for hajj even as the money/ies ended up being stolen.
Fight we MUST! #RevolutionNow .”, he added.
PREMIUM TIMES had reported that the Nigerian government intended to acquire a seized Airbus A330 aircraft, which was reportedly in possession of a German bank, following a default on a multi-million dollar loan by an unnamed Arab prince and businessman.
The government had reportedly identified the aircraft for purchase but was seeking funds to complete the transaction, pending any changes to the plan.
According to reports, the Nigerian government had its sights on the Airbus A330 aircraft, previously owned by a troubled oil sheikh who used it as collateral for a loan from a German bank.
The aircraft was at that time in the possession of L & L International LLC, a Miami-based aviation firm, which was facilitating the sale on behalf of the German bank. Valued at $600 million, the multi-engine jet boasts a luxurious VIP configuration.
According to the report, the Nigerian government had made a bid of approximately $100 million for the repossessed Airbus A330 aircraft, but the seller, L & L International LLC, was yet to accept the offer.
It was reported that the proposed payment equivalent was N150.7 billion, based on the official exchange rate of N1,507 per US dollar at the time.
According to the report, AMAC Aerospace AG, a Swiss aviation company, was facilitating the Nigerian government’s acquisition of the repossessed Airbus A330 aircraft.
AMAC Aerospace AG has a pre-existing contract with the Presidential Air Fleet (PAF) for aircraft maintenance, but the company’s director, Alexis Ott, declined to comment on the matter, citing a policy of not disclosing information about such transactions.
An operator history dashboard on planespotters.net also showed that the Airbus 330 was now wearing the tail registration of the Nigerian presidential jet 5N-FGA and also adorned with the Nigerian Presidential Seal.
The A330 combines new-generation engines, aerodynamic and other improvements to deliver even more comfort and efficiency. Designed for highly-demanding VIP and private markets, the aircraft delivers top-end luxury, comfort and range.
The A330 is the world’s most successful widebody airliner, having evolved through intelligent innovation into an even more capable aircraft – as well as having evolved into freighter, multi-role tanker transport and corporate jet roles.
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