Wealthy Nigerians Spend Over $6.5bn On Private Jets Despite Aviation Challenges

Wealthy Nigerians Spend Over $6.5bn On Private Jets Despite Aviation Challenges

Despite recent aviation challenges, it has been revealed that Nigerians have spent over $6.5bn (N1.02tn) on the acquisition of private jets in recent years with an overall monetary value of $7.5bn (N1.18tn). Security concerns, privacy and the need for urgency were cited in 2012 as some of the reasons for this sudden rise when private jet ownership in Nigeria grew by around 650%. This is perhaps no surprise with social media sites like Instagram and Twitter increasingly littered with pictures of celebrities in their private jets, perhaps, a sign of the times we are now in.

Most Popular Nigerian Private Jets

According to aviation sources, the most common private jets in Nigeria include Gulfstream 450, 550 and 650; Dassault Falcon 900; Bombardier Challenger 604, 605; Global Express; Embraer Legacy and Falcons; and Hawker Siddley 125-800 and 900XP, with an average price of $50m, confirming the country’s status as one of the fastest growing private jet markets in the world and the largest luxury aircraft market in the world.

Particularly common among those at the top of Nigeria’s rich list, which includes Africa’s wealthiest businessman Aliko Dangote, oil baroness Folorunsho Alakija, and mobile phone tycoon Mike Adenuga is the long-range Bombardier Global Express XRS.

Nigeria Private Jets Owners

Popular Nigerians that own private jets include musicians, businessmen, politicians, state governors, pastors and football players. Listed below are some of those in the top 10 to 20:

  • Ayo Oritsejafor
  • Aliko Dangote
  • Rotimi Amaechi
  • Jide Omokore
  • T.B. Joshua
  • Theophilus Danjuma
  • Godswill Akpabio
  • Bola Tinubu
  • Femi Otedola,
  • Orji Uzor Kalu
  • Bishop David Oyedepo
  • Pastor Enoch Adeboye
  • Mohammed Indimi
  • Mike Adenuga
  • Ali Modu Sheriff

Nigerian Aviation Woes

Unfortunately, this rise in private aircraft ownership is tainted by millions of Nigerians who cannot afford commercial air travel let alone buy or hire a private jet, while faced with a recent recession causing economic hardship for many. It also comes at a difficult period for the aviation industry in the country where travelling on commercial airlines can be problematic, with frequent delays and rerouting causing chaos among passengers.

Just recently, the Nigerian government announced a takeover of the country’s biggest airline – Arik Air – to prevent it going bust. This followed the closure of Abuja’s airport for extensive runway repairs for six weeks between March 7 and April 19, 2017, while major repairs are carried out on its runway.

Inside A Nigerian Private Jet

How the Super-Rich Travel

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