Tinubu initiates Cost-Saving Measures, Plans to Sell Three Presidential Jets

By Iyojo Ameh

In a bid to cut cost of governance, the Tinubu Administration has announced plans to sell three jets from the Presidential Air Fleet (PAF), a highly placed official disclosed over the weekend.

The decision comes as part of broader efforts to streamline government expenditure. Currently, the fleet comprises 10 aircraft, including six jets and four helicopters, which will be reduced to seven if the planned sale is successful.

This move echoes a previous attempt during President Muhammadu Buhari’s administration to sell off two planes in the fleet, a Dassault Falcon 7x executive jet and a Beechcraft Hawker 4000 business jet, back in October 2016.

However, the sale fell through after preferred bidders reduced their offer from $24 million to $11 million, a figure rejected by the government at the time.

In an effort to mitigate maintenance costs, the administration had explored alternative options, including chartering some of the aircraft to interested governors to generate income.

The fleet consists of 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 used by the President for official trips.

While details regarding the replacement of the BBJ 737 remain unclear, it’s worth noting that the aircraft was acquired for approximately $43 million during President Olusegun Obasanjo’s administration.

Concerns over escalating maintenance costs, estimated at over $5 million in recent months, have prompted President Tinubu to take action. The decision to sell three aircraft deemed the most burdensome is aimed at curbing excessive spending on maintenance.

The presidency has allocated substantial sums for PAF maintenance over the years, with budgetary provisions ranging from N3.65 billion in 2016 to N25.7 billion in 2023. However, actual expenditure figures remain unconfirmed.

Furthermore, in a separate cost-saving move, President Tinubu has imposed a three-month travel ban on public-funded foreign trips by Federal Government officials, effective immediately.

The use of the fleet is overseen by the Office of the National Security Adviser (ONSA) to ensure effective management and utilization.

As the administration continues to prioritize fiscal prudence, the decision to sell presidential jets underscores its commitment to rationalize government spending amidst economic challenges.