Nigeria's rich elite buying private jets to avoid flying on commercial airlines | Welcome to Linda Ikeji's Blog

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Wednesday, 5 March 2014

Nigeria's rich elite buying private jets to avoid flying on commercial airlines

Nigeria's rich elite are increasingly buying private jets to avoid flying on commercial airlines, reports the BBC's Tomi Oladipo from Lagos. The full report below...
"There's an average of nine aircrafts fixed here in the hangar," says Peter de Waal of ExecuJet Aviation Nigeria, looking across at a line of sleek jets, as a team of engineers works on them.
ExecuJet provides a hangar and is authorised by major aviation companies to provide maintenance services for business aircrafts, attesting to the rapid growth of the private aircraft industry in Nigeria.
"Maintenance was done in Europe and the United States, but our services here can help save time and an enormous cost," Mr De Waal told the BBC.

Travelling on Nigeria's commercial airlines, even in business class, can be problematic, with frequent delays and rerouting causing an inconvenience for everyone, including those for whom time is money. 

This, with the added exclusivity, has made the option of bespoke air travel a popular one for the super-rich.
"It is difficult to estimate the exact number of private jets in Nigeria because the majority are under foreign registries," says Rady Fahmy, the executive director of the African Business Aviation Association.
"Aircraft in Nigeria, and most of Africa, are owned by individuals who are businessmen and women," he says.
"This is in contrast to North America and Europe where the account is usually under corporate ownership.
"The choice to put it under individual's name is due to financing requirements."
'To owner's taste'
 
Most of the jet owners prefer to avoid the spotlight, especially when it comes to discussing their wealth, although within aviation circles it is common knowledge who owns what.
The long-range Bombardier Global Express XRS, worth about $50m (£30m), is preferred by those at the top of the rich list, including Africa's wealthiest businessman Aliko Dangote, oil baroness Folorunsho Alakija, and the mobile phone tycoon Mike Adenuga, who also own both short and long-range business aircraft.

Other common models - ranging from about $57m to $39m - are the Gulfstream G550, Bombardier Challenger 605, and Dassault Falcon 900, with owners ranging from politicians to clergymen.
Mr De Waal makes a quick phone call to a jet owner and I am granted access to a sleek Falcon 900.

A polished dark wood trim sets the mini-bar apart from the rest of the cream interior with grey leather seats.

The passenger area is divided into several parts, including a general area with four seats, a business meeting area also with seating for four, an enclosed area with a large couch that can be converted into a bed, and a small bathroom at the back of the plane.
It is all made to the taste of the owner, a billionaire businessman, who asks not to be identified.
The planes are also mostly registered abroad, mainly in the US, Bermuda, the Channel Islands, the Isle of Man and Mauritius.

Some industry insiders think owners prefer such arrangements as aircrafts lose their resale value if they are registered in Nigeria because of doubts over maintenance standards.
Luxury jet tax axed
 
It is difficult to ignore the tens of millions of Nigerians who cannot afford commercial air travel, not to mention owning aircrafts.

People navigate through the waterways of the Makoko slum in Lagos, Nigeria on 30 August 2012
Many Nigerians have never flown in their lives
A view of buildings in the Victoria Island district of Lagos (29 October 2013)
Victoria Island is a plush area in Nigeria's commercial hub of Lagos

Nigeria is achieving steady economic growth but the general perception is that few are benefiting from this boom apart from its more than 500 people with estimated assets of above $50m.
For those who are not quite able to afford their own planes, Nigeria's chartered flights business is also booming, attracting international companies such as Hanger8 and VistaJet.

The growth of the air transport industry and the economy has led business aviation manufacturers like Beechcraft Corporation into the African market, with Nigeria as a key focus.
"We have seen a large number of deliveries of business aircraft across the continent over the past decade," say Scott Plumb, Beechcraft's vice-president of sales for Europe, Middle East and Africa.
"We fully expect this trend to continue as a greater number of entrepreneurs and corporate entities seek to take advantage of the benefits of business air travel on the back of Africa's strong economic growth."

Cultural peculiarities also make it to the runway, with huge entourages of friends and aides swarming around Nigeria's larger-than-life VIPs.
"You can sometimes see five or six cars at the same time to receive one person," Mr De Waal says.
In October 2013, the Nigerian Airspace Management Authority introduced a luxury tax of about $3,000 for every departure of a private jet.

The jet owners responded by saying it was unfair and the senate soon ordered a suspension of the levy - a sign of the political influence of Nigeria's wealthy businessmen and women.

Culled from the BBC

65 comments:

Sunmola Oluwatosin said...

Nigerians re suffering nd d rich keep buying luxury things..God plz save d nation.

Anonymous said...

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www.promoupdate.com said...

too much money dey worry dem... anyway name good tin

Anonymous said...

Wat can I do 2 get a kiss 4rm u?

Cagey Berry said...

Its a gradual process. I wil surely get there.

BONARIO NNAGS said...

At last howmuch space does man need? Just 6 by 6.
Ash Wednesday reminding us of life's futility and nothingness of mortality.

~BONARIO~says so via NOKIA3310

Anonymous said...

Dear linda,since there is no such tin as poor elite,i would rather has prefered u used another phrase

onyinye Gloria said...

We'll all get there somday. God dey

bonita bislam said...

Its their time.In my reverie,I see myself buying the whole sky soon.

Dee Gurl said...

Money is good, one day i go buy my own too.

Miss X said...

I am getting my own jet soon :-)

winniekoko said...

The rich are getting richer......

Felicity Akonbudu said...

Now you can say life is not fair!!

Peejay said...

Diezani! We are sorry for asking about the missing $20bn. Pls give us fuel abeg...? As for the jet owners, more grease to your elbows.

Zimama Rufus said...

The property tax law should be strictly implemented. The Nigeria Government can generate adequate revenue using this taxation means. Taxes should be paid by private jet owners. This will help to redistribute income or better still reduce the income of the rich though it will NEVER BE AN EFFICIENT MEANS OF INCOME REDISTRIBUTION.

Institutional problems in Nigeria is that policies are never implemented

Anonymous said...

Keep keep buying O... The Rich keeps getting richer... *mtcheew*

~Beautiful lopez~

ONYX GODWIN said...

If u can afford it,den u can live it... i wud definitely do so wen i gt wealthy too...

@edDREAMZ said...

Mehn, why dem never announce this people for forbe..... God just say YES for my life thats all.....
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***CURRENTLY IN JUPITER***

@edDREAMZ said...

Lindiway when yu go buy ur own bcos i hear say the thing don cheap....
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***CURRENTLY IN JUPITER***

Olaleye Adisa said...

Mouth sealed but God is watching ooooO. ⌣̊┈̥-̶̯͡»̶̥♡thanks ⌣̊┈̥-̶̯͡»̶̥ 

Anonymous said...

Why would't dey buy heaven on earth when they divate all our funds to swiz account. Live matter jor am done with dia nonsense sundaycaius said so

Anonymous said...

If I had the money me too will buy pj becos the domestic airlines in dis country r shit heads...mannerless, disorganized, unreliable organisations...I hate flying locally and fear of bad road and unworthy cars put the fear of travelling by road...

hilary obiorah said...

Saves them a lot of inconveniences, especially dying. With all the plane crashes, they have in one way or the other aided, who would one way or the other want to fly commercial. That's the Nigerian way, instead of fixing a problem, avoid it totally.

bbm pin 7439955a said...

That's what I pray and hustle for. Wealth. ENGR E.

Igor said...

If onwing a private jet will save you time and energy,go for it.There is a standard one cannot fall below.

temmi said...

well written

Kenny Tola said...

Rich men things....naija 4life.

Almahroof Mubaraq said...

Heavenly God help the poor

***Starman***

Anonymous said...

I shall make money in Jesus name....wen am super rich I buy 1 too

Tony Josephat-Nwokolo said...

The rich gets richer and the poor gets poorer. I am of the school of thought that believes that any one can rise from the floor to the peak irrespective of the fellows race, age, background pr education. All it takes are; Vision, Faith, Diligence, Decision, Discipline, Determination, Dedication and Resilience. You too can own and fly in your own jets if you believe, bcos, "Whatsoever the mind of man can conceive and believe it can achieve. All it takes are the aforementioned attitudes which anyone can choose to develop; to discover Success Principles, Get Motivated and Inspired from those who have succeeded read Success Stories visit www.successstoriesng.blogspot.com
Wealth is my covenant birthright, becos Our father Abraham was wealthy, likewise Isaac and Jacob. And even my master Jesus Christ was wealthy that is why 2nd Corinthians 8: 9 tells us; "For ye know the grace of our Lord Jesus Christ,that though He was rich, yet for your sakes He became poor that ye through His povery might be rich. So friend you ve no business with poverty becos He have paid the price for you to become rich. You will succeed...Shalom

Anonymous said...

So whats the gist here???

Phanisy babatunde said...

I and linda will soon join the owners of these Gulfstreams ..
Phanisy says so Via BOLD 12

DESSY DAVID said...

GOOD FOR THEM

Temitope Irabor said...

Naija I hail thee

Opelicious Morgann said...

As much as I try to be neutral, I wish many of these rich elites would do just a little bit more to help the less priviledged people in our society, not out of obligation or religion but simply due to conscience. Yes, it's their money bla bla but that's my opinion.

Chinyere Iroegbu said...

Make Dem enjoy, they worked for it. Na their money.

Anonymous said...

Nigeria the rich are getting richer and the poor are getting porrer,that is y they put ring on. A woman virgina they can do anything for money am not trriped at all

MY TURN said...

They can't fly commercial airlines because the rest of us are what? RUBBISH... like someone said when we all die it the same space in the same mother earth we will all be buried. I admire honest wealth not arrogance.

Anonymous said...

May God help this country

Chuxx 0bi said...

May G0d give me money to buy at least one of the cheapest PG....

Apple said...

They can buy all the private jets in the world but they will still die like the common man. Death can't be bribed.

smk said...

I dnt hv a problem wit owning a private jet,,d problem is wen public funds are used to acquire it

Anonymous said...

All of them jets will be bombed by 2015. So, U all should not worry. Its a promise that must be fulfilled.

fadig said...

This is where u see d effectiveness of our senate....stupid people..

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Amarachukwu said...

May God help us...

Kamtochukwu Anene-Udeh said...

The Money dey pile up


Kamto Haf Tok

Adeola Moses said...

you get rich because you hustle hard maybe in a clean or dirty way it still carries the name hustle,we all just need to believe and work hard so we get to that high level of buying things that will give us comfort.

AnnMarie said...

Itz their money they should spend it the way they like

lauren thomas said...

N u're a boko Haram member I suppose? As far as it's nt ill gotten wealth, den I wish dem well, bt all dose dat did evil... baba God pls butter my bread

Anonymous said...

Nobody should blame anybody....everybody paddle your own canoe....just like in the picture above

Nonso said...

Long story..That one no concern me..sha dey should keep buying the planes. We will fly them all.

Anonymous said...

Lmbo

Anonymous said...

So... guys, the reason why the rich buy or lease Private Jets is mostly due to convenience and schedule. Otherwise, there is no major advantage, the maintenance cost of a private jet is nauseating but thats what it takes to keep those bad boys safe in the sky. When I flew economy, one old woman hit me on my head because she was trying to get up from her seat onto the aisleway heading to the restroom. Im thinking, this is one reason why you don't want to fly economy or with the rest of Nigeria. Sometimes, you want to be catered to solely, so when you're sharing first class with 9 others, its a bit inconveniencing. Getting out of the aircraft, you have to share the same gate with everybody else when if you had flown through one of those FBO's, you have the choice for landing at a private terminal with your car waiting close-by, red carpet and all. Now when Peter said 6 to 7 cars waiting for one person, now I don't understand that, but hey its Nigerians. They love extravagance and showing off, its in you guys' blood, you cant help yourselves. So, I say to the aviation experts in this field, Nigerians are your target, they have money to spend, please lets help them spend it on lavish living. I love my field... especially the Nigerian market.

Hot Cool Gist said...

This is extra-overwhelming..... I still describe this as 'change'...


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Osarhiemen Agbonkonkon said...

Who do u wnt to collect kiss frm ?...is it frm Linda or the private jets ???

Osarhiemen Agbonkonkon said...

Seriously...man and vanity.
Anyway,like @Lauren Thomas said,if its money made in d proper way,its okay to hv a private jet.But if its stolen wealth,its a big NO.

proper bini girl said...

Greed, this should only be allowed in a country that has a balanced economy. If half of the country's economy cannot afford 3 square meal. Citizens of such a country shouldn't be allowed to acquire private jets. Unless thee economy is balanced. Because the resources used in buying those jets r stolen either directly or indirectly. U can't say u r not stealing if u keep telling lies just to make money. Even so called men of God these days. I don't want to mention any name. I think Nigerians shouldn't be allowed to own private jets because most people still live in abject poverty and the resources for the jets were stolen either physically, mentally- through brain washing and extorting people and also spiritually- using other people for rituals. My dear Nigerians, most people have nt even eaten for 2 days. If the wealth is being circulated things would be better. #period

onye nsogbu said...

These so called rich elites that you guys are saying should help the poor were once on the ground. Y'all should realise they got "angry" and challenged poverty and now they are big boiz/ladies and buying jet(s). They cant obviously help the whole Nigeria out of poverty...You too, wake up, smell the coffee, use your brain and pray for God's favour so your hustle will yield enuff money for a provate jet! stop being biase by saying pple are suffering and dey are buying luxury jets. They once suffered and i'm sure they are helping pple but they cant help everybody. Help urself and let the poor make efforts too!
As a matter of fact, my jet is on its way but I wont deny the fact that I intend to help pple but my outstretched arms to the poor will be limited. They need to break loose from poverty too by their own efforts.

MissBusyBusy said...

Why so much hate for the wealthy? Not every rich man is a politician/thief/liar/cheat/ritualist.. Some people work hard for their money. You can never become that which you do not appreciate....

Osarhiemen Agbonkonkon said...

Rotfl

Anonymous said...

Enough of all these yapping, Nigeria is a capitalist country. Our problem is not what the rich are doing with their money, provided each of them earn in good fate through hard work. Nigeria problem is extreme govt looting and lack of checks and balances in the system.

proper bini girl said...

@missbusybusy, u r a retard. Why talk like that. U must be a selfish person.

capt 43 said...

more of this good stubs

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