Private jet ownership in Nigeria has grown by 650 per cent, from 20 jets in 2007 to over 150 jets in 2012.
According to documents sighted in
aviation agencies, the development means that wealthy Nigerians
acquired, at least, 130 private jets with a sum of N1.02tn ($6.5bn)
within the last five years.
This put the private jets aviation
market in Nigeria (the monetary value of all private jets in the
country) at N1.18tn ($7.5bn), using $50m as the average cost of each
brand new private jet.
A private jet goes for between $40m and
$65m, according to the websites of major private jets manufacturers,
like Bombardier of Canada; GulfStream and Hawker Siddley of United
States; and Embraer of Brazil.
According to findings, the common brands
of private jets in Nigeria are Gulfstream 450, 550 and 650; Bombardier
Challenger 604, 605; Global Express; Embraer Legacy and Falcons; and
Hawker Siddley 125-800 and 900XP.
Top aviation officials told our
correspondent on Friday that Nigeria currently rivalled China as one of
the two fastest growing private jet markets in the world.
An official with in-depth knowledge of
the situation, who spoke under condition of anonymity because he was not
authorised to comment on the matter, said most of the jets were bought
by top politicians, oil magnates and other business moguls in Nigeria.
He explained that the economic downturn
in Europe and the United States had made Nigeria and China to become two
of the fastest growing private jet markets in the world.
He said, “Two countries buying private
jets now are China and Nigeria. Europe and America are going through
turmoil; so, their people are no more buying. This accounts for the
trend that whenever some of the private jet manufacturers develop any
new jet, they take them to Nigeria and China.”
“The private jets in Nigeria are owned
by top politicians, oil magnates and business moguls. It is difficult to
get the real identities of owners of some of the private jets in
Nigeria because they buy them through some foreign companies in North
America, especially the US. The foreign company then leases it to
another company in Nigeria.”
Investigation by our correspondent also
revealed that there were still several private jets on order by wealthy
Nigerians. Some of the jets, it was learnt, would be delivered this
year, while others would be delivered in 2013 and 2014.
A top official of the Nigerian Civil
Aviation Authority, who asked not to be named, said representatives of
the owners of the private jets on order had already notified the agency
about the order. This, he said, was necessary for the purpose of
registering the aircraft in Nigeria. According to him, some of the
private jets also come with foreign registration credentials.
The Managing Director of Aero Airlines,
Captain Akin George, had recently commented on the increasing number of
private jets being parked at the Nnamdi Azikiwe International Airport,
Abuja.
He particularly lamented the fact that
most of the private jets carried foreign registration credentials. He
had subsequently called on the authorities concerned in the country to
make registration processes in Nigeria friendly and attractive.
During a recent visit to Abuja, our correspondent observed that over 40 private jets were parked at the terminal.
The CEO of another airline also said
that during political meetings or big functions in Abuja, over 50
private jets were usually seen parked at the Abuja airport.
These, he said, were different from the ones parked at the Lagos and other major airports across the country.
“If you go to the old local wing at the Abuja airport, there is virtually no place to park private jets again,” he said
Just on Thursday, a team of officials
from the headquarters of Bombardier in Canada arrived at the Executjets
Private Hangar at the Murtala Muhammed Airport, Lagos, to showcase one
of their latest private jets, Global 6000.
The team was led by the Sales Director,
Africa, Bombardier Business Aircraft, Mr. Robert Habjanic, who said that
the team was on a tour of 12 cities in Africa, including Lagos.
Habjanic, who spoke with a few aviation journalists, told our
correspondent that Nigeria was the company’s largest market in Africa,
with about 35 Bombardier-made business aircraft currently flying its
airspace.
He said the team had also showcased the relatively new business jet in other parts of the world.
He confirmed that “private business in Nigeria has been growing tremendously in the last five years.”
He attributed this to the fact that “Nigeria is an emerging market.”
The growth in the purchase of private
jets in Nigeria has also led to the development of multimillion dollars
private jets hangars, where repairs and maintenance could be done in the
country. Some of these include Execujets Nigeria Hangar, Caverton
Hangar and EverGreen Hangar, all located at the Lagos airport.
Speaking on the development, industry
expert, Mr. Olumide Ohunayo, said, “The economy is expanding, with
increasing investments within the country and the region. This will
invariably necessitate instantaneous travel that scheduled airlines
cannot provide.
“Also the privacy needed in a country
filled with paparazzi can be an issue. Increasing political and
religious issues are contributory. By and large, it will continue to
increase if the economy continues with a lot of diversification inputs
that naturally spread wealth.”
Punch
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