Connect with us

News

Nigeria Tops the World List as one of the Fastest Growing Private Jet Markets | Trend of Purchasing Private Jets Rises by 650% in 5 Years

Published

 on

It is true that wealthy Nigerians like living the big life; the big houses, posh cars and now trending – private jets.

A recent investigation by Punch has shown that wealthy Nigerians have spent a sum of $6.5bn (N1.02tn) on private jets in the last five years. This luxury trend has risen by a significant 650 percent in the last five years. Between 2007 and 2012, private jet ownership has grown from 20 to 150. This reveals that wealthy Nigerians have acquiried at least 130 jets worth up to N1.02tn in the last five years.

You might ask why I’m interested in this story. In every society, the gap between the rich and the poor is often startling and Nigeria is no different. With a large percentage of the population having no access to basic education, average shelter, food, clothing and living under $1 dollar daily, it is quite interesting to note that a growing number of people are “fortunate” enough to spend up to $50m on a brand new private jet.

A private jet costs between $40m and $65m. A brand new Bombardier Challenger 604, one of the most commonly used private jets in the country costs about $55m.

According to findings from the report, 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.

The report also reveals that Nigeria and China are two of the fastest growing private jet markets in the world.

So who is purchasing these aircrafts?

A source mentioned that the jets were being bought by top politicians, oil magnates and other business moguls in Nigeria. It is difficult to find their identities because most of them buy them through some foreign companies in North America, especially the US. The foreign company then lease it to another company in Nigeria. The investigation also revealed that several private jets have been ordered by wealthy Nigerians which would be delivered this year or later in 2013 an 2014.

This shows that the figures are still going to rise.

The CEO of an airline noted that during political meetings or big functions in Abuja, over 50 private jets are usually seen parked at the Abuja airport.

It is indeed saddening that in a society where people have several private jets, many can not afford 3 square meals! This brazen show of wealth has pushed many into heinous crimes and money making rituals. I have no grouse with the fact that some people can afford private jets. Infact, if some people are making that kind of money in Nigeria, then it should be an indication that our economy is thriving.

However, with corruption practices and a production system that ensures the rich get richer and the poor get poorer, the trend of rising private jet ownership in the country isn’t something to rejoice about.

Or what do you think?

Adeola Adeyemo is a graduate of Industrial Relations and Personnel Management from University of Lagos. However, her passion is writing and she worked as a reporter with NEXT Newspaper. She believes that anything can be written about; anything can be a story depending on the angle it is seen from and the writer's imagination. When she is not writing news or feature articles, she slips into her fantasies and creates interesting fiction pieces. She blogs at www.deolascope.blogspot.com

23 Comments

  1. Tolu

    September 17, 2012 at 8:31 am

    The way things are, and the way they are going to be in this country ehn……
    Articles like this used to make me sad and pray for my country but nOw ehn
    Mo ti gba ka mu
    I cant even feel sad or bad again.
    Now im directing all my energy into working really hard for myself nd family
    So that these nigerians wount push me to the poor majority.
    Honestly this article jst inspired me that if people can be this rich in nigeria, nothing must stop me.

  2. Austine Da Whizchap

    September 17, 2012 at 8:35 am

    Quite Unfortunate!

  3. naijasportsgists

    September 17, 2012 at 8:38 am

    How did they get the money for those jets? Corruption in display.
    http://naijasportsgists.wordpress.com/

  4. pynk

    September 17, 2012 at 9:30 am

    The truth of the matter is some of these pple with private jets just think its a display.
    Nigerians have issues on the whole, nothing more or less. Any government official shouldnt own a private jet. Even Bill Clinton doesnt own one.

  5. Anelka

    September 17, 2012 at 9:39 am

    Have you ever flied private jet?
    The turbulence is outta this world cos its usually small aircrafts!
    Naija we hail thee!
    Let me list people who i know own PJs
    *Akan Udofia
    *Jim Ovia
    *Aliko & Sani Dangote
    *Azi Godbless
    *Lucky Igbinedion
    *Tony Elumelu
    to mention but a few!

    • Damie

      September 17, 2012 at 10:45 am

      Conveniently skipped the names of the pastors, ey?

    • Damie

      September 17, 2012 at 12:39 pm

      Ehn ehn? So you have flown in a private jet? Congratulations

  6. Anelka

    September 17, 2012 at 9:40 am

    Sorry
    *flown*

  7. Lia

    September 17, 2012 at 9:47 am

    And i am sure most of them come from villages or towns with no proper schools, hospitals and other infrastructure where the youth have turned to armed robbery due to unemployment but issorait God is watching! #Misplacedpriorities

  8. Oma

    September 17, 2012 at 10:18 am

    Another proof of how much unaccounted money is getting into the hands of the rich minority.
    http://hushitsonlysmalltalk.blogspot.com/

  9. Teefah

    September 17, 2012 at 10:47 am

    No shade to the few who have legitimately made money and can afford PJ’s.
    But we know most are crooks, who have siphoned money from the country’s coffers into their personal accounts or others who have made money some other dodgy way.
    it’s only in Nigeria that a known crook is celebrated, and treated like he has cured cancer, while the real brains leave the country for a system that will appreciate and reward them
    THIS is the reason men are killing others for rituals, people are being kidnapped everyday and fraudulent activity thrives. Every body wants their own private jet too by any means necessary!

    http://www.that1960chick.com

    • Damie

      September 17, 2012 at 12:38 pm

      Ehn ehn? Only in Nigeria? This your broad view of world wide experiences is amazing. Of course it’s only in Nigeria. Out of over a hundred countries in the world 🙂

  10. huh?

    September 17, 2012 at 11:11 am

    Pls this issue of majority of the people living in obscure poverty is really over flogged.no one is responsible for any one misfortune or unfortunate situation,I’m just tired of dis criticism,not as if it will change anything anyway.if given the opportunity I wouldn’t mind too,so I ve no grief with whoever that is living a life of affluence.life is vanity,we all know,so? That is the more reason why I should live a worth while life,not as if living a life of poverty is a guarantee to make heaven!

    • Damie

      September 17, 2012 at 12:37 pm

      Lol. Thank you o. I do not understand why some legally wealthy people are being vilified for having money. Still a bit ostentatious though.

    • lala

      September 17, 2012 at 8:41 pm

      Because most of them are not legally wealthy. Why are politicians on that list? Even most wealthy bankers and oil barons are not legally rich (remember our banking crises and the currect subsidy issue). Most of them are crooks and that is the problem.

  11. Pingback: Nigeria ranks as the fastest growing private jet market in the world - Private Jet Daily - Private Jet Daily

  12. Olise

    September 17, 2012 at 3:42 pm

    Hi there, interesting as this article may appear, I think it hasn’t answered a lot of fundamental questions. First, the fact that the reporter saw forty or so private jets parked at the airport does not mean they are: 1. owned by Nigerians. 2. owned by individuals as they may be owned by companies.

    also the story has failed to tell us the source of the statistics on the rise from 2007 to date. the story mentioned that according to findings from a report…. which report is this or was it made exclusively available to the reporter? there are credibility issues with the story. You need to give your readers as much details as possible so that we too can also verify the accounts reported. besides is it possible that any aircraft maker or dealer worth their name(s) would actually divulge this much information on its clientele base?

    again, where somebody has honestly or via corruption, earned money, he is under no obligation whatsoever to spend that money on the poor. as a sentimental society we have our expectations of what he should do with that money. but truth is, the onus falls on him to do as he likes with it. charity or philanthropic work are optional not obligatory. besides how can you ascertain that the wealthy in nigeria actually do not help their communities?

    in doing such reports let our judgement not be clouded by sentiments but by objectivity.

  13. Oyin

    September 17, 2012 at 9:33 pm

    It’s bunch of pastors and criminals in government. Someone buying million dollar jet while the average Naija is suffering doesn’t even have access to basic necessities. But, God sees all of you big heads, and your punishment is coming.

  14. Yeye joshua

    January 22, 2013 at 7:55 am

    Pls i am not codemning d man of God of having private jet,is to support thier ministry,but one thing i we ask,pls i am very belitle to ask dis question,is dare not a poor man in thier church,and d scripture say we should not think about tomorrow tomorrow we surely think about itself,if we follow d scripture will wont think of pvt jet,nobody no time, day that is going to die,will should live our life like we are going to die tomorrow

  15. keneri

    October 14, 2013 at 1:46 pm

    You are free to use your money anyway you like, is nobody’s business. Nigerian journalists are fond of in-sighting the public against some individuals or government. Firstly, we were told by Nigerian journalists that Nigeria has the highest number of private jets in the world until i went to the internet and discovered that Nigeria is not even among the first 20 countries in the world. Nigeria is not the only poor country with rich people who owns private jets. What’s all this noise about. These people worked for their money and we should all work hard too.

  16. Austine oche

    January 3, 2014 at 9:32 am

    Just as the bible puts it, God is the only one with the exclusive right to judge who is good and who is bad

  17. Ola

    October 6, 2014 at 8:15 am

    I’m tempted to comment on this article. No journalist should quote figures about nigerian private jet owners yet give such shallow information about nigerian population while comparing the two? Is anyone seeing the issue. The real disaster is the population information this journalist doesn’t have not just the private jets 150 people have. The real disaster is the amount of poor nigerian people amidst such promising economy. Publish those figures and how they exist. God Bless.

  18. keneri

    April 21, 2015 at 3:28 pm

    Nigerians should at-least, for once appreciate our own. All cannot be rich and Nigeria is not the only country in the world where rich people own private jets and the poverty thrives. We should stop reading negativity to people’s money. All the private jet owners in Nigeria are also philanthropists who are doing one thing or the other to better the lives of some people in their own ways; how many people/lives can you touch?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Star Features

Advertisement
css.php