Presidential Jet: Nigerian govt reportedly offers over $100 million to German Bank for second-hand aircraft

The Nigerian government has reportedly offered a little over $100 million to an unidentified German bank for the purchase of an Airbus A330 aircraft seized from an unnamed Arab prince and businessman who could not pay hundreds of millions of dollars he owed the bank.

According to Premium Times, the government is scrambling for funds to consummate the transaction for the aircraft which is now in the possession of L & L International LLC, an American aviation firm based in Miami, Florida. 

“L & L International LLC is trying to help the German bank sell it to the Nigerian government. The multi-engine prestige jet, which has an elaborate VIP configuration, is said to be worth $600 million. But the Nigerian government is offering a little over $100 million,” part of the report read. 

READ ALSO: Some private aircraft/jet used for money laundering, drug trafficking – Minister 

Although it is not clear if L & L International has accepted the amount offered by the Nigerian government, AMAC Aerospace AG, a Swiss aviation company, is reported to be coordinating the Nigerian government’s purchase of the aircraft as it has a long-standing aircraft maintenance contract with Nigeria’s Presidential Air Fleet (PAF).

The newspaper quoted an official of the government who said some of the money to purchase the plane would come from the N180 billion contingency fund provided for a service-wide vote in the 2023 supplementary budget. 

SolaceBase reports that the National Assembly approved President Bola Tinubu’s request to extend the lifespan of the 2023 supplementary budget to December 31.

READ ALSO: Reps approve Tinubu’s request to extend 2023 budget, supplementary appropriation act 

Before then, the House Committee on National Security and Intelligence asked the federal government to immediately procure two aeroplanes for President Bola Tinubu and Kashim Shettima to secure the transportation of the country’s top officials.

Days later, the Senate Committee on National Security and Intelligence supported the recommendations made by its House of Representatives counterpart. 

Meanwhile, many Nigerians have criticised the government for its plan to purchase new presidential jets amid economic hardship and inability of the authorities to pay the requested minimum wage to workers.