(MENAFN) Amidst Nigeria's ongoing economic challenges, President Bola Tinubu has directed the sale of three aircraft from the country's Presidential Air Fleet (PAF) as part of efforts to mitigate spending amidst a downturn, reports from local media indicate. The decision to reduce the fleet, comprising six jets and four helicopters, stems from growing concerns over escalating maintenance costs, as detailed by an anonymous government source cited by The Nation newspaper.
The source revealed that President Tinubu, recognizing the financial strain posed by the maintenance of the aircraft, has opted to divest from the assets that impose the greatest financial burden on the nation. This move comes against the backdrop of significant budget allocations dedicated to PAF maintenance, totaling at least 80 billion naira between 2016 and 2023, according to reports from local media outlets.
This isn't the first attempt by Nigeria to streamline its presidential aviation assets. In 2016, during the tenure of former President Muhammadu Buhari, efforts were made to sell two aircraft from the fleet, including a Dassault Falcon 7x executive aircraft and a Beechcraft Hawker 4000 business jet. However, initial bids reportedly fell short of the government's valuation, leading to the rejection of the offers.
Nigeria's decision to divest from a portion of its Presidential Air Fleet comes amidst a broader economic crisis exacerbated by recent policy changes. President Tinubu's removal of fuel subsidies, implemented as part of deficit-reduction measures upon assuming office in May, has triggered widespread public discontent, manifested through street protests and nationwide strikes.
In a bid to address fiscal challenges and streamline government spending, President Tinubu recently issued directives aimed at curbing administrative expenditures. Last week, he suspended all publicly funded international travel for government officials, emphasizing a commitment to reengineering the country's finances and prioritizing the public interest over individual agendas.
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