• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
Nigeria: Foreign Creditors May Seize Presidential Jets Over Accumulated Debts

Nigeria: Foreign Creditors May Seize Presidential Jets Over Accumulated Debts

3 years ago
Rwanda: Kagame Appoints Top Central Bank Official As New PM

Rwanda Slams US Over Sanctions, Alleges Bias Towards DRC

9 hours ago
Missing Arizona Teen Found Alive 32 Years After Mysterious Disappearance

Missing Arizona Teen Found Alive 32 Years After Mysterious Disappearance

10 hours ago
US Deports Five Migrants to Eswatini Over ‘Barbaric’ Acts

Uganda Receives First Batch Of US Deportees Amid Growing Controversy

10 hours ago
Cameroon: Opposition Kicks As 92-Year-Old Biya Says He’ll Seek 8th Presidential Term

Cameroon: Parliament Considers Bill To Create Vice President’s Office

12 hours ago
Military Leader Says Burkina Faso Must “Forget” Democracy

Military Leader Says Burkina Faso Must “Forget” Democracy

13 hours ago
Saturday, April 4, 2026
  • About
  • HT Management
  • Privacy Policy
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Cameroon: Opposition Kicks As 92-Year-Old Biya Says He’ll Seek 8th Presidential Term

    Cameroon: Parliament Considers Bill To Create Vice President’s Office

    Military Leader Says Burkina Faso Must “Forget” Democracy

    Military Leader Says Burkina Faso Must “Forget” Democracy

    CAR: President Touadéra Sworn-In For Third Term After Disputed Polls

    CAR: President Touadéra Sworn-In For Third Term After Disputed Polls

    Norway Police File Charges Over Oil Bribery Involving Congo Republic President’s Family

    Congo: Constitutional Court Upholds Election Of 82-Year-Old N’Guesso For Fifth Term

    Senegal Says Ex-President Sall Has No Home Support For UNSG Candidacy

    Senegal Says Ex-President Sall Has No Home Support For UNSG Candidacy

    South Africa Dropped From G7 Summit Invitation Amid US Pressure

    South Africa Dropped From G7 Summit Invitation Amid US Pressure

    Zimbabwe: Cabinet Moves To Extend 83-Yr-Old Mnangagwa’s Tenure Beyond 2028

    Zimbabwe: Opposition Figure Challenging Mnangagwa’s Tenure Extension Arrested

    Madagascar: Ministerial Applicants To Undergo Compulsory Lie Detector Tests — President

    Madagascar: Ministerial Applicants To Undergo Compulsory Lie Detector Tests — President

    Congo: Voting Ends As Observers Report Low Turnout

    Congo: Voting Ends As Observers Report Low Turnout

  • Economy
    Mozambique Clears IMF Loan Before Due Date

    Mozambique Clears IMF Loan Before Due Date

    UK: Mortgage Shock Looms As 1.8m Borrowers Face Sharp Repayment Surge In 2026

    UK: Mortgage Shock Looms As 1.8m Borrowers Face Sharp Repayment Surge In 2026

    Kenya: Eight Million Kilograms Of Tea Trapped As Iran War Hits Export

    Kenya: Eight Million Kilograms Of Tea Trapped As Iran War Hits Export

    First Oil Vessel Arrives Cuba Since Beginning Of 2026 Amid Energy Crisis

    First Oil Vessel Arrives Cuba Since Beginning Of 2026 Amid Energy Crisis

    UK: Thousands Of Jobs Under Threat As Starmer Mulls Scrapping NHS

    UK To Host 35-Nation Coalition Talks On Reopening Strait Of Hormuz

    UAE, US Join Bandwagon, Ban Flights From Southern Africa

    Airlines Enter Crisis Mode As Iran War Sends Jet Fuel Prices Soaring

    Upgrade Of Nigeria’s Airport Infrastructure No More Optional — WTO DG

    Upgrade Of Nigeria’s Airport Infrastructure No More Optional — WTO DG

    Ghana’s Inflation Rate Drops To 35.2% In October, Lowest In 14 Months

    Ghana: Inflation Drops To 3.2% 

    US Gas Price Rises Above $4 For First Time In Four Years

    US Gas Price Rises Above $4 For First Time In Four Years

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Cameroon: Opposition Kicks As 92-Year-Old Biya Says He’ll Seek 8th Presidential Term

    Cameroon: Parliament Considers Bill To Create Vice President’s Office

    Military Leader Says Burkina Faso Must “Forget” Democracy

    Military Leader Says Burkina Faso Must “Forget” Democracy

    CAR: President Touadéra Sworn-In For Third Term After Disputed Polls

    CAR: President Touadéra Sworn-In For Third Term After Disputed Polls

    Norway Police File Charges Over Oil Bribery Involving Congo Republic President’s Family

    Congo: Constitutional Court Upholds Election Of 82-Year-Old N’Guesso For Fifth Term

    Senegal Says Ex-President Sall Has No Home Support For UNSG Candidacy

    Senegal Says Ex-President Sall Has No Home Support For UNSG Candidacy

    South Africa Dropped From G7 Summit Invitation Amid US Pressure

    South Africa Dropped From G7 Summit Invitation Amid US Pressure

    Zimbabwe: Cabinet Moves To Extend 83-Yr-Old Mnangagwa’s Tenure Beyond 2028

    Zimbabwe: Opposition Figure Challenging Mnangagwa’s Tenure Extension Arrested

    Madagascar: Ministerial Applicants To Undergo Compulsory Lie Detector Tests — President

    Madagascar: Ministerial Applicants To Undergo Compulsory Lie Detector Tests — President

    Congo: Voting Ends As Observers Report Low Turnout

    Congo: Voting Ends As Observers Report Low Turnout

  • Economy
    Mozambique Clears IMF Loan Before Due Date

    Mozambique Clears IMF Loan Before Due Date

    UK: Mortgage Shock Looms As 1.8m Borrowers Face Sharp Repayment Surge In 2026

    UK: Mortgage Shock Looms As 1.8m Borrowers Face Sharp Repayment Surge In 2026

    Kenya: Eight Million Kilograms Of Tea Trapped As Iran War Hits Export

    Kenya: Eight Million Kilograms Of Tea Trapped As Iran War Hits Export

    First Oil Vessel Arrives Cuba Since Beginning Of 2026 Amid Energy Crisis

    First Oil Vessel Arrives Cuba Since Beginning Of 2026 Amid Energy Crisis

    UK: Thousands Of Jobs Under Threat As Starmer Mulls Scrapping NHS

    UK To Host 35-Nation Coalition Talks On Reopening Strait Of Hormuz

    UAE, US Join Bandwagon, Ban Flights From Southern Africa

    Airlines Enter Crisis Mode As Iran War Sends Jet Fuel Prices Soaring

    Upgrade Of Nigeria’s Airport Infrastructure No More Optional — WTO DG

    Upgrade Of Nigeria’s Airport Infrastructure No More Optional — WTO DG

    Ghana’s Inflation Rate Drops To 35.2% In October, Lowest In 14 Months

    Ghana: Inflation Drops To 3.2% 

    US Gas Price Rises Above $4 For First Time In Four Years

    US Gas Price Rises Above $4 For First Time In Four Years

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
First with the News

Nigeria: Foreign Creditors May Seize Presidential Jets Over Accumulated Debts

November 27, 2022
in Top Stories
0
Nigeria: Foreign Creditors May Seize Presidential Jets Over Accumulated Debts
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

By John Ikani 

The aircraft in the Presidential Air Fleet are at risk of being impounded by foreign creditors, local news medium PUNCH reports.

Relatedreading

Rwanda Slams US Over Sanctions, Alleges Bias Towards DRC

Missing Arizona Teen Found Alive 32 Years After Mysterious Disappearance

According to the newspaper, PAF was indebted to several service providers for various upgrades carried out on the 10 aircraft in the fleet to meet the required airworthiness.

The PAF provides secure airlift to the President, the Vice-President, their immediate families and other top government officials.

However, due to inadequate funding, it was gathered that some installations on the aircraft had again been postponed to 2023.

The PAF Commander, Air Vice Marshal Abubakar Abdullahi, who stated this in his budget defence presentation at the National Assembly, also complained that only N1.5bn was allocated for the maintenance of the aircraft out of the proposed N4.5bn.

Findings indicate that President Muhammadu Buhari had since 2016 allocated N81.80bn for PAF maintenance and foreign trips.

The amount comprises N62.47bn for the operation and maintenance of the PAF, N17.29bn for foreign and local trips, and N2.04bn earmarked for other related expenses.

The Presidency has maintained 10 aircraft since the inception of the Buhari regime in May 2015.

They are Boeing Business Jet (Boeing 737-800 or NAF 001), one Gulfstream G550, one Gulfstream V (Gulfstream 500), two Falcons 7X, one Hawker Siddeley 4000, two AgustaWestland AW139 helicopters and two AgustaWestland AW101 helicopters.

Though Buhari promised to reduce the size of the fleet as part of his pledge to cut the cost of governance, checks revealed that his regime had failed to live up to this promise.

However, the National Security Adviser, Maj. Gen. Babagana Monguno (retd), delivered the two AgustaWestland AW101 VIP helicopters in the presidential fleet to the Air Force.

But addressing the House Committee on National Security and Intelligence during the budget defence session, the fleet commander explained that the average age of the PAF aircraft was 11 years and in aviation, the cost of maintenance increases proportionally with the age of the aircraft.

Based on the fleet’s experience, Abdullahi explained that the cost of maintaining each aircraft was between $1.5m and $4.5m, depending on the level of maintenance due.

Additionally, the commander revealed that 2023, being an election year, would translate to more missions and spares’ requests for the aircraft due to increased usage.

He also told the lawmakers that the N250m approved for aviation fuel out of the requested N4bn was grossly inadequate; reminding them that aviation fuel, which sold at an average cost of N390 per litre in January, was now being dispensed at N915 per litre.

The fleet commander argued that the N8.072bn allocated for the fleet in the 2023 budget out of the proposed N15.5bn was inadequate to cater for the needs of the fleet.

He, therefore, pleaded for an upward review of the budget.

In the 2022 budget, the PAF proposed N19.4bn, but only N12.4bn was appropriated out of which N11.13bn (98.07 per cent of the total approval) had been released as of October.

Abdullahi stated, “It is pertinent for this honourable committee to note that for successive years, the fleet has been grossly underfunded, which has made it difficult to operate. From the fleet’s records, debts from preceding years are usually carried over into the following budget year and it is becoming a tradition.

“Permit me to also state that most of these debts are owed to service providers overseas. Considering that over 85 per cent of the fleet’s expenditure is forex transactions, the actual budget figure in dollar terms is further diminished.

“The fleet is currently indebted to some of its service providers due to insufficient funding from budgetary allocations and the situation makes it bad for planning. As stated earlier, we currently have to have some mandatory upgrades done on our aircraft so as to meet airworthiness requirements.”

Highlighting the aircraft upgrades that had been paused due to paucity of funds, the air vice-marshal disclosed that two of the fleet’s Falcon 7X aircraft with registration numbers 5N-FGU and 5N-FGV were due for upholstery refurbishment to give the 11-year-old planes a new look.

Abdullahi added, “They are projected for refurbishment in their next maintenance due in December 2022 and July 2023, respectively, which will cost $2.5m each. Furthermore, the fleet’s personnel and aviation insurance premium for the year 2022 amounting to $5.1m is also due for renewal in February 2023. The fleet may not be able to fund these due to a shortfall in the budget.

“The consequences of underfunding the fleet could have adverse effects on safety operations. It may also lead to our nation being embarrassed in the international community either through seizure of the PAF aircraft at foreign airports or maintenance facilities. Moreover, other states may deny the PAF aircraft necessary over-flight permits for foreign missions.”

The senior air force officer noted that aircraft maintenance accounted for 46 per cent of the overall budget proposal and was integral to the overhead cost, adding that the shortfall in the overhead greatly affected aircraft maintenance activities in the fleet.

From the releases made so far, 14 capital projects out of 22 line items were said to have been completed 100 per cent, while the remaining eight are ongoing.

Tags: Air Vice Marshal Abubakar AbdullahibreakingHeritageheritage timesheritagetimesmedialatestnewsNigerian PresidencyPresidential Air Fleetthe heritage timesthtthtafricatop stories
ShareTweetSend
Previous Post

Messi Equals Maradona’s World Cup Feat As Ronaldo Hosts Teammates To Dinner

Next Post

Lessons From Nigeria’s Absence At The World Cup

Related Posts

Rwanda: Kagame Appoints Top Central Bank Official As New PM

Rwanda Slams US Over Sanctions, Alleges Bias Towards DRC

April 3, 2026
Missing Arizona Teen Found Alive 32 Years After Mysterious Disappearance

Missing Arizona Teen Found Alive 32 Years After Mysterious Disappearance

April 3, 2026
US Deports Five Migrants to Eswatini Over ‘Barbaric’ Acts

Uganda Receives First Batch Of US Deportees Amid Growing Controversy

April 3, 2026

Cameroon: Parliament Considers Bill To Create Vice President’s Office

Military Leader Says Burkina Faso Must “Forget” Democracy

Nigeria: Tinubu Complains Of Blackout At Plateau Airport During Condolence Visit 

Next Post
Lessons From Nigeria’s Absence At The World Cup

Lessons From Nigeria’s Absence At The World Cup

Please login to join discussion
  • About
  • HT Management
  • Privacy Policy

© 2025 Heritage Times (HT) Media.

No Result
View All Result
  • Welcome
  • Politics
  • Economy
  • Security
  • Exposé
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Columns
    • Opinion
  • World
  • __________________
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • HT Management
  • About HT
  • Contact us

© 2025 Heritage Times (HT) Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In