• 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

4 years ago
Ethiopia Says It Will Not Go To War With Eritrea Over Red Sea Access

Ethiopia: PM Abiy Sets Up Interim Govt In Tigray After Escalations

3 hours ago
South Africa: Chained Patients Rescued, Pastor Arrested In Illegal Rehab Centre

South Africa: Chained Patients Rescued, Pastor Arrested In Illegal Rehab Centre

3 hours ago
Mozambique President Sacks Education Minister After Backlash

Mozambique President Sacks Education Minister After Backlash

1 day ago
UN Warns Of Escalating Violence In Dr Congo Despite Peace Efforts

UN Warns Of Escalating Violence In Dr Congo Despite Peace Efforts

1 day ago
Nigeria’s Sacrifice For Sierra Leone’s Peace Will Never Be Forgotten — Former VP

Nigeria’s Sacrifice For Sierra Leone’s Peace Will Never Be Forgotten — Former VP

2 days ago
Saturday, October 17, 2026
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • HT Management
  • About HT
  • Contact
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Ethiopia Says It Will Not Go To War With Eritrea Over Red Sea Access

    Ethiopia: PM Abiy Sets Up Interim Govt In Tigray After Escalations

    DR Congo: Kabila Joins Forces With M23 Rebels, Forms New Coalition To Challenge Tshisekedi

    DR Congo: Kabila Joins Forces With M23 Rebels, Forms New Coalition To Challenge Tshisekedi

    Trump Calls For Zelensky’s Replacement As Ukraine’s President To End Russian War

    Trump Calls For Zelensky’s Replacement As Ukraine’s President To End Russian War

    Malawi: Why Does Mutharika Keep Travelling To South Africa? Fifth Trip In One Year Sparks Fresh Debate

    Malawi: Why Does Mutharika Keep Travelling To South Africa? Fifth Trip In One Year Sparks Fresh Debate

    Ethiopia Renews Demand To Access Red Sea As Tension With Neighbours Rises

    Ethiopia Renews Demand To Access Red Sea As Tension With Neighbours Rises

    Guinea-Bissau Gives Portuguese Journalists Aug. 19 Ultimatum To Leave

    Guinea-Bissau: Ousted President Embalo To Seek Election December

    King Of Morocco Appoints First Female Prime Minister

    King Of Morocco Appoints First Female Prime Minister

    Brazilian President, Lula Slams Trump Over Attempt To Govern Other Countries

    Brazilian President, Lula Slams Trump Over Attempt To Govern Other Countries

    US: Trump Lists 25 ‘Top Achievements’ Ahead Of Midterm Elections

    US: Trump Lists 25 ‘Top Achievements’ Ahead Of Midterm Elections

  • Economy
    Nigeria, AfDB Move To Unlock $6.2bn Portfolio To Fast-Track Projects

    Nigeria, AfDB Move To Unlock $6.2bn Portfolio To Fast-Track Projects

    Africa Must Move Beyond Raw Materials To Build Global Industrial Power – Adesina

    Africa Must Move Beyond Raw Materials To Build Global Industrial Power – Adesina

    IMF To Visit Senegal In August, With Focus On Hidden Debts, New Disbursements

    IMF To Release $200m Financial Package For Niger

    Presidency Reacts As Nigeria Exits IMF’s Debtors List

    Nigerian Government Offers 30-Day Discount On Petrol To Citizens

    Five Countries Push Ahead With €13bn North Africa-Europe Hydrogen Corridor

    Five Countries Push Ahead With €13bn North Africa-Europe Hydrogen Corridor

    AU Officially Unveils Africa’s First Credit Rating Agency

    AU Officially Unveils Africa’s First Credit Rating Agency

    Kenya: Ruto Orders 10-Day Pension Payment Period For Retirees

    Kenya: Ruto Orders 10-Day Pension Payment Period For Retirees

    African Leaders Seek Homegrown Capital To Power Continent’s Growth

    African Leaders Seek Homegrown Capital To Power Continent’s Growth

    Kenya: Lamu Residents Raise Environmental Concerns Over $16bn Dangote Refinery

    Kenya: Lamu Residents Raise Environmental Concerns Over $16bn Dangote Refinery

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Ethiopia Says It Will Not Go To War With Eritrea Over Red Sea Access

    Ethiopia: PM Abiy Sets Up Interim Govt In Tigray After Escalations

    DR Congo: Kabila Joins Forces With M23 Rebels, Forms New Coalition To Challenge Tshisekedi

    DR Congo: Kabila Joins Forces With M23 Rebels, Forms New Coalition To Challenge Tshisekedi

    Trump Calls For Zelensky’s Replacement As Ukraine’s President To End Russian War

    Trump Calls For Zelensky’s Replacement As Ukraine’s President To End Russian War

    Malawi: Why Does Mutharika Keep Travelling To South Africa? Fifth Trip In One Year Sparks Fresh Debate

    Malawi: Why Does Mutharika Keep Travelling To South Africa? Fifth Trip In One Year Sparks Fresh Debate

    Ethiopia Renews Demand To Access Red Sea As Tension With Neighbours Rises

    Ethiopia Renews Demand To Access Red Sea As Tension With Neighbours Rises

    Guinea-Bissau Gives Portuguese Journalists Aug. 19 Ultimatum To Leave

    Guinea-Bissau: Ousted President Embalo To Seek Election December

    King Of Morocco Appoints First Female Prime Minister

    King Of Morocco Appoints First Female Prime Minister

    Brazilian President, Lula Slams Trump Over Attempt To Govern Other Countries

    Brazilian President, Lula Slams Trump Over Attempt To Govern Other Countries

    US: Trump Lists 25 ‘Top Achievements’ Ahead Of Midterm Elections

    US: Trump Lists 25 ‘Top Achievements’ Ahead Of Midterm Elections

  • Economy
    Nigeria, AfDB Move To Unlock $6.2bn Portfolio To Fast-Track Projects

    Nigeria, AfDB Move To Unlock $6.2bn Portfolio To Fast-Track Projects

    Africa Must Move Beyond Raw Materials To Build Global Industrial Power – Adesina

    Africa Must Move Beyond Raw Materials To Build Global Industrial Power – Adesina

    IMF To Visit Senegal In August, With Focus On Hidden Debts, New Disbursements

    IMF To Release $200m Financial Package For Niger

    Presidency Reacts As Nigeria Exits IMF’s Debtors List

    Nigerian Government Offers 30-Day Discount On Petrol To Citizens

    Five Countries Push Ahead With €13bn North Africa-Europe Hydrogen Corridor

    Five Countries Push Ahead With €13bn North Africa-Europe Hydrogen Corridor

    AU Officially Unveils Africa’s First Credit Rating Agency

    AU Officially Unveils Africa’s First Credit Rating Agency

    Kenya: Ruto Orders 10-Day Pension Payment Period For Retirees

    Kenya: Ruto Orders 10-Day Pension Payment Period For Retirees

    African Leaders Seek Homegrown Capital To Power Continent’s Growth

    African Leaders Seek Homegrown Capital To Power Continent’s Growth

    Kenya: Lamu Residents Raise Environmental Concerns Over $16bn Dangote Refinery

    Kenya: Lamu Residents Raise Environmental Concerns Over $16bn Dangote Refinery

  • 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
Home Top Stories

Nigeria: Foreign Creditors May Seize Presidential Jets Over Accumulated Debts

November 27, 2022
in Top Stories
0 0
0
Nigeria: Foreign Creditors May Seize Presidential Jets Over Accumulated Debts
148
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

Ethiopia: PM Abiy Sets Up Interim Govt In Tigray After Escalations

South Africa: Chained Patients Rescued, Pastor Arrested In Illegal Rehab Centre

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

Ethiopia Says It Will Not Go To War With Eritrea Over Red Sea Access

Ethiopia: PM Abiy Sets Up Interim Govt In Tigray After Escalations

October 16, 2026
South Africa: Chained Patients Rescued, Pastor Arrested In Illegal Rehab Centre

South Africa: Chained Patients Rescued, Pastor Arrested In Illegal Rehab Centre

October 16, 2026

Mozambique President Sacks Education Minister After Backlash

UN Warns Of Escalating Violence In Dr Congo Despite Peace Efforts

Guinea-Bissau Denies Approving Hepatitis B Vaccine Trial In Newborns

US: Supreme Court To Review Asylum Case Of Nigerian National Who Cooked For Gunmen

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
AfriHeritage Magazine Issue 3 - Cover 1 AfriHeritage Magazine Issue 3 - Cover 1 AfriHeritage Magazine Issue 3 - Cover 1
AfriHeritage Magazine 2026 AfriHeritage Magazine 2026 AfriHeritage Magazine 2026

Updates

  • Trending
  • Comments
  • Latest
$1bn Arms Controversy: Former Nigerian Army Chief Wants Defence Ministry To Publish Procurement Records

$1bn Arms Controversy: Former Nigerian Army Chief Wants Defence Ministry To Publish Procurement Records

October 12, 2026
Africa Must Move Beyond Raw Materials To Build Global Industrial Power – Adesina

Africa Must Move Beyond Raw Materials To Build Global Industrial Power – Adesina

October 11, 2026
Euro Qualifier: France Record Historic Victory In 14-Goal Thrashing Of Gibraltar 

Euro Qualifier: France Record Historic Victory In 14-Goal Thrashing Of Gibraltar 

November 19, 2023
Iheanacho Helps Leicester City Win First Community Shield Title In 50 years

Iheanacho Helps Leicester City Win First Community Shield Title In 50 years

August 7, 2021
Mozambique President Sacks Education Minister After Backlash

Mozambique President Sacks Education Minister After Backlash

0
UN Warns Of Escalating Violence In Dr Congo Despite Peace Efforts

UN Warns Of Escalating Violence In Dr Congo Despite Peace Efforts

0
Nigeria’s Sacrifice For Sierra Leone’s Peace Will Never Be Forgotten — Former VP

Nigeria’s Sacrifice For Sierra Leone’s Peace Will Never Be Forgotten — Former VP

0
Guinea-Bissau Denies Approving Hepatitis B Vaccine Trial In Newborns

Guinea-Bissau Denies Approving Hepatitis B Vaccine Trial In Newborns

0
Ethiopia Says It Will Not Go To War With Eritrea Over Red Sea Access

Ethiopia: PM Abiy Sets Up Interim Govt In Tigray After Escalations

October 16, 2026
South Africa: Chained Patients Rescued, Pastor Arrested In Illegal Rehab Centre

South Africa: Chained Patients Rescued, Pastor Arrested In Illegal Rehab Centre

October 16, 2026
Mozambique President Sacks Education Minister After Backlash

Mozambique President Sacks Education Minister After Backlash

October 15, 2026
UN Warns Of Escalating Violence In Dr Congo Despite Peace Efforts

UN Warns Of Escalating Violence In Dr Congo Despite Peace Efforts

October 15, 2026

Most Recent

Ethiopia: PM Abiy Sets Up Interim Govt In Tigray After Escalations

October 16, 2026

South Africa: Chained Patients Rescued, Pastor Arrested In Illegal Rehab Centre

October 16, 2026

Mozambique President Sacks Education Minister After Backlash

October 15, 2026

UN Warns Of Escalating Violence In Dr Congo Despite Peace Efforts

October 15, 2026

Nigeria’s Sacrifice For Sierra Leone’s Peace Will Never Be Forgotten — Former VP

October 15, 2026

Guinea-Bissau Denies Approving Hepatitis B Vaccine Trial In Newborns

October 13, 2026

US: Supreme Court To Review Asylum Case Of Nigerian National Who Cooked For Gunmen

October 13, 2026

US Flags Nigeria Over Child Soldiers, Threatens Restrictions On Military Aid

October 13, 2026

About

Heritage Times HT stands as a beacon of pan-African journalism, dedicated to amplyfing the rich tapestry of voices and narratives across the continent. With unwavering commitment, we illuminate the evocative essence of Africa, offering a fresh perspective that captivates our global audience.

Featured

A Nuclear-Armed North Korea As A Metaphor For The ‘Safe State’

One Year of Transformative Stewardship: Walson-Jack’s Innovative Impact on Nigeria’s Civil Service

Africa’s Largest Tech Event, MWC25 Kigali, Returns With Focus On Innovation, Policy

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

  • About
  • HT Management
  • Privacy Policy

© 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
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.