See how federal government made N10bn from 146 private jet owners

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private jets

New Telegraph reports that the federal government is making over N10 billion from operators of 146 private jets in Nigeria.

The Nigerian Civil Aviation Authority (NCAA) confirmed as at August 2016, that there are 146 corporate jets in the country of which only 46 were registered in Nigeria while 100 have foreign registration.

We gathered that the total amount in taxes, charges, over-flier, landing and parking, is over N10 billion annually.

According a jet owner who spoke under condition of anonymity, the taxes could be as high as N47.9 billion should the federal government make good its plan to go ahead to add luxury taxes on foreign and indigenous jet owners, as well as first class and business class passengers in the country.

It is also gathered that the Nigerian Airspace Management Agency (NAMA) charges N15,000 navigation fees for a return trip for each jet.

For each touch down landing fees cost between N3,000 and N5,000 and more for large commercial aircraft that pay between N12,000 and N15,000 depending on the weight of the aircraft.

Taking an average maximum take-off weight of 13,000kg per jet and using the N3,000 surcharge, the federal government generates approximately N41.6 million annually from each private jet owner.

If this is multiplied by the 146 private jets in the country, the government is expected to generate about N7.5 billion from the sector, excluding other charges.

Private jet owners pay N3,000 for hourly parking of their aircraft in any airport across the country and according to the weight of airplane.

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Some of the common brands and models of the private jets in Nigeria include the Bombardier Challenger 604 and 605; Global Express, Global 6000; Hawker Siddley 125 and 900; Gulfstream 450, 550 and 650; Embraer Legacy, Fenum and Citation.

Others are the Hawker Sidley, Embraer and Bombardier, which cost range between $25 million and $40 million.

The Gulfstream G650, said to be state-of-the art, costs $65 million. It’s the biggest, fastest, and overall best private jet money can buy. Many wealthy Nigerians own this aircraft type. Most jet owners switch jets every four to five years.

It cost between $1.2 million and $4 million per year to run private aircraft. Over 30 of these jets converged at Minna Airport last Friday when the daughter of former military President Ibrahim Babangida got married, as affluent Nigerians flew in their jets.

Mohammed Tukur, a former assistant secretary-general of airline operators of Nigeria, told New Telegraph that the cost of flying a jet can vary from $1 million to $100 million. He said some of the other costs are a bit more consistent.

Quarterly, the 146 operators spend roughly $36.5 million and $146 million annually just for maintenance of their luxury jets.

 

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