The Nation Newspaper

Tag: private jet

  • Reprieve for private jet owners as govt extends timeline for payments

    Reprieve for private jet owners as govt extends timeline for payments

    The Federal Government has granted private jet owners, who defaulted their payments one month to regularise their import duty.

    The Nigeria Customs Service (NCS) had in November last year commenced the clampdown on the private jets for non payment of duty.

    Speaking with The Nation on phone, NCS National Public Relations Officer, Assistant Comptroller of Customs, Abdullahi Maiwada confirmed  the service seizure of the aircrafts from a routine exercise that started since last year, adding that owing to several  engagements, “there was a consensus to give the owners one month to regularise their payments.”

    Maiwada announced the timeline of a window allowing the defaulters time to complete their payments.

    However, some of the owners failed to take advantage of the ultimatum before the time elapsed.

    Meanwhile the recent verification and clampdown by the NCS carried out in the private jet hanger of the Abuja and Lagos airports affected numerous exotic aircrafts, such as the Bombardier Global 6,000; 65,000, and 75,000.

    Read Also: 13 private jets, VP, 10 govs for Taraba gov’s daughter’s wedding

    The NCS traditionally verifies and seizes aircraft for security reasons and revenue generation.

    In August 2021, the service discovered that 30 out of 65 verified jets evaded the payment of duty.

    Some of them had entered into Nigeria with Temporary Importation Agreement which allowed them to bring in jets without payment since they were secured by bonds.

    The NCS would however wait for most of such owners in vain until they are fished out from a verification exercise and confiscated until after regularisation of payments.

  • Fed Govt reviews template for private jet operations

    Fed Govt reviews template for private jet operations

    The Federal Government is weighing options on the template to adopt in regulating the operations of private, business jets operations at airports nationwide.

    The new arrangement, a source familiar with the development hinted is coming on the heels of infractions associated with the operations of private jets in the last few years forcing the government to lose over N120 billion .

    Besides the huge revenue loss, the government, it was learnt is not comfortable with infractions associated with the business jet value , which could jeopardize national security, deepen illicit activities as well as advance drug trafficking and money laundering.

    Part of measures considered to clean up private jet operations may include temporary closure of the General Aviation Terminal (GAT), at Abuja Airport and other aerodromes majorly utilised by fixed based operators.

    The Federal Government is embarking on these measures to enable the country optimise benefits in the burgeoning private jet global market which has grown  from $28.01 billion in 2024 to $30.08 billion in 2025 at a compound annual growth rate (CAGR) of 7.4 per cent.

    The growth in the historic period, experts say is  attributed to rising demand for business travel increasing need for private aircraft, growing wealth among high-net-worth individuals boosted private jet purchases, increasing global economic growth, rising frequency of international travel expanding  the market for long-range private jets and increasing adoption of fractional ownership programs making private flying more accessible.

    Read Also: NGML, Ssonic Petroleum ink strategic gas deal to power Nigeria’s energy future – Ezeala

    Global air transport data base provider : Statista projects that private aircraft market size is expected to see strong growth in the next few years.

    According to Statista data , private jet operations will grow to $39.62 billion in 2029 at a compound annual growth rate (CAGR) of 7.1per cent.

    It projected growth in the forecast period as  attributable to  expansion of on-demand private jet services. It cited the anticipated growth to be triggered by technological advancements in aircraft efficiency and safety, growing emphasis on personalized travel experiences occasioning increase  in private jet usage, increasing number of high-net-worth individuals in emerging economies.

    The data listed other drivers to include : technological advancements by major companies that will introduce more efficient and eco-friendly private aircraft models, increased adoption of sustainable aviation fuel (SAF), the rise of hybrid and electric private aircraft , which is  expected to transform the industry, growing demand for customized and luxury interiors.

    Only last week, Minister of Aviation and Aerospace Development, Mr Festus Keyamo  vowed to tackle all illegal chartered operations and related matters in Nigeria.

    Keyamo spoke  while receiving the report of the seven-member committee on illegal chartered operations and related matters at the ministry’s headquarters in Abuja.

    The minister said the issue of illegal charter operations by private jets and private aircraft owners has been besetting Nigeria’s aviation sector.

    He said those who obtain licences under the permit for non-commercial flight (PNCF) use the aircraft for other illegal transactions.

    Keyamo said the federal government is poised to mitigate the acts, pledging that his ministry will not fail to safeguard the aviation industry in line with its mandate.

     “This practice has been going on for many years before I became Minister, but I thought there was a need to confront it headlong,” he said.

     “When you cannot track them, it leads to money laundering, drug trafficking, illegal entry and exits into the country and all kinds of illegal activities.”

    Keyamo commended the efforts of the task force in producing the report and outlining recommendations to tackle the challenge.

    He assured that the ministry would critically examine the report and its recommendations, stressing that it would not be swept under the carpet.

    Meanwhile, during the presentation of the report, Ado Sanusi, chairman of the task force, said the committee conducted a thorough investigation into illegal private charter operations in Nigeria and identified critical challenges which include regulatory weaknesses, loopholes in the PNCF system, inadequate oversight, security vulnerabilities, and significant revenue losses to the government.

    Sanusi said the findings pose risks to aviation safety and also create an uneven playing field for legitimate operators.

    He said part of the committee’s recommendations is that the government should strengthen regulatory oversight, enhance security measures, improve compliance with aviation laws, and ensure that private charter operations are conducted transparently and in line with international standards.

    He appealed to the minister to ensure a quick implementation of the suggestions, saying they would create an economically viable aviation industry in Nigeria.

  • Report reveals infractions in private jet operations

    Report reveals infractions in private jet operations

    • Fingers foreign registered airplanes owned by high net worth persons
    • Using opaque passenger manifesting

    A Ministerial Task Force on Illegal Air Charter Operations and Related Matters, which the Federal Government set up, has uncovered a number of infractions among the activities in private jet value chain in the aviation sector.

    A preliminary report released at the weekend by the committee revealed how foreign registered aircraft allegedly used as private jets by high net worth persons were involved in illegal charter operations.

    The committee’s report also exposed alleged non-adherence to civil aviation regulations by owners/operators of such aircraft to the category of permit they carry, which restricts them to Private Non-Commercial Flight (PNCF).

    The violation, the committee said, resulted in huge revenue loss to the Federal Government and its agencies.

    In its preliminary report, the committee also alleged that the illicit act was not limited to small-time operators alone, saying the conditions attached to the issuance of the PNCF were violated by the operators.

    The report also revealed that the industry apex regulatory body, the Nigeria Civil Aviation Authority (NCAA), also failed to enforce the conditions on PNCF to the private jet owners.

    In a bid to beat the system, the task force alleged that the violators of the licences used a non-existing passenger manifest, which made it difficult to trace.

    Read Also: Exposing the illicit operations of private jets

    The report said: “We have indeed uncovered the prevalence of illegal air charter operations in the country. Even more alarming is the fact that we have uncovered that these illegal air charter operations are not only restricted to small time operators, but also include some high-net-worth individuals, using their private jets.

    “Opaque Passenger Manifesting, conflicting/inadequate regulatory issues. Most of the complicit aircraft are foreign registered removing them from the close scrutiny of the NCAA. This is a huge revenue loss to the coffers of the Federal Government.”

    Aviation and Aerospace Development Minister Festus Keyamo, on June 27, inaugurated the task force on Illegal Air Charter Operations and other Related Matters.

    This followed several complaints lodged by commercial air charter operators and on the back of disturbing security reports emanating from the security institutions alleging, amongst others, money laundering and drug smuggling operations.

    The task force was given three months to complete its report and submit same to the ministry.

    Few weeks earlier, the National Security Adviser (NSA) to President Bola Tinubu, Mallam Nuhu Ribadu, had raised the alarm over money laundering, drug trafficking and other illegal activities at the nation’s airports through the use of private jet operators.

  • CBN: EMEFIELE DOES NOT USE PRIVATE JETS

    CBN: EMEFIELE DOES NOT USE PRIVATE JETS

    The Central Bank of Nigeria (CBN) has refuted reports that its governor, Godwin Emefiele, travelled in a private jet to bury his mother.

    A statement from the apex bank’s Acting Director of Communications, Isaac Okoroafor, said: “Mr. Emefiele and his family flew a commercial Arik flight from Lagos to Benin for their mother’s burial.”

    Okoroafor further explained: “In 2015, in response to the economic downturn and cost-cutting stance of government, Mr. Emefiele ordered the stoppage of the use of chartered flights by the bank.

    “Since then, neither Mr. Emefiele nor any of the Deputy Governors has used the services of private chartered flights and the CBN has not paid a kobo for private jet services.”

    He added the governor and other principal officers of the CBN “have religiously maintained the modest disposition of using regular flights, including doing several trips by road to and from different parts of the country.”

    Okoroafor said no private jet was used by Emefiele, his immediate family or other principal officers of the bank during the burial of Emefiele’s mother.

    For several years in the past, the CBN, Okoroafor said, used private and official chartered flights in making urgent travels to meet needs in remote, not-easily- accessible locations or in cases where timing might be critical to matters of urgent national importance.

    This practice he pointed out was in place long before Emefiele took over.

    “In fact it is on record that the past two CBN governors actively used chartered private jet services to meet urgent national assignments.”

    Okoroafor added that in recognition of this critical need in its smooth operations, the CBN had in the 1990s acquired a dedicated jet for this purpose and urgent currency movement.

    He said it was, however, taken over by the military administration when there was a more urgent need for it at the State House.

    Thereafter, the CBN occasionally used the chartered services of private operators and those of the Presidential Fleet when available, both of which were paid for, he added.

    “All accounts still point to the fact that the Emefiele’s mother’s burial was a model in cost-cutting and an uncommon demonstration of his modest, made- in- Nigeria philosophy,” Okorafor said.

  • Tony Elumelu acquires new private jet

    Tony Elumelu acquires new private jet

    It is a world of different strokes for different folks. While the country battles economic depression, wealthy Nigerians are having a swell time. And these include the Chairman of United Bank for Africa (UBA), Mr. Tony Elumelu.

    The popular banker has just added a brand new Falcon 7X private jet to his fleet of exotic ‘toys’. Those who have seen the new acquisition say it is one of the most luxurious.

    In acquiring the jet, Elumelu is said to be motivated by the need to travel with utmost comfort as he attends to his businesses beyond the shores of Africa.

    Luxury cars, yachts and private jets have become status symbols around the world and wealthy Nigerians are not left out of the vogue.

  • Making the rich pay

    Making the rich pay

    •New FG regulations will charge private jet owners and priority air travellers

    In view of the prevailing financial crisis owing, first, to the mismanagement of the nation’s economy, and, second, to the slump in crude oil prices, the Federal Government has woken up to its responsibility of making wealthy  Nigerians pay taxes for the luxury they enjoy. Under the new dispensation meant to generate money, the Federal Government is expected to earn about N37.9bn annually from luxury tax to be imposed on private jet owners. This measure is also extended to air travellers in first class and business class passengers of aircraft.

    In order to increase its revenue profile, the Federal Government had, in April, 2015 announced, through its minister of finance, that all local owners of foreign and private jets in the country would pay a surcharge of N3,200 per kilogramme on the weight of each aircraft annually. From the increasing foreign travels by Nigerians, all first class and business class passengers would pay a flat rate of N15, 000 each as surcharge for overseas trip.

    This means that on the Lagos-London route, economy tickets sell currently for between N220,000 as the summer approaches; business class tickets sell for between N850,000 and N1.2m, and first class tickets sell for between N2.5m and N3.5m depending on the airline. On private jets, it is estimated that all private jet owners in the country will pay an approximate of N7.9bn on luxury tax annually, while overseas passengers travelling in first class and business cabins will pay about  N30bn as travel surcharge adding up to N37.9bn (approximately N38bn) from air travel sub sector. According to available statistics from the Nigerian Civil Aviation Authority, there are over 190 local and foreign private jets in the country as of today.

    This is a good, even if belated move by the Federal Government. In many countries, wealthy people pay, sometimes through their nose, for the luxury they enjoy. With the country’s economy in dire straits, and about $60bn debt left for the incoming Muhammadu Buhari administration, the government surely needs a lot of money now. In this regard, we expect the Federal Government to be more creative in getting money from wealthy Nigerians who hardly pay correct taxes on their investment on landed properties, especially luxury buildings that dot our major cities. We should not forget individuals who own yachts, speedboats, polo grounds, golf fields and similar luxury items. They too should pay something into government’s coffers.

    Be all these as they may, we warn that no amount of taxes generated from oil and tax on all luxury items will solve our financial problem unless the Federal Government has the political will to block all the leakages that lend themselves to corruption. We all know that the country has made a lot of money from excess crude oil earnings over the years, yet the country is broke as a result of corruption.

    The bottom line, therefore, is for the Federal Government to tame corruption in all areas of our economy, bring more people who presently evade tax into the tax net because tax is an important revenue generation platform. Above all, the government must be ready to pay more than lip service to diversification of sources of revenue generation, apart from crude oil.

     

  • Overland chief advises private jet licencees on honesty

    Overland chief advises private jet licencees on honesty

    The Chief Executive Officer,  Overland Airways, Capt Edward Boyo, has said airline operators must not only obey regulations, but also ensure  that its licences and certificates are used the purposes they were approved for.

    Boyo’s warning is coming on the heels of the running battle between the Nigerian Civil Aviation Authority (NCAA) and 22 private jet owners, who were given Airline Operator’s Certificates (AOCs) to carry out private operations, but instead were allegedly running revenue operations.

    Aviation business, he said, is a major contributor to economic growth and should be given adequate political support to thrive. Policy and regulations, he said, should be reviewed and implemented to develop the sector.

    Boyo said there was need to enhance the processing of flight permits and related documentation and that stakeholders should improve funding, insurance and other support for business aviation in Nigeria.

    He said to boost safe flying, capacity development and safety management systems, should be emphasised by operators.

    The NCAA, he said, should beef up its technical capacity to strengthen its regulatory oversight, providing for adequate capacity,while security regulation should be shored up in the face of emerging threats.

    He also said  the Federal Government should strengthen the enforcement of regulations and policies to ensure fair play in aviation busines, adding that operators should contribute to the development of local capacity.

    Also, Boyo said periodically, aviation business policies should be reviewed in line with global practices, adding that there is need for adequate security.

    He said the effectiveness of the Nigerian Civil Aviation Regulations (NCARs) are dependent on NCAA’s capacity, as well as the willingness of operators to comply with the agency’s regulations.

    He, however, pointed out that one major area of difficulty and resistance to NCAA’s regulation is the use of licences and certificates for illegal operations, such as using licences for private operations to carry out commercial operations.

    This, Boyo added, has prompted the NCAA to warn operators to regularise their licences and certificates and streamline their operations.

  • Private jet owners get 90-day ultimatum on operations

    Federal Government has issued a 90 day ultimatum to private jet owners to streamline their operations with civil aviation  regulations .
    This ultimatum was given on Sunday at the conclusion of a meeting between the officials of the Ministry of Aviation and the stakeholders in the General Aviation sector which includes  all the owners and operators of private jets.
    The Permanent Secretary, Ministry of Aviation, Alhaji Mohammed Abass, gave the ultimatum after the meeting which lasted for several hours at Abuja.
    As part of the unanimous decisions at the meeting, the blanket ban on the operators of foreign registered privately operated aircraft in the country has been lifted with conditions attached.
    In a statement issued by the NCAA’s spokesman Mr Fan Ndubuoke , the authority said :”
    ” In furtherance of the Ministry of Aviation’s calculated efforts to streamline the operations of the Private Jets Owners, a 90 days ultimatum have been given to them to come up with their operational preference.
    “As earlier indicated, the 90 days ultimatum is one of the conditions, during which it is expected that all operators would have regularise their documentation to specify their choice of operation.
    “However, during this moratorium, it is still subsisting that no private Jet owner will be allowed to surreptitiously convert his Jet for commercial purposes.”
    At the end, it was agreed by all present at the meeting that any violator during the ultimatum and at expiry will be visited with much more stiffer penalties than earlier earmarked.

  • Hardball needs a private jet!

    Woe alas! I have just wised up; no, I have just grown up! I had always wondered why Nigerians suddenly caught the bug of owning private jets (PJs). It must be a crazy man who would shell out between N450 to N500 million to buy one iron bird, I had conjectured in my naïve, child-like mind. Why, a man could build a new town in a corner of the country instead of buying a PJ, a wasting asset, but how plebian, how simple of mind can anyone be!

    From recent discovery, any Nigerian above the age of 18 who does not aspire to own a PJ in the next few months must be a moron. And here are reasons why. One, Nigeria is a supremely rich country and can well afford every Nigerian male a jet of his own. And don’t be a fool to wonder for a second where you will park your PJ, just tell yourself ‘I will park mine where others park theirs. Remember nobody brought parking space from his village.

    Another reason you must not be squirmy about seeking to own a jet of your own today is that it is extremely comfortable. Those who revel in it are quick to regal you with stories about the hedonistic comforts of that toy. It is said that if you flew in it once, you will never wish to fly any other way. In fact they say you will simply come to the realisation that it is indeed a curse to have been flying in those air-molues. Further, if it happens to be the kind fitted with water-bed and Jacuzzi like some of our federal ministers fly, then you will realise that paradise is actually a Nigerian reality and not a celestial construct.

    A third reason you must do anything to own a PJ now (!) is that the rate  the PJ cult is growing, in a couple of years, the DNA of the true Nigerian will be determined not just by the ownership of a PJ but by the number and type of your PJ. Then there will only be two classes of Nigerians – the PJ owners and the hoi polloi. And do not say I didn’t warn you dear reader, when that time comes, it would be easy to determine, or if you like, control the population of the country.

    One innocuous way they – the jet-set, super-rich, super-class – can set about eliminating some of us dregs is to fly up mid-air above our heads in their PJs, they and their kinds and let off a napalm of farting that can exterminate half of us. That way even the UN would not accuse them of using chemical weapons; it would simply be termed accidental discharge from acute bowel disorder. And the case will be closed.

    Perhaps the most important reason you must die for a private jet is that once you own one, you will never be poor again. Opportunities will open to you as if you were an Arabian sheikh. There is nothing you cannot do with your PJ backed by federal might. You can haul currencies for the federal government, ship arms for the security community and carry human cargo and body part for the Baby Factory Group of the Manufacturers Association. Everything is legit with a PJ.

    Ah my boy, in all your getting, get yourself a PJ pronto!

  • Scott Tommey pampers self with private jet

    Scott Tommey pampers self with private jet

    That Scott Tommey is doing well for himself as one of the smartest entrepreneurs around is a fact that can hardly be disputed. And saying that the Managing Director and Chief Executive Officer of Osmoserve Global Limited has an exquisite taste would amount to stating the obvious.

    Information reaching Happenstances now is that a few days ago, he acquired a brand new private jet as a birthday gift for himself. Those who sighted the private jet informed Happenstances that the Bombadier Challenger is one of the latest and most luxurious jets around.

    Some of his close friends are still celebrating the new acquisition with him in London where he is currently taking a short break from his tedious schedule.