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Government Expects N20b From Sale of Presidential Jets



president buhari
  • Government Expects N20b From Sale of Presidential Jets

Not less than N20 billion (about $50 million) is expected by the Federal Government from the sale of two out of the 10 airplanes in the presidential fleet.

The figure, according to sources, is based on “the current market value” of Falcon 7X and Hawker 4000, as well as their year of entry into service (still recent) and the short distance they have travelled till date.

Aviation experts corroborated the valuation of the aircraft, with some telling the office of the National Security Adviser (NSA) that the two aircraft can be conveniently auctioned between the range of $50 milion and $70million in the current market.

In a related development, stakeholders in the aviation industry have urged governments at all levels to start patronising domestic airlines for the growth of the economy and desist from the rather extravagant and unsustainable ownership of jets or airline. They said this against the backdrop of states that still own and others still planning to buy private jets amidst economic recession.

The Chairman, Panel for Sale of Aircraft, Office of the National Security Adviser, last Tuesday put up an advertorial for the auction of two presidential jets – Falcon 7X and Hawker 4000 aircraft.

The Guardian learnt at the weekend that bidders have been pouring in both from home and abroad to check the Falcon 7X at the Nnamdi Azikiwe International Airport, Abuja. The Hawker 4000 aircraft is in Zurich, Switzerland.

Our source, who would not want to be mentioned said though the aircraft were for auction, the authorities were looking for a very good bid in the neighbourhood of $50million for the two planes.

At the current market rate, a new Falcon 7X costs $53million and the Hawker 4000 costs $22.9million.

Government bought the Falcon 7X in 2011 at the cost $50 million. It is a three-engine cantilever monoplane with a low-positioned, high swept wing, with a horizontal stabiliser at mid-height and a retractable tricycle landing gear.

The estimated value of all the 10 aircraft in the fleet of the presidency is put at over $450 million, with about N8 billion spent on maintenance and fuel yearly.

Capt. Dung Rwang Pam said given the extra features during initial purchase, usage and maintenance among others, these aircraft should be valued between $50 million and $70 million.

Pam, who is the Chief Pilot at XE Jet, told The Guardian that the aircraft’s types were for the very rich, hence should also be expensive selling them.

He said in other climes, the bid would have been for between 60 and 70 per cent of the initial cost, given the short mileage they have covered since they were bought by the government.

Pam, however, expressed concern that the system may short-change the government in the bidding process.

Managing Director of Aglow Aviation Support Services, Tayo Ojuri, said the white elephant projects – either state-owned jets or airline – are unnecessary and unrealistic amidst seething poverty across the states.

Meanwhile, the Nigerian Air Force has said the two aircraft acquired from the presidential fleet would be reconfigured to suit its operational purposes.

The two aircraft were received from the National Security Adviser (NSA) Maj. Gen. Babagana Mongono (rtd), by the Minister of Defence Mansur Dan-Ali on behalf of the Air Force at the presidential wing of the Nnamdi Azikiwe International Airport.

The Chief of Air Staff, Air Marshal Sadique Abubakar while receiving the planes on behalf of NAF, said they would add impetus to the counter- insurgency operation in the North east as the reconfiguration would enhance operational success.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq,, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Vice-President Harris Gathers Momentum as Democratic Nominee



Kamala Harris

Vice-President Kamala Harris has secured the support needed to become the Democratic nominee for president.

This was after President Joe Biden announced he would not seek re-election, endorsing Harris as his successor.

According to CBS News, Harris has received endorsements from over 1,976 delegates, surpassing the threshold needed to clinch the nomination in the first round of voting at the Democratic National Convention (DNC) scheduled for August.

Delegations from at least 27 states have expressed full support, showcasing a strong backing across the nation.

In her address to campaign staff in Wilmington, Delaware, Harris expressed gratitude for the widespread support, adding that she committed to uniting the party and the country.

“We have 106 days until Election Day, and in that time, we have some hard work to do,” she stated.

Harris laid out her vision for America, contrasting it with that of her likely opponent, Donald Trump.

Speaking on the direction of the campaign thus far, she said “Our campaign has always been about two different versions of what we see as the future of our country. One focuses on the future, the other focuses on the past.”

She acknowledged the accomplishments of the Biden administration, highlighting her pride in serving as vice-president.

“My time serving as vice-president was one of the greatest honors of my life,” Harris said, underscoring her dedication to continuing the work they started.

In a phone call to his campaign team, Biden praised Harris, urging his supporters to rally behind her. “I’m hoping you’ll give every bit of your heart and soul that you gave to me to Kamala,” he said.

Despite stepping back from the race, Biden vowed to remain actively involved in supporting Harris and emphasized the importance of defeating Trump, calling him “a danger to this nation.”

Harris’s nomination marks a significant milestone, but challenges remain. The campaign will focus on addressing key issues such as healthcare, climate change, and economic inequality.

With millions of dollars pouring into her campaign since Biden’s announcement, Harris aims to capitalize on the momentum and build a coalition that appeals to a broad spectrum of voters.

As the DNC approaches, Harris is expected to formally accept the nomination, solidifying her position as the Democratic leader.

The coming months will be crucial as she works to unite the party and reach out to undecided voters. With her historic nomination, Harris stands poised to make a lasting impact on the future of American politics.

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President Declines Nomination, Endorses Harris for 2024



In a significant political announcement on his account, President Joe Biden has decided to forgo the opportunity to seek re-election in 2024, instead throwing his full support behind Vice President Kamala Harris.

The surprise move, shared with the public this morning, represents a pivotal moment in the Democratic Party’s journey toward the upcoming presidential election.

In his statement, Biden said that his choice to step aside is driven by a desire to concentrate on his remaining duties as President.

He expressed gratitude for the opportunity to serve alongside Harris, calling her selection as his Vice President in 2020 “the best decision” he has made. “My fellow Democrats,” Biden began, “I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term.”

The President’s announcement signifies a strategic shift in the 2024 election landscape. By endorsing Kamala Harris, Biden not only aims to consolidate support within the party but also to set the stage for a unified front against former President Donald Trump.

“Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year,” Biden declared. “Democrats — it’s time to come together and beat Trump. Let’s do this.”

This endorsement comes as a surprise to many, given Biden’s earlier commitment to seeking re-election.

However, it reflects a broader strategic maneuver to ensure party unity and strengthen the Democratic position in the face of a formidable opponent. By focusing on Harris, Biden aims to leverage her growing popularity and political acumen to fortify the party’s chances in the upcoming election.

Kamala Harris, who has served as Vice President since January 2021, will now be thrust into the spotlight as the presumptive Democratic nominee.

Her campaign is expected to build on the legacy of the current administration while addressing key issues facing the nation.

The move also raises the stakes for the Republicans, who will need to prepare for a robust campaign from a seasoned political leader in Harris.

As the 2024 election cycle ramps up, Biden’s endorsement is likely to reshape the dynamics of the race, influencing both Democratic strategies and Republican responses.

The coming months will be critical as Harris and her team work to solidify their platform and rally support from voters across the nation.

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Kagame Dominates Election with 99.15% of Votes Counted



President Paul Kagame has taken a commanding lead in the Rwandan presidential election, securing 99.15% of the votes counted thus far, according to the National Electoral Commission.

The provisional results, reported by the state broadcaster Rwanda Broadcasting Agency, indicate a decisive victory for the Rwandan Patriotic Front candidate.

With 79% of the ballots tallied, Kagame’s overwhelming lead leaves his opponents trailing significantly.

Frank Habineza of the Democratic Green Party of Rwanda has garnered only 0.53% of the votes, while independent candidate Philippe Mpayimana has received 0.32%.

The voter turnout has been reported at an impressive 98%, underscoring the high level of public engagement in the electoral process.

The early results suggest a strong mandate for Kagame, who has been at the helm of Rwandan politics since 2000.

Kagame’s administration has been marked by significant economic growth and development, but it has also faced criticism for its stance on political dissent and freedom of expression.

Despite this, Kagame remains a highly popular figure in Rwanda, with many citizens crediting him for the country’s stability and progress.

The National Electoral Commission is expected to release the final results in the coming days. As the tallying continues, Kagame’s supporters have already begun celebrating his anticipated victory.

Analysts believe that Kagame’s likely re-election will provide continuity in Rwanda’s economic policies and development programs.

However, they also call for more inclusive governance and respect for political freedoms to ensure long-term stability and growth.

Kagame’s near-unanimous support in the early results reflects his entrenched position in Rwandan politics.

His ability to maintain such high levels of support will be a focal point of discussion in the aftermath of the election.

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