A report by GovSpend, a civic tech platform that focuses on tracking and analyzing the Federal Government of Nigeria’s spending, has revealed that no less than N19.43 billion was spent on the maintenance and operations of the Presidential Air Fleet from July 2023 to September 2024.
The report added that in the 2024 fiscal year, payouts for the planes closed at N13.55 billion, an amount representing 66 percent of the allocations for the fleet.
It stated that most disbursements were labeled ‘Forex Transit Funds,’ typically funds allocated for foreign exchange requirements to facilitate international transactions and engagements.
It was gathered that the government used such funds to cover expenses related to operations outside the country, including fuel purchases, maintenance, or services in foreign currencies, especially for the presidential air fleet.
An official within the Aso Rock Villa, who spoke on condition of anonymity, disclosed that when aircraft in the fleet are abroad, payments are often made in U.S. dollars or another foreign currency to ensure uninterrupted operations, noting that the mode of payment also contributed to the significant expenditure on maintaining the presidential fleet.
The report revealed that in July 2023, N1.52 billion was disbursed in two tranches of N846 million and N675 million for ‘Presidential Air Fleet Forex Transit Funds.’ It further noted that N3.1 billion was disbursed in three tranches of N388 million, N2 billion, and N713 million for the same item the following month.
In November of that year, N1.26 billion was deposited into the Presidential Air Fleet naira transit account.
The report indicated that the first overhead for 2024 arrived in March, with N1.27 billion disbursed twice, amounting to N2.54 billion. The transit account received N6.35 billion in April, N4.97 billion in May, and N210 million in July.
August witnessed the highest frequency of transactions, with N5.60 billion released in six separate disbursements.
Although these transactions were not clearly labeled, the funds were paid into the Presidential Air Fleet naira transit account, including a N35 million transfer made in September.
Criticizing President Tinubu for being too extravagant at the expense of the suffering masses, the Executive Chairman of the Centre for Anti-Corruption and Open Leadership, Debo Adeniran, said Tinubu’s actions are in sharp contrast with Nigerians’ expectations.
Meanwhile, Bayo Onanuga, an aide to President Bola Tinubu, defended the spending on the presidential air fleet, stating that the purchase of new aircraft was in the interest of Nigerians.
Onanuga called on Nigerians, especially critics of Tinubu’s administration, to consider the need to regularly replace the presidential fleet to prevent the President from facing avoidable air mishaps.