Nigeria has put up two presidential jets for sale as the nation seeks austerity measures in the wake of an increasing economic crisis that has hit Africa’s second largest economy in recent years.
The two jets, Falcon 7X and a Hawker 4000 plane are estimated to be worth $76.7 million.
“This is in line with the directive of President Muhammadu Buhari that aircraft in the presidential air fleet be reduced to cut down on waste,” Newsweek quoted Garba Shehu, the president’s spokesman on Tuesday.
The sale of the two jets has however not convinced experts who have questioned the president’s expansive fleet of jets, despite the nation’s lack of a national carrier since Nigerian Airways folded in 2003.
Buhari will have eight more jets despite the sale of the two aircraft. According to sources privy to the presidency, an un-disclosed number of the remaining aircraft will be handed over to the Nigerian Air Force to boost its operations.
“Are we not ashamed that several years after the demise of our Nigerian Airways, we still don’t have an airline we can call our own? Instead of selling these aircraft, why not hold on till when you are ready for a national carrier?” Punch quoted Steve Mahonwu, former president of the Airline Operators of Nigeria.
Buhari has one of the most expensive fleet of all African presidents. The government spends about $38 million (N12 billion) annually to maintain the huge fleet in a country where about 100 million people live on less than $1 a day, Sahara Reporters reported.
Corruption has also been rife in the country. Transparency International Corruption Perception Index ranked the nation 31st from the bottom
The nation entered into recession in August, when its economic growth contracted by about two percent, BBC reported.
Naira, the national currency hit a record low of 420 to the dollar in the same month.
The nation’s economy relies on oil exports, which account for 80 percent of the revenue. The global fall in its price threw the nation into its worst crisis for years.
Nigeria’s oil production fell to 1.4 million barrels per day two months ago, which is the lowest in 22 years, according to data by MarketRealist.com.
The decision to reduce the president’s fleet came a month after Aliko Dangote, Africa’s richest man called on the government to sell most of its assets and raise revenue instead of relying on global financial bodies like International Monetary Fund (IMF).
Buhari, like most Africa presidents has come under scrutiny for his austerity pledges that he made before his election, last year.
