Advertisement

How FG spent N5bn on presidential fleet in 15 months

How FG spent N5bn on presidential fleet in 15 months
How FG spent N5bn on presidential fleet in 15 months
The outrageous sum covers the period of time that President Muhammadu Buhari has been in office
Advertisement

The figure includes personnel costs, overheads and capital expenditures; out of the N5.19bn appropriated for PAF in the 2015 budget

Advertisement

Amount released for PAF by the Office of the AGF between May and November 2015 – N2.3bn

Amount claimed by PAF to settle outstanding liabilities carried over from 2014 – N1.35bn

Amount refunded to NSA for financial support rendered for maintenance prior to release of funds – N500m

Amount spent on personal medicals and overheads – N85m

Advertisement

Amount spent on training – N165.37m

Amount spent on aircraft maintenance, spare and subscription services – N99.7m

Amount spent on operations – N98.5m

Using the official interbank market rate of dollar, N19.9bn ($65.13m) is likely the amount spent between May 29, 2015 & August 29, 2016 to maintain the PAF at N305.5/dollar

Combined estimated value of Nigeria’s PAF - $347.4m (N106.13bn)

Advertisement

Boeing Business Jet - $59m

Gulfstream 550 - $53.3m

Each of the two Falcon 7X jets - $51.1m

HS 4000 - $22.9m

Agusat Westland 101 - $21m

Advertisement

Agusta Westland - $12m

*FG – Federal Government

*PAF – Presidential Air Fleet

*NSA – National Security Agency

Advertisement