Tinubu buys $100 million jet as Nigerians suffer severe hardship

Nigerian President Bola Tinubu has acquired a new private jet, an Airbus A330 business aircraft, even as millions of Nigerians continue to struggle with severe economic hardship.

The move has sparked widespread criticism, with many questioning the government’s priorities as the country grapples with its worst economic crisis in decades.

The aircraft, now registered to the Nigerian Air Force, was purchased last month for $100 million, according to Premium Times.

According to data from FlightRadar24, the plane left Abuja for Nice, France, on Monday, marking the president’s latest international trip aboard the newly acquired jet. The jet replaces an older Boeing 737-700 that had been in service for 19 years.

“The new plane, bought far below the market price, saves Nigeria huge maintenance and fuel costs, running into millions of dollars yearly,” Mr Tinubu’s spokesperson, Bayo Onanuga, said in an emailed statement, according to Bloomberg.

“Insensitive President”

The purchase comes at a time when Nigeria is facing unprecedented economic challenges. The removal of the fuel subsidy and the devaluation of the naira, key decisions made under President Tinubu’s administration, have led to soaring inflation and increased poverty across the country.

In June, inflation hit a 28-year high of 34.2% before slightly easing to 33.4% in July. The removal of the gasoline subsidy has resulted in a doubling of pump prices, while the naira has depreciated by 70% since June 2023.

The government’s decision to acquire the new jet has been met with public outcry, particularly on social media. Critics argue that the purchase is ill-timed, given the severe economic conditions many Nigerians are currently facing.

The country has witnessed widespread protests over the rising cost of living, with security forces clamping down on demonstrations, resulting in at least 21 deaths, according to Amnesty International.

Labour Party presidential candidate in the 2023 election, Peter Obi, condemned the purchase, calling it a sign of the administration’s insensitivity to the plight of ordinary Nigerians. He argued that the decision to buy such an expensive asset during a time of economic hardship highlights a failure in leadership and a lack of concern for the country’s growing poor population.

The decision to buy a presidential jet while people “are going through a horrifying economic hardship shows the insensitivity of this administration,” Mr Obi said in a post on X. “It has also exposed multiple dimensions to our leadership failure and our insensitivity to the plight of the growing poor class in our midst.”

The new aircraft was sourced from AMAC Aerospace and had been advertised on Aircraft24, a platform for buying and selling aircraft.