Presidential Jet: Nigerian Govt Offers N150b For Impounded Airbus A330 – Report

The Nigerian government has revealed it’s intentions to acquire a seized Airbus A330 aircraft, currently in possession of a German bank, following a default on a multi-million dollar loan by an unnamed Arab prince and businessman, according to Premium times.

The government has reportedly identified the aircraft for purchase but is currently seeking funds to complete the transaction, pending any changes to the plan.

According to reports, the Nigerian government has its sights on a repossessed Airbus A330 aircraft, previously owned by a troubled oil sheikh who used it as collateral for a loan from a German bank.

The aircraft is currently in the possession of L & L International LLC, a Miami-based aviation firm, which is facilitating the sale on behalf of the German bank. Valued at $600 million, the multi-engine jet boasts a luxurious VIP configuration, and its sale to the Nigerian government is reportedly in the works.

According to the report, the Nigerian government has made a bid of approximately $100 million for the repossessed Airbus A330 aircraft, but the seller, L & L International LLC, is yet to accept the offer.

The proposed payment equivalent is N150.7 billion, based on the official exchange rate of N1,507 per US dollar. The significant price gap between the offer and the aircraft’s value of $600 million may be a sticking point in the negotiations.

According to the report, AMAC Aerospace AG, a Swiss aviation company, is facilitating the Nigerian government’s acquisition of the repossessed Airbus A330 aircraft.

AMAC Aerospace AG has a pre-existing contract with the Presidential Air Fleet (PAF) for aircraft maintenance, but the company’s director, Alexis Ott, declined to comment on the matter, citing a policy of not disclosing information about such transactions.

Meanwhile, President Tinubu is reportedly seeking approval from the National Assembly to secure funding for the purchase of a new presidential jet, amidst ongoing negotiations for the aircraft valued at $600 million.

But the Senate President, Godswill Akpabio recently said, “I have never had that correspondence to approve the purchase of a plane. We care about the President; we care about Nigerians. We will approve things that will benefit the people..

“There is nothing before us. But the purveyors of the story know that there is a problem with the presidential fleet.”

Earlier, Senate leader, Senator Michael Opeyemi Bamidele (APC, Ekiti Central) said, “There is no such request, if the request comes, not only the Senate will debate it, we are 469 here. So this is the handiwork of fifth columnist and propagandists.”
Source: Sahara Reporters

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