Flight of Fortune: Nigeria’s Lavish Parking Fees and Presidential Airscape Drama

Nigeria’s President Muhammadu Buhari reportedly incurred a fee of at least N549 million ($128 million) for parking a Nigerian government-owned Boeing Business Jet. The aircraft was transferred from Zaria to Germany’s Euro Airport on March 25, with a nightly parking charge of €5,000. By June 4, the Tinubu-led government had paid €340,000 for the 68-day parking duration at a €5,000 daily rate.

The Nigerian government has allocated billions of Naira for its presidential fleet, which includes a Gulfstream Aerospace GV-SP (G550) bearing registration number 5N-FGW and serial number 5310 (Mode-S 0640F2).

While the plane was undergoing maintenance in Germany, a technical issue arose with the secondary aircraft the President was traveling on in the Netherlands. Consequently, President Buhari and his delegation decided to engage a charter jet company to transport them to Saudi Arabia for the World Economic Forum, leaving the presidential aircraft behind.

Originally designated for Vice President Kashim Shettima, the Gulfstream G550 aircraft has also been utilized by former Vice President Yemi Osinbajo. This episode underscores the persistent financial pressures faced by the Nigerian government in its quest for economic stability.