Cost of new presidential jet to be included in 2024 supplementary budget

The cost of a new presidential jet will be included in the 2024 supplementary budget.

Sources have disclosed that the proposal will be sent to the national assembly soon.

In April, President Bola Tinubu resorted to a commercial aircraft on hisway to the World Economic Forum (WEF) in Riyadh after the aircraft he travelled with to The Netherlands developed a fault.

Around the same time, Vice-President Kashim Shettima was seen arriving in Ogun state in a chartered aircraft.

The vice-president would later abort his trip to the US mid-air after the aircraft transporting him developed an engine fault.

On the heels of these developments, recall that the federal government has put three ageing presidential jets up for sale.

The current fleet, maintained by the presidential air fleet (PAF), an arm of the Office of the National Security Adviser (NSA), include Boeing 737 Boeing Business Jet (BBJ), a Gulfstream G550, a Gulfstream GV, two Falcon 7x and one Challenger CL605.

Two committees of the national assembly have recommended that two aircraft be bought for the use of the president and vice-president.

However, a source at the national assembly said only the cost of one presidential jet would be included in the supplementary budget.

In early June, Atiku Bagudu, minister of budget and economic planning, said the supplementary budget would be funded with the Presidential Infrastructure Development Fund (PIDF).

The fund is currently domiciled in the National Sovereign Wealth Investment Authority (NSWIA).

The spending bill would also provide funding for the Lagos-Calabar coastal road and rail projects across the country.