Discover details of Nigeria's 2024 supplementary budget, set to include funds for a new presidential jet amid recent aircraft malfunctions. Learn about the sale of existing jets and plans for infrastructure projects funded by the Presidential Infrastructure Development Fund.
The 2024 supplementary budget will reportedly include funds for a new presidential jet, as disclosed by sources familiar with the matter to TheCable. This proposal is expected to be forwarded to the National Assembly soon.
Recent incidents involving aircraft malfunctions during official travels by President Bola Tinubu and Vice-President Kashim Shettima have underscored the need for new aircraft.
The federal government has already put three older presidential jets up for sale, part of a fleet managed by the Presidential Air Fleet (PAF). Committees at the National Assembly have recommended acquiring two new aircraft, although sources suggest only one jet's cost will be covered in the supplementary budget.
Finance for this budget is anticipated to come from the Presidential Infrastructure Development Fund (PIDF) housed within the National Sovereign Wealth Investment Authority (NSWIA). Alongside the jet, funds are earmarked for national infrastructure projects like the Lagos-Calabar coastal road and rail developments, aligning with broader economic plans.
