Ownership Of Private Jets Grow By 650 percent From 2007 to 2012

Private jet ownership in Nigeria has grown by 650 per cent, from 20 jets in 2007 to over 150 jets in 2012.

The development means that wealthy Nigerians acquired, at least, 130 private jets with a sum of N1.02tn ($6.5bn) within the last five years. A private jet goes for between $40m and $65m, and are owned by top politicians, oil magnates and business moguls. Nigeria currently rivaled China as one of the two fastest growing private jet markets in the world.

Investigations show that during political meetings or big functions in Abuja, over 50 private jets were usually seen parked at the Abuja airport.