Political office holders in the country, especially governors and ministers have embraced a new way of flying in state-of-the-art private jets to destinations within the country and overseas without necessarily owning them, findings have shown. The new private jet ownership model called time-share lease, which is fast gaining ground among the political elites, has seen over 30 private jets in the country, carrying mostly ministers, governors and some top government and private sector shots.
Some European companies and a few Nigerian private jet firms are thought to be behind the time-share private jet lease business model. They introduced the model to the country to enable them make money from the political class. Time-share private jet lease, also called fractional jet ownership, provides individuals, companies and corporations a way of enjoying the benefits of a private jet anytime they want it, according to Wikipedia.
Time-share ownership comes in various models. Some come as a way of making use of the jets for certain number of hours in a month without necessarily owning it. Others may involve joint ownership with others,Wikipedia notes. The fear of scandal and fraud allegation as a result of the outright ownership of private jets had made some serving ministers and governors to embrace the time-share lease arrangement.
Sources said the private jets firm had been making millions of dollars from ministers, governors and other top political actors in the country on annual basis through this arrangement. The revelation came on the heels of recent reports that a serving minister, who is believed to be close to the Presidency, had spent millions of dollars in the last two years flying a Bombardier Challenger 850 plane.
Hmmm, a pathetic case of “Ogoro must jump”!