Private jet ownership in Nigeria has grown by 650 per cent, from 20 jets in 2007 to over 150 jets in 2012.
According to documents sighted in aviation agencies, 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.
This put the private jets aviation market in Nigeria (the monetary value of all private jets in the country) at N1.18tn ($7.5bn), using $50m as the average cost of each brand new private jet.
A private jet goes for between $40m and $65m, according to the websites of major private jets manufacturers, like Bombardier of Canada; GulfStream and Hawker Siddley of United States; and Embraer of Brazil.
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