THE Federal Government has quietly withdrawn one of its presidential aircraft, a Boeing 737-700 Business Jet (BBJ), from the international market after prospective buyers made offers far below the jet’s expected value, senior presidency and security officials have confirmed to this newspaper.
News Point Nigeria reports that according to officials familiar with the matter, the marketing company handling the sale delisted the aircraft after it became clear that bids from interested buyers were “nowhere close” to what the government considered acceptable.
Some offers reportedly came in as low as $10 million, a figure insiders say grossly undervalues the 20-year-old aircraft, despite its age, maintenance history and upgrades. The government did not disclose the reserve price, but officials insist the BBJ was worth significantly more.
“They removed it from the advertisement website because the prices quoted were not what the government wants,” one presidency official explained. “Some buyers were even pricing it at $10m. Its age may have been the biggest factor.”
Aviation brokers say that large-cabin VIP aircraft of this age often attract a small and cautious pool of buyers. Wealthy private buyers with the ability to acquire such jets usually prefer much newer aircraft with: Manufacturer-backed service packages, updated avionics and modern interiors.
Another official likened the situation to “trying to sell a refurbished mansion to someone shopping for a new penthouse,” noting that high-net-worth individuals prefer newer jets with fewer lifecycle risks.
The U.S. firm JetHQ, which first listed the aircraft, confirmed that it no longer has the Nigerian jet on its platform.
In an email to this newspaper, JetHQ’s Manager of Market Research, Laurie Barringer, wrote: “We no longer have the listing on the Boeing. You will need to reach out to the Nigerian Government for information as to what has become of the aircraft.”
The Tinubu administration listed the BBJ (tail number 5N-FGT) for sale in July 2025 as part of an ongoing cost-optimisation and fleet rationalisation effort that began under President Muhammadu Buhari.
Originally purchased in 2005 for $43 million during President Olusegun Obasanjo’s administration, the aircraft served several Nigerian Presidents until August 2024, when the government took delivery of a refurbished Airbus A330-200 (5N-FGA).
Ahead of its planned sale, the BBJ underwent: C1–C2 inspections, partial interior refurbishments at AMAC Aerospace in Basel, Switzerland and new cabin carpets and upgraded first-class seating.
It had also undergone a D-Check, the most intensive and expensive maintenance inspection for aircraft—before the end of Buhari’s administration. A D-Check, also called a Heavy Maintenance Visit, involves near-complete disassembly and can cost millions of dollars.
Despite these upgrades, the jet’s age and maintenance setup still depressed market interest.
Another challenge dampening buyer enthusiasm is the BBJ’s lack of enrolment in an engine maintenance programme. Its two CFM56-7BE engines are maintained “on condition,” a practice that many buyers avoid because:
A senior security official told this newspaper that the decision to pull the aircraft from the market was also driven by operational pressures within the Presidential Air Fleet (PAF).
Of the roughly 10 aircraft in the fleet, three fixed-wing jets are currently unserviceable. The remaining operational jets are frequently overstretched, sometimes forcing top government officials to charter private flights.
“Right now, we have only three to four operational aircraft aside from the Airbus,” the official said. “The Vice President uses the Gulfstream often, and the remaining jets have to be shuffled around.”
He added that even the Senate President and Speaker of the House occasionally resort to charter flights due to aircraft shortages.
Another presidency source explained that the fleet is routinely used for ECOWAS and regional diplomatic support, including transporting heads of state from smaller West African nations that lack suitable aircraft.
“Some countries are too poor to move around for meetings. We send an aircraft to pick them,” he said. “These obligations make it difficult to part with another jet right now.”
The newest aircraft, an Airbus A330-200, purchased for about $100 million, now carries the call sign Eagle One for long-range presidential missions. It was delivered in August 2024 and repainted in the national colours the following month.
The Boeing’s delisting now suggests that government may retain it longer than initially planned, unless a more favourable offer emerges.