The Nigerian federal government plans to purchase a foreclosed A330 from an unnamed German bank for use as a new presidential jet, reports the Premium Times newspaper.

The government has reportedly offered around USD100 million for the widebody, valued at USD600 million due to its VIP configuration. According to Premium Times, the aircraft was repossessed from an unidentified sheikh who had defaulted on a bank loan. Florida-based L & L International LLC and AMAC Aerospace Switzerland AG are reportedly brokering the deal. The Swiss firm has a longstanding aircraft maintenance contract with Nigeria's Presidential Air Fleet (PAF).

According to social media posts, the aircraft in question is an ACJ330-200, VP-CAC (msn 1053), to be registered as 5N-FGA. ch-aviation fleets data shows the 14.86-year-old jet is currently operated by AMAC Corporate Jet (AMK, Zurich) and is currently in maintenance in Basel/Mulhouse/Freiburg, CH. It was formerly operated by Saudi Arabia's Mid East Jet (Jeddah International).

AMAC Aerospace Switzerland declined to comment and referred inquiries to the Nigerian authorities. ch-aviation also reached out to the Nigerian Air Force and L & L International for comment.

Last month, the Nigerian House of Representatives' Committee on National Security and Intelligence recommended procuring new aircraft for President Bola Ahmed Tinubu and Vice President Kashim Shettima due to high maintenance costs and operational issues with the current fleet. In particular, it recommended that a new aircraft be acquired for the president that would reflect the country's prominent position in West Africa, Africa, and globally. Additionally, it proposed obtaining a new aircraft similar to the US Vice President's Air Force Two jet.

In a report following an investigative hearing on May 20 into the state of the PAF, the committee highlighted that several aircraft in the presidential fleet are unserviceable and ageing, leading to increased downtime and operational expenses. The president's 19-year-old B737-700(BBJ) is in annual maintenance, but the vice president's 13-year-old Gulfstream Aerospace G550 is in good condition, Premium Times reported.

Apart from those two jets, the presidential fixed-wing fleet also includes a Gulfstream G500, two Falcon 7Xs, a Hawker 4000, and a Challenger 605. Three of the aircraft are reportedly unserviceable. In addition, the PAF's rotor-wing fleet includes two Agusta 139s (both unusable) and two Agusta 101s, all operated by the Nigerian Air Force (NGR, Lagos) but overseen by the Office of the National Security Adviser.

In April, a government source informed The Nation newspaper that the president had approved the sale of three jets but did not disclose which.

Nigeria's former president, Muhammadu Buhari, promised to reduce the number of aircraft in the PAF. As previously reported, an attempt to sell one Dassault Falcon 7x and the Hawker 4000 in October 2016 fell through. Between 2016 and 2020, the fleet's operational costs skyrocketed by 190%. In 2022, it was reported that maintenance expenses for each aircraft ranged from USD1.5 million to USD4.5 million annually.