Nigerian businessman orders N60 billion luxury jet

Ernest Azudialu-Obiejesi, the chairperson and CEO of Nestoil Group, a Nigerian oil conglomerate, is set to complete the purchase of a $76 million Gulfstream G-700 jet from the manufacturer in Georgia, United States, PREMIUM TIMES can authoritatively report today.

In addition, Mr Azudialu-Obiejesi and his oil firm are now strategising to expand their dealings with American businesses in Georgia, Texas, Louisiana, California, and other states in the US, documents show.

Incorporated in 1991, Nestoil has grown to be one of Nigeria’s foremost indigenous engineering, procurement, construction, and commissioning (EPCC) companies in the oil and gas sector.

Mr Azudialu-Obiejesi, 63, the founder and managing director of the company, has now set his eyes beyond the shores of Nigeria, looking to build a world-class energy conglomerate, those close to his business said.

Aside from expanding Nestoil’s operation in America, PREMIUM TIMES understands that the billionaire businessman’s other priorities include the purchase of a new Gulfstream G-700 aeroplane that sells for $76 million.

At the current official market rate of N780 per US dollars, the amount is equivalent to N59.3 billion.

The G-700 aircraft is an all-new jet that is currently in flight test and is anticipated to enter into service this year, according to Guardian Jet, an organisation providing aircraft owners and operators with market intelligence advice.

The aircraft, its manufacturers say, is an ultra-long-range bespoke private jet with two engines. It will offer the largest cabin in business aviation, carrying up to 19 passengers and having up to five living areas.

If the purchase is completed, Mr Azudialu-Obiejesi and his Nestoil will be among the first set of buyers in the world to acquire the luxury jet.



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