The aviation sector is more than a big deal. Apart from ranking as one of the largest industries globally – as it would be the world’s 17th largest economy (like Indonesia or the Netherlands) if it were a country – the aviation sector is a major driver of economic activity as it contributes close to $3.5 trillion to the global GDP, representing 4.1% of the total.
In 2018, civil aviation alone accounted for $911.3 billion in direct economic activity, supporting over 11 million jobs in the U.S. Per job creation, the aviation sector supports around 65.5 million jobs globally, including direct and indirect roles.
The aviation sector is also central to international tourism, facilitating global mobility and cultural exchange. More than 1.2 billion tourists travel across borders annually, with over 50% relying on air transport to reach their destinations.
The aviation sector supports over 36 million tourism jobs and contributes approximately $892 billion to global GDP. In tourism-dependent regions like the Caribbean and parts of Africa, aviation is vital for economic stability, supporting up to 42% of GDP in some countries, like the Maldives.
Nigeria’s story is no different. The aviation sector contributes approximately NGN 119 billion, representing 1.4% of Nigeria’s GDP, including direct contributions from airlines and airports and indirect impacts through the supply chain and employee spending, taking the total to around NGN 198 billion when considering tourism-related benefits.
The Nigerian aviation sector also supports about 159,000 jobs, including direct employment in airlines (44,000 jobs), indirect jobs through the supply chain (64,000), and induced jobs from employee spending (51,000). Plus, tourism linked to aviation accounts for another 130,000 jobs.
The sector generates over NGN 8.5 billion in taxes annually, including income tax from employees and corporate taxes, while contributing an estimated NGN 17 billion through Value Added Tax (VAT) on flights.
Private Aviation: More Than a Rising Trend
While the aviation sector is revered as a money-maker and reliable job bank, private jet companies have proven to be the industry’s unsung heroes. The private jet sector has become a luxury and a vital component of modern business operations and tourism. Private jets optimise business operations, providing unmatched time efficiency and flexibility that allows executives to tailor their travel schedules without the constraints of commercial flight timetables.
Private aviation is a substantial economic driver that impacts different industries. It facilitates efficient travel for executives and entrepreneurs and contributes over $150 billion annually to the global economy. The sector directly employs approximately 1.2 million people, with an estimated 3 million jobs supported indirectly through related industries such as hospitality and aircraft manufacturing.
Nigeria now has Africa’s third-largest number of private aviation operators, behind South Africa and Kenya. Private jets have evolved from a luxury for the elite to a necessary mode of transportation for many Nigerians, particularly business leaders. They provide a vital solution to the inefficiencies of commercial air travel in Nigeria, which is characterised by frequent delays and cancellations. The percentage of flight delays reached 21.79% in 2023, prompting many to seek the reliability and flexibility that private aviation offers.
Over the past two decades, private jet ownership in Nigeria has surged from 44 jets in 2005 to 157 in 2024, a 357% increase. Today, Nigerian private aviation is steadily becoming saturated, with major investments pouring into the sector. This spurs intense competition and a healthy rivalry of unique selling propositions. In the exponentially growing private aviation sector, here are the top seven private jet companies in Nigeria.
Photo Source: Planespotters.net.
Mr. Atedo N. A leads ANAP Jets. Peterside is a prominent Nigerian banker and entrepreneur. Positioning itself as a cost-effective alternative to traditional jet ownership, the company operates a fractional ownership model that allows clients to purchase shares in private jets rather than own them outright. ANAP Jets’ frugal, self-financing business model significantly reduces upfront costs and ongoing maintenance expenses, making it a great alternative to businesses that require flexibility.
ANAP Jets’ unique selling proposition positions it as a lower-cost substitute. It provides access to a modern fleet of Embraer jets designed for speed and comfort. Founded in 2015, ANAP Jets was created to fill a gap in the Nigerian aviation market, plagued by high operational costs and inefficiencies. The company aims to provide reliable and efficient air travel options tailored to the needs of its clientele.
Photo Source: Azikiel Group.
Azikel Air is part of the Azikel Group, owned by Dr. Eruani Azibapu Godbless, a billionaire businessman with diverse interests in various sectors, including aviation, dredging, and petroleum. While the company’s financial specifics are not publicly disclosed, the larger conglomerate supports it with its resources. This backing provides Azikel Air with substantial financial stability and resources for expansion within the aviation sector.
Azikel Air was launched as part of Dr. Eruani’s vision to diversify his business portfolio into aviation, complementing his existing ventures focusing on infrastructure and energy sustainability. Azikel Air provides safe and reliable air travel services within Nigeria and internationally. Its integration into a larger conglomerate allows it to leverage synergies from other sectors, such as oil and gas.
Maxair leverages its strong brand recognition among Nigerian travellers, which stems from its extensive experience in pilgrimage flights and domestic services. Initially established as Mangal Airlines before rebranding to Maxair, the company aims to serve domestic passengers and those travelling for religious purposes.
Photo Source: Vista Global.
VistaJet is a global leader in private aviation. It is. It is owned by Vista Global Holding and founded by Swiss businessman Thomas Flohr. The company has made significant investments in the Nigerian market, especially after the COVID-19 pandemic, which saw a surge in private flying due to delays and cancellations in commercial flights. Founded in 2004, VistaJet has expanded its operations globally, with Nigeria being a key market due to its growing demand for private aviation services.
Despite the broader challenges facing Nigeria’s aviation sector—estimated losses between $1 to $5 billion—VistaJet has maintained a strong client base due to its reputation for safety and reliability. VistaJet’s unique value proposition is hinged on its high level of luxury and service, with trained cabin hosts providing top-notch service standards. Their commitment to privacy and flexibility sets them apart from local competitors. VistaJet’s presence has raised the service standards in Nigeria’s private aviation market, encouraging local operators to enhance their offerings and thus qualify it as a top private jet company in Nigeria.
- Charter Flights Aviation
Photo Source: Simple Flying.
Charter Flights Aviation is one of Nigeria’s largest air charter service providers, specialising in aircraft charters, including jets and helicopters. It boasts an extensive fleet, including high-end models like Bombardier Global and Gulfstream jets, a competitive pricing structure catering to diverse client needs, and strong operational capacity, allowing quick response times.
Charter Flights Aviation’s unique value proposition lies in its pricing, which varies widely based on aircraft type. Private jet rentals start at approximately $45 per hour, and helicopter services begin at around $18 per minute. Founded to provide accessible luxury air travel within Nigeria, Charter Flights Aviation has rapidly grown by focusing on customer needs and expanding its fleet capabilities. This company has significantly made private air travel more accessible in Nigeria, cementing its status as a top private jet company.
Photo Source: Aviapages.
Nesto Aviation is recognised for its charter services within Nigeria and internationally. While specific details about its ownership structure or financial data are limited, Nesto Aviation emphasises customer service and operational efficiency as its primary strengths. Nesto’s impact lies in providing tailored charter solutions that meet diverse client needs across various sectors.
Nesto operates primarily through charter services and is known for competitive pricing and flexible scheduling options. It has etched its name among the top private jet companies in Nigeria, focusing on regional connectivity and catering to underserved routes.
Photo Source: ExecuJet Aviation Nigeria.
Founded in 1991 in South Africa and expanding into Nigeria as part of its growth strategy across Africa, ExecuJet is part of the larger ExecuJet Aviation Group. Execujet has established itself as a leading player in the African aviation market, benefiting from strong capital backing and extensive operational experience across multiple regions.
ExecuJet offers comprehensive management services alongside charter flights, making it an attractive option for clients seeking full-service solutions. The company’s presence has helped elevate service standards by introducing best practices from its global operations, ranking it among Nigeria’s top private jet firms.
The Nigerian private aviation sector is replete with top choices, and honourable mentions have to be given to Sparfell Luftfahrt GmbH, SML Lagos, Raymart Aviation, XE Jet, Mudita Nigeria, Izy Air, Monarch Air Group, and Mercury Jets. The continued influx of entrants into the sector bodes well for healthy competition, industry growth, and an upward trajectory in consumer value and choices.
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Frequently Asked Questions
- Who owns the best private jet in Nigeria?
The most expensive private jet in Nigeria is reportedly owned by Orji Uzor Kalu, a former governor of Abia state, who purchased a Gulfstream G650 for a whopping $72 million (N11.5 billion).
- How many private jets are in Nigeria?
An investigation revealed that the number of private business aircraft operating in Nigeria has risen from 44 in 2005 to 157 in 2024. The Ministerial Task Force on Illegal Air Charter Operations blamed high-net-worth individuals and foreign-registered aircraft.
- What is the largest private jet company?
NetJets is the largest private aviation operator, with over 900 aircraft worldwide, including managed aircraft (through Executive Jet Management) and its aircraft. It has been growing its fleet over the last couple of years, and more new aircraft were added in the previous year.
- How much does booking a private jet in Nigeria cost?
A midsize and super-midsize jet costs $4,200 – USD 8,100 per hour, and a long-range jet or group charter flight on a VIP airliner can cost $7,200– USD 17,800 per hour or more.
- How much money do I need to own a private jet?
A private jet is a significant financial commitment, with costs ranging from $2 million for a new, entry-level jet to over $110 million for a luxury model. Generally, total ownership costs, including the associated fees and maintenance, can range from $700,000 to $4 million annually.