Nigerian Government Withdraws Sale of Presidential Jet Due to Low Offers

The Nigerian government has canceled the sale of a 20-year-old Boeing 737-700 business jet after receiving offers far below the expected price, with bids as low as $10 million. The aircraft underwent extensive refurbishment and upgrades, including a partial interior upgrade by AMAC Aerospace in Switzerland.

The low market demand and limited buyer interest led to the decision to retract the sale, affecting the presidential air fleet. The jet was originally acquired for $43 million in 2005 during Olusegun Obasanjo's tenure, part of cost-cutting measures under President Bola Tinubu's administration.