Meet Billionaire Mogul Who Owns Nigeria’s Most Luxurious Private Jet Hangar

Posted on June 16, 2020

FUNSHO AROGUNDADE

For some years now, an assortment of executive jets, helicopters and other private aircrafts have appeared at various airports across Nigeria. Meanwhile, in Nigeria, most wealthiest people are looking for solutions to get them to places which are now inaccessible by commercial airlines.

More importantly, in a country where scheduled airline flights are so often delayed, most of these aristocrats have eschewed ad-hoc charters arranged through third party operators but instead purchased their own aircraft. As private jet owners, they now choose when they want to leave, where they want to fly, and even how quickly they want to get there. This led to the berth of some private terminals in the country especially in Lagos.

Some of these terminals/hangars are well appointed with passengers now have a conveniences of shower, eat and relax prior to their departure. And in this new aviation experience is Nigerian billionaire mogul, Sam Iwuajoku as a key player.

Iwuajoku is a highly successful magnate with the Midas touch and who has been around for some time. He’s an authority in the aviation sector and a very close friend of many uber-wealthy dudes including Africa’s richest billionaire, Aliko Dangote.

Successful by all indicators, Iwuajoku is an effervescent personality who prefers to operate under the radar as a long time businessman with interests in steel and real estate etc. He is a businessman with a clear-cut vision, boundary-shoving commitment to birthing novel and noble ideas and passionate belief in the Nigerian dream.

He is one of the wealthiest Nigerians and understands their needs. Given his interest and passion, his company, Quits Aviations Service was given the approval in December 2017 to operate as the only terminal for Business Aviation in Lagos. The approval was issued after meeting international standards for Business Aviation Services.

Of course, he is partnering with Switzerland’s ExecuJet Aviation Group which manages the world’s largest fleet of private jets and chose Lagos as the location for its first West African facility over several other potential locations in Ghana and Cote d’Ivoire. But Iwuajoku’s partnership with ExecuJet has further raised the bar and built confidence on the standard of maintenance and services that come from his hangar/terminal.

The facility is the first of its kind in Nigeria nay Africa and exudes class, style and opulent splendour that differentiate men of means from boys rising. Here the rich and the famous alongside their toys called private jets are in for that special privilege that only money can buy. With state-of-the-art facilities to boot and an ambience of class, style, comfort, it is a run away from the hustle and bustle of the main international terminal of the airport.

In the last decade, the country’s private jet fleet rose to about 200 aircrafts – almost 10 times the number of planes operated by Arik Air —who used to own the largest fleet in the country.

But it’s not only business figures that are buying planes: pastors and politicians are among the buyers, too. Their popular choices include Bombardier Challenger, Gulfstreams, Falcons and Legacies. Beyond the cost of the aircraft themselves, annual upkeep, crew and maintenance can cost as much as $1 million per year. 

While luxury might be the name of the game, the economic benefits of this venture for the nation must not be lost within the cacophony of clinking glasses of champagne for the emergence of Iwuajoku’s epoch project. And these benefits include the fact that capital flight will be reduced. 

To ease cost and logistics, Quits Aviation also serves as the authorised service centre for five business jet manufacturers like Bombardier, Dassault, Textron Beechcraft, Embraer, Honeywell Avionics and Rockwell Collins and it carries out maintenance on these aircraft types up to D-check level.

With a capacity to take over 50 private jets at a time, Iwuajoku’s Quits Aviation, are looking beyond the Nigerian aviation industry to cater for the needs of the West Africa sub-region.

The business mogul said his private terminal is one of the best in Africa, only compared with similar facility in South Africa and it has Approved Maintenance Organisation (AMO) certification for business jets. It is also registered with the Nigerian Civil Aviation Authority (NCAA) and other Civil Aviation Authorities in the world.

In November 2018, Iwuajoku added a stylish 5-Star Legend Hotel Lagos Airport, a Curio Collection by Hilton, to the opulent terminal to offer world-class check-ins with its extensive amenities and facilities. The 54-room hotel, situated within the precinct of the International Airport, is the first of its kind offering exclusive services to billionaire fliers.

The hotel, which features a private jet hangar and an exclusive immigrations and customs desk for private jet owners and customers, joins the exclusive Curio Collection by Hilton, a collection of more than 60 one-of-a-kind hotels and resorts celebrated for their individuality and appeal to travellers seeking local and authentic experiences.

With contemporary design, Iwuajoku’s luxury hotel boasts of spacious guest rooms and suites, featuring beautiful Art Deco style interiors, and two Presidential Suites, which offer a private terrace with a bar and whirlpool, and stunning airfield views.

Imo State-born fulfilled Iwuajoku has not stop remind everyone how the idea of owning a private terminal at the Lagos international airport came about.

In a chat with one of Nigeria’s mainstream newspapers, Iwuajoku said: “It all started in 1997 or there about. I bought my first Hawker 700 aircraft in partnership with my friend, Aliko Dangote, and we were looking for a good place to park the aircraft just as they have it overseas. The only place we had in Nigeria that came close to what they have overseas was Caverton. So, I went to Caverton and they said they were going to charge $16,000 a month to park the Hawker because their main business is helicopters. Right in front of their building and there was no way the aircraft could taxi because of lack of space.

“They suggested that I have to build a bridge around for the aircraft to taxi and to build that bridge would cost about N35 million. They said if I build the bridge they would deduct it from what I was supposed to be paying monthly. Then I looked close by and I saw this land with a hilly slope and I asked who owned the land and they said they didn’t know. So I went to FAAN to inquire about it and they told me that they had not sold or given it to anybody. That people had rejected the land because of the gully.

“So I applied for the land because I felt it was possible to go through with it. If people can go through a mountain and build a tunnel why can’t I do this? So I applied at that time when Babalola Borisade was minister of aviation and I was given. Six months later after I was given the land, I invited ExecuJet and they came and looked at the site and thought it was fantastic but they refused to invest at the time because they saw bare land. So I decided to go ahead to build it myself. After one and a half years, ExecuJet came back and their interest was rekindled and that is how we are married today,” the unobtrusive billionaire summed.

This article was first published by OperaNews

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