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Home Editorial Nigeria Is Borrowing Billions — But Can’t Collect from Billionaires?

Nigeria Is Borrowing Billions — But Can’t Collect from Billionaires?

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By the Editorial Board, Newspot Nigeria

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Let us be clear: Nigeria does not suffer from a lack of wealth — it suffers from a failure to collect it.

This week, the Nigeria Customs Service (NCS) confirmed that it has grounded 60 private jets across major airports in the country for non-payment of customs duties. These are not average aircraft. Among them are ultra-premium jets like the Bombardier Global 6500, which sells for over $56 million (₦84 billion) and costs approximately ₦5.8 billion per year — or nearly ₦480 million monthly — to operate, according to data from GlobalAir.

Yet despite the size and value of these aircraft, many remained non-compliant with basic customs documentation and import duty obligations. Customs says it had extended deadlines and issued multiple public notices before finally initiating enforcement.

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But now, just as it happened with the well-known case of 753 houses once labeled “unclaimed”, we see a familiar trend: assets whose ownership records were unclear begin to draw interest and attention once enforcement becomes real.

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Who owns these aircraft?
And why do clear ownership records or compliance actions only emerge after enforcement begins?

Let us be clear: there is no official list in the public domain identifying the individuals or entities that own these jets, nor is there confirmed information about how many may have since complied. However, in a country facing significant revenue challenges and rising debt obligations, the optics of grounded multimillion-dollar aircraft — while public infrastructure crumbles — are difficult to ignore.

This is not about assumptions. This is about demanding consistency.

Everyday Nigerians are asked to meet tax deadlines, register businesses, pay customs duties on imported vehicles, and comply with government regulations under strict penalties. It is only fair — and reasonable — that the same rules apply to those flying high-end private jets.

We commend the Nigeria Customs Service for taking long-delayed action, but this should mark the beginning, not the end, of broader institutional accountability. Relevant agencies should now work to ensure:

  • Full verification of ownership and compliance, within the law;
  • Transparent enforcement procedures for all high-value assets;
  • And clear reporting to the public on outcomes.

This is not about targeting anyone — it is about upholding standards that treat all citizens equally, regardless of altitude.

Let us not repeat the “753 houses” scenario, where ownership remained murky until auctions loomed. Transparency is not a punishment — it is a civic obligation.

If Nigeria must borrow, Nigeria must also collect — completely, fairly, and without exception.

— Newspot Nigeria Editorial Board

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