FG Loses N120bn to Illegal Private Jet Charters – Report

A new report has revealed that the federal government is losing an estimated N120 billion annually due to illegal private jet charter operations. The findings indicate that unregistered operators are bypassing regulatory fees and taxes, depriving the government of significant revenue.

According to industry experts, many private jet owners engage in unauthorized commercial operations without the necessary permits, exploiting loopholes in aviation regulations. These illegal charters, often arranged discreetly, offer services at lower rates than licensed operators, creating unfair competition in the sector.

Aviation regulators have expressed concerns over the impact of these activities, not only on government revenue but also on passenger safety. Without proper oversight, unregulated flights may compromise security standards, maintenance protocols, and insurance coverage.

Stakeholders in the aviation industry have called for stricter enforcement of existing laws and improved monitoring of private jet operations. Suggestions include enhanced tracking systems, increased penalties for offenders, and collaboration between aviation authorities and financial regulators to curb revenue losses.

The government is reportedly reviewing measures to address the situation, including policy reforms aimed at closing regulatory gaps. As authorities intensify their crackdown, industry watchers hope for a more transparent and accountable system that ensures compliance and maximizes revenue collection.