How Nigerian businessman set to complete the purchase of a N60 billion luxury jet Gulfstream G-700 jet

Ernest Azudialu-Obiejesi, the Chairman and CEO of Nestoil Group, a prominent Nigerian oil conglomerate, is poised to finalize the acquisition of a Gulfstream G-700 jet valued at $76 million from the manufacturer located in Georgia, United States.

Furthermore, Mr. Azudialu-Obiejesi and his oil company are actively strategizing to expand their business operations with American companies in several states across the United States, including Georgia, Texas, Louisiana, and California, among others. This strategic initiative is well-documented.

Founded in 1991, Nestoil has established itself as one of Nigeria’s leading indigenous companies specializing in engineering, procurement, construction, and commissioning (EPCC) within the oil and gas sector.

At the age of 63, Mr. Azudialu-Obiejesi, the visionary founder and managing director of the company, is now setting his sights beyond Nigeria’s borders, with a goal to establish a world-class energy conglomerate, as indicated by insiders within his organization.

In addition to Nestoil’s expansion efforts in the United States, it is worth noting that the billionaire businessman’s agenda also encompasses the acquisition of a new Gulfstream G-700 aircraft, which comes with a price tag of $76 million. At the prevailing official exchange rate of N780 per US dollar, this amount translates to an impressive N59.3 billion in Nigerian currency.

The G-700 aircraft represents the latest innovation in private aviation, currently undergoing flight tests and expected to enter into commercial service this year, according to information from Guardian Jet, an organization providing valuable market intelligence to aircraft owners and operators. This state-of-the-art jet is classified as an ultra-long-range bespoke private aircraft, equipped with two powerful engines. It boasts the distinction of offering the largest cabin space in the business aviation sector, with the capacity to comfortably accommodate up to 19 passengers and featuring up to five distinct living areas.