Nigerian aviation tycoon Sam Iwuajoku’s ExecuJet bags partnership deal with Gulfstream

Yusuf Abdulfatai -

Execujet Aviation Nigeria (EJAN), a company co-owned by Nigerian aviation tycoon and one of the country’s richest men Sam Iwuajoku, has reached a partnership agreement with Gulfstream Aerospace Corp.  to expand service availability and parts access in West Africa.

Gulfstream is collaborating with ExecuJet Aviation Nigeria, which operates a 275,000-square-foot facility in a free-trade zone near Murtala Muhammed International Airport in Lagos. EJAN’s 50,000-square-foot hangar can house four Gulfstream G550 jets at the same time.

Gulfstream also announced that its newest jet, the Georgia-made G700, will embark on a global tour that will include a stop at ExecuJet’s Nigeria facility, which already provides warranty and maintenance service for its G450, G550, G650, and G650ER models.

“As we have expanded our service network with new, modern facilities, we are also expanding our footprint of authorized warranty facilities as the Gulfstream fleet continues to grow around the world, including in West Africa,” Derek Zimmerman, president of Gulfstream Customer Support, stated in a news release.

Africa has long been a key market for the aircraft manufacturer, which is also looking for customers in Southeast Asia, India, and other important emerging markets. According to General Dynamics’ earnings release, Gulfstream’s parent company’s aerospac order backlog rose to $19.1 billion in the third quarter of 2022.

The Africa maintenance agreement was announced on the same day that the company announced a $150 million investment to streamline next-generation G400 production at its headquarters and flagship factory in Savannah.

Iwuajoku built his fortune by importing rice and steel rods and reinvested in the aviation and hospitality sectors. Among other ventures, he reinvested in private aviation services.

In addition to owning Execujet Aviation Nigeria, Iwuajoku is the owner of the five-star Legend Hotel located at Murtala Muhammed Airport in Lagos.