Nigerian president orders three new jets

Abuja, 11 Aug-(ANA)- Nigeria's cabinet today approved the purchase of three new presidential jets, a day after the government said it would have to issue bonds to fund elections due next January.

 President Goodluck Jonathan has not yet said whether he will contest the elections, but most Nigerians expect him to do so, particularly given recent announcements from his administration -- ranging from pledges to boost power supply to building more roads.

 Jonathan won cabinet approval to buy two Falcon 7X aircraft from France's Dassault Aviation and one Gulfstream G550 from the U.S. planemaker for the presidential fleet at a cost of $150 million.

 "After consideration, council approved the purchase," Information Minister Dora Akunyili told reporters after a cabinet meeting in the capital Abuja, adding that the amount was provided for in the 2010 budget.

 Nigeria's government spending is due to rise sharply this year. Parliament last month approved 445 billion naira in extra spending including pay rises for civil servants, doctors and professors.

 That supplementary spending plan comes on top of the main 4.4 trillion naira 2010 budget, meaning Nigeria's fiscal deficit is expected to increase beyond 5.4 percent of GDP, well above a 3 percent target set just three years ago.

 The finance ministry has warned that government revenues, mostly from oil sales, would not be enough to fund the budget and that the OPEC member would likely have to use up its windfall oil savings or borrow more.

 Nigerian lawmakers on Tuesday approved a planned bond issue to fund an 88 billion naira budget for the electoral commission to overhaul voter lists and buy additional ballot boxes ahead of January polls. (ANA)

FA/ANA/11 August 2010---------