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The Federal Airports Authority of Nigeria (FAAN) has revealed that only the airports in Lagos and Abuja are profitable in the country and the agency would like to stop the 25 per cent revenue contribution it makes to the federation account, as the other airports are being sustained by the Lagos and Abuja airports
The Managing Director of the agency, Captain Rabiu Yadudu, made revelation on Sunday, March 7, when the Senate Committee on Aviation came for their oversight function.
According to Yadudu, if the 25 per cent contribution ends, it will ensure development of the aviation sector as revenue will be put back into airports.
Stating that the Murtala Muhammed International Airport (MMIA) Lagos and the Nnamdi Azikiwe International Airport (NAIA) are sustaining other airports in the country he also highlighted the global economic challenge caused by covid-19 that has affected airline operators causing them to reduce fleet, frequencies or totally withdraw operations thereby reducing revenue generated by the agency.
Yadudu also revealed a lot of arilines are owing FAAN noting a particular airline owes N13 billion for services rendered and unpaid for.
“On the capacity and contribution of airports to revenue generation, it is the MMIA and Abuja that mainly supports other airports. The industry is still having infrastructural gap to stabilise, therefore, government’s support in stabilising the industry is needed. This can be achieved by suspending the contributions to the Federation Account in compliance with ICAO standards and recommended practices (SARPs) Doc 9562 on airport generation which provides that: Revenue generated by the airport should be transparently re-invested wholly in operating and developing airport facilities,” he said.
Chairman Senate Committee on Aviation, Senator Smart Adeyemi, reacted to Yadudu's message saying they will have to re-edit the Constitution to stop the contribution from being made.
“The MD has been talking to us on aviation, especially FAAN, to be able to keep a good percentage of its resources generated internally. I have nothing against that for me; I feel it is good to keep so to be able to carry out the ever increasing need to maintain standards and to update the facilities of the industry but again these are issues that border on constitutional provisions as money must be appropriated for,”Adeyemi said.
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Let every region stand on their feet. This monkey dey work baboon dey chop is evil and killing innovation
No surprises here
With all the money generated and unnecessary taxing see as the airports dey. Airport Agberos.
The airline owing 13bn is most likely Arik and cos of their owners nothing dey happen. No other airline in Nigeria can get that concession. If Air peace owes FAAN a fraction of that amount they’ll be immediately shut down and bought over by politicians.
So 75% revenue is not enough to maintain standard and upgrade on the airports! If 75% is too small, I wonder what the remaining 25% will do. The only thing they efficiently is to share our common wealth into their private accounts.
Smart Adeyemi is an armed robber. Why him no go gree... Full blown broad day light robbery taking place in Nigeria.
The issue is corruption. There will never be enough to satisfy the greed of these ungrateful souls. Was there ever a time that these airports were profitable. Right from the days of Nigerian Airways.... Very unfortunate.
Why won’t they be? How many international airlines even fly from other international airports in Nigeria? Even all local airlines don’t fly to/from phc. Flights to Dulles from ph cost more than 300k extra. You’ll see an almost empty aircraft when they drop off abj passengers before heading to ph. So what’s the point wasting all that extra money?