The Federal Airports Authority of Nigeria (FAAN) has announced a remarkable increase in revenue generation, recording N343.87 billion between January and November 2024. This represents a significant leap of over 100% compared to the N155.49 billion generated in the same period the previous year. The achievement comes despite ongoing infrastructural deficits at airports across the country.
According to sources within the aviation sector, the bulk of the revenue was generated from major airports in Lagos, Abuja, and Port Harcourt. The surge in earnings has been attributed to strategic reforms implemented by FAAN’s Managing Director, Mrs. Olubunmi Kuku, who assumed office with a focus on eliminating revenue leakages and reducing operational waste that had plagued the agency for years.
In January 2025, Mrs. Kuku revealed that FAAN requires approximately N580 billion to rehabilitate aging airport runways nationwide, many of which have exceeded their operational lifespan. She also highlighted the urgent need for upgrades to other critical infrastructure, including terminals, which have been impacting operational efficiency and safety.
Under Mrs. Kuku’s leadership, FAAN has undertaken several initiatives to optimize revenue generation. These include a comprehensive review and adjustment of aeronautic and non-aeronautic tariffs to reflect current economic realities, re-evaluation of concession agreements, and the introduction of flexible pricing models to align with operational costs. Additionally, the agency has completed and commenced test operations for a multi-level car park at the Nnamdi Azikiwe International Airport in Abuja, installed prepaid meters for concessionaires and government agencies to curb revenue losses, and streamlined work processes to improve efficiency.
Despite these achievements, Mrs. Kuku emphasized that FAAN continues to face significant challenges, including aging infrastructure, security risks, and land encroachment. Many of the agency’s facilities, such as terminals and runways, are in dire need of modernization, while security concerns persist due to inadequate perimeter fencing and outdated surveillance systems. Furthermore, FAAN struggles with a shortage of skilled personnel and outdated equipment, which hampers its ability to meet the growing demands of the aviation industry.
Mrs. Kuku described FAAN as a vital national asset, essential for both airport operations and economic development. She called for sustained investment in human and physical capital to ensure the continued growth and modernization of Nigeria’s airports. She also outlined plans to enhance passenger experiences through the adoption of advanced technologies, improved customer service training, and seamless operational processes across all airports.
While the revenue growth marks a significant milestone, Mrs. Kuku acknowledged that the funds have yet to translate into substantial improvements in airport infrastructure. She urged stakeholders to support FAAN’s efforts to address these challenges and ensure the long-term sustainability of Nigeria’s aviation sector.
FAAN’s recent achievements and ongoing challenges underscore the need for continued collaboration between the government, private sector, and international partners to transform Nigeria’s airports into world-class hubs capable of supporting the country’s economic ambitions.
