The Federal Airports Authority of Nigeria (FAAN) has significantly boosted its revenue, surpassing N343 billion between January and November 2024, more than double the N155 billion generated the previous year.
A large portion of this revenue comes from Lagos, Abuja, and Port Harcourt airports, with the FAAN’s current Managing Director, Mrs. Olubunmi Kuku, credited for implementing measures to eliminate revenue leakages and cut waste.
“One of our main objectives was to block revenue leakages and cut down on inefficiency. This has been key in achieving such significant growth in revenue,” Kuku explained.
However, despite the financial success, the FAAN continues to struggle with aging infrastructure and security challenges. Kuku highlighted the urgent need for N580 billion to rehabilitate airport runways and other infrastructure, with many facilities past their operational lifespan.
“Many of FAAN’s facilities, including terminals and runways, are ageing and need significant repairs and upgrades. This affects operational efficiency and safety,” she said.
The authority is also grappling with issues such as land encroachment and inadequate security systems, with some airports suffering from obsolete equipment and insufficient staffing.
Despite these challenges, Kuku emphasized FAAN’s commitment to improving the passenger experience through technological advancements and better customer service.
“FAAN will prioritize enhancing passenger experience by implementing advanced technologies, improving customer service training, and ensuring seamless operations across all airports,” Kuku added.
These efforts are part of FAAN’s broader goal to modernize Nigeria’s airports, ensuring they remain competitive in an evolving aviation sector.