FAAN revenue may hit N19bn from five airports in 2019
There are indications that the Federal Airports Authority of Nigeria (FAAN) may earn a whopping sum of N19.3 billion Naira from five viable airports alone in 2019.
This is the position of Nigeria Aviation Annual Report committee as contained in its 2019-2020 projections analysed at the 10th Nigeria Aviation (NIGAV 2019) Awards held in Lagos.
According to the report, over the years, FAAN has not recorded significant increase in its revenue due largely to non-exploration of other revenue potentials.
It, however, projected that in 2019, the agency would record less revenue than in 2018 because of relatively low passengers’ movement in domestic travel and the closure of Enugu Airport.
Breaking down FAAN’s expectations, the report stated that “The agency expects to earn over N10 billion from the Murtala Mohammed International
Airport (MMIA); Abuja airport may likely yield N4 billion, Kano, N2 billion, Port HarcourtN2 billion and Owerri, N1.3 billion, totalling about N19.3 billion.”
The report also revealed that in 2020, the symmetry on national carrier and airport concession, which are major programmes of the President Mohammadu administration, will become clearer.
In the report, the committee members insist that there are huge potentials for business in the aviation industry, advising that more airlines, service providers like Aero Contractors maintenance facility are capable of attracting new investors in the new year.
In his welcome address, Fortune Idu, managing director of FCI International Limited, organisers of NIGAV 2019 explained that NIGAV committee is made up of both government and non-government agencies starting with representatives of the Federal Ministry of Aviation, Mr Gambo representing
FAAN, Mr Adamu Abdullahi for Nigeria Civil Aviation Authority, Mr Tunji Oketunbi of Accident Investigation Bureau (AIB), Kingsley Ezenwa of Dana Air, Mrs Nosa Aitumen, Wole Shadare, Collins Ginika and Miss Chiogo Okani.
Mr Idu said NIGAV is one of the most prestigious air transport development award and has become the benchmark for excellence in promoting healthy competition and rewarding best practices.
Idu said that with over 150 recipients honoured since inception 10 years ago, NIGAV Awards in this year’s edition alone gave out 40 awards, honours and recognitions in addition to charity donations to SOS Children’s Village in this year edition.
The NIGAV convener informed that the long-awaited land lease to FCI International Limited by the FAAN signed a land lease to Set up a permanent befitting centre for development and international trade promotions within the corridor of MMIA, called the NIGAV Conference and Exhibition Centre.
He said such business initiative will inspire further creativity, open market opportunities to showcase Nigerian produce and bring other events and conferences closer to Nigeria’s number one commercial gateway-MMIA.
“NIGAV brand has become an indisputable marketing instrument for Nigeria airports and Nigeria aviation and with the NGAV Centre, you all are welcome
to join in the effort and host your event at the Expo Centre and attract international investment community to our air transport corridor”, Idu stated.
Also speaking at the occasion, General Manager Corporate Communications of FAAN, Mrs Henrietta Yakubu commended organisers of NIGAV Award just as she appealed to air travellers to minimize the number of persons taken into the airport to reduce airport congestion during the yuletide season, as the season brings about a lot of congestion because of the inflow and outflow of travellers.
“Mr Fotune Idu has always put us in check. For each year that he comes up with this event, there are certain issues that come up and we are trying to do our best. We want to thank Mr Idu for his good works and we are going to get there eventually”, Yakubu noted.
