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    Only Three Of 22 Airports Profitable, Others Subsidised — FAAN

    Platform Times NewspaperBy Platform Times NewspaperJuly 9, 2024 Business No Comments1 Min Read
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    The  Managing Director of the Federal Airports Authority of Nigeria (FAAN), Olubunmi Kuku, disclosed that only three out of Nigeria’s 22 international and domestic airports are commercially viable. 

    PLATFORM TIMES reports that the  remaining 19 airports are heavily subsidised due to insufficient passenger traffic to cover operational costs.

     She noted that several runways have surpassed their 20-year validity period and are due for upgrades, saying,FAAN plans to prioritise this year.

    “Economic activities in states where airports are built drive passenger traffic and not the construction of new airports,” Kuku emphasized. 

    She advised state governors to focus on enhancing manufacturing, trade, and tourism within their regions to increase passenger traffic and revenue, rather than building new airports.

    Source : Channels TV

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