• About Us
  • Contact Us
  • Privacy & Policy
Wednesday, October 22, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

FAAN: Only Three of Nigeria’s Twenty-Two Airports Are Financially Viable

Michael Songu by Michael Songu
July 10, 2024
in Economy
Reading Time: 3 mins read
A A
0
FAAN: Only Three of Nigeria’s Twenty-Two Airports Are Financially Viable
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram

According to the Federal Airports Authority of Nigeria (FAAN), only three of the twenty-two airports in Nigeria are profitable.

FAAN Executive Director Olubunmi Kuku on a broadcast on Tuesday said several states in the North and Southwest are building new airports. She said the authority is also cross-subsidising 19 other airports and will continue to subsidise some airports under construction. “I said at the outset that we have 22 airports which we own and manage,” Kuku said.

“In addition, we have six or seven airports owned by state governments or private individuals and companies that also support aviation security services and fire and rescue services.
“We have upcoming new airports in several states in the North and Southwest.

“Based on today’s statistics, I would say that out of the 22 airports, only three are truly profitable and contribute significantly to the livelihood of the airport companies that we operate.

“Today, we are actually cross-subsidizing the other 19 airports and in most cases we will be substituting or cross-subsidizing some of the new airports.

“Kuku said FAAN contributes 50 percent of its revenue to the federal coffers which is a major challenge, adding that this is a big challenge and the agency is in talks with various government departments for some relief.

The FAAN boss said passenger traffic would be driven by gross domestic product (GDP) growth and economic activity, not the construction of new airports. Kuku also said to increase airport traffic, it was important to focus on key activities such as trade, manufacturing and tourism. “Rather than building new airports, we need to look at the lower end of the value chain to determine what activities can drive traffic to these airports,” Kuku said.

She said FAAN is working closely with international organisations including the International Air Transport Association (IATA) and the Federal Ministry of Aviation to expand both domestic and international routes.

Kuku said there are efforts to turn some airports in Nigeria and across the country into transit hubs. “What this means is that we are beginning to build an airport network where we can move feeder flights to other states and other places to start using the airports,” she said.

The FAAN representative noted that close to four million passengers currently travel internationally from Nigeria, stressing that efficient utilisation of infrastructure is vital to the preservation and maintenance of facilities.

Tags: business
Michael Songu

Michael Songu

Related Posts

Dangote Refinery Boosts Fuel Supply as Petrol Price in Nigeria Rises to ₦955 Per Litre
Economy

Fuel price drops as marketers resume loading at Dangote Refinery

2 days ago
Dangote Refinery Boosts Fuel Supply as Petrol Price in Nigeria Rises to ₦955 Per Litre
Economy

Dangote Refinery Boosts Fuel Supply as Petrol Price in Nigeria Rises to ₦955 Per Litre

1 week ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

We never imported bad fuel – Dangote Refinery

2 weeks ago
Naira Appreciates to N1,465/$ as External Reserves Reserves Jump to $42.4bn
Economy

Naira Appreciates to N1,465/$ as External Reserves Reserves Jump to $42.4bn

2 weeks ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Supreme Court reserves judgment in PDP’s suit against Rivers emergency rule
National

Supreme Court reserves judgment in PDP’s suit against Rivers emergency rule

17 hours ago
Doctors strike: NARD to review FG’s response
National

Doctors strike: NARD to review FG’s response

17 hours ago
Majority Leader didn’t break my head – Abia Assembly member Akachukwu
National

Majority Leader didn’t break my head – Abia Assembly member Akachukwu

17 hours ago
TCN announces power outages in Abuja, Enugu
National

TCN announces power outages in Abuja, Enugu

17 hours ago
PDP Has No Chance in 2027, Says Former APC Treasurer
National

Forum of APC chairmen want life membership of party’s NEC

17 hours ago
Peter Obi, El-Rufai Granted Waiver Ahead 2027 Election
National

Stop clamping down opposition over alleged coup plot – ADC tells FG

2 days ago

POLITICS

Peter Obi, El-Rufai Granted Waiver Ahead 2027 Election

Stop clamping down opposition over alleged coup plot – ADC tells FG

2 days ago
Some southeast politicians, businessmen prefer Nnamdi Kanu’s continued detention — Iwuanyanwu

Some southeast politicians, businessmen prefer Nnamdi Kanu’s continued detention — Iwuanyanwu

2 days ago
At my level, I can’t secretly defect to APC — Suswam

At my level, I can’t secretly defect to APC — Suswam

3 days ago
Arewa group lambast PDP Spokesperson over disrespectful comments on Ugwuanyi

Arewa group lambast PDP Spokesperson over disrespectful comments on Ugwuanyi

5 days ago
2027: Murray-Bruce defection to APC not surprising – Dele Momodu

2027: Murray-Bruce defection to APC not surprising – Dele Momodu

5 days ago
Breaking News: Former vice president Atiku Abubakar resigns from PDP

Atiku’s greed cause of PDP’s gradual demise

6 days ago

YOUR ECONOMY

Dangote Refinery Boosts Fuel Supply as Petrol Price in Nigeria Rises to ₦955 Per Litre
Economy

Fuel price drops as marketers resume loading at Dangote Refinery

2 days ago
Dangote Refinery Boosts Fuel Supply as Petrol Price in Nigeria Rises to ₦955 Per Litre
Economy

Dangote Refinery Boosts Fuel Supply as Petrol Price in Nigeria Rises to ₦955 Per Litre

1 week ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

We never imported bad fuel – Dangote Refinery

2 weeks ago
Naira Appreciates to N1,465/$ as External Reserves Reserves Jump to $42.4bn
Economy

Naira Appreciates to N1,465/$ as External Reserves Reserves Jump to $42.4bn

2 weeks ago
BREAKING NEWS: PENGASSAN Declares Nationwide Strike.
Economy

BREAKING NEWS: PENGASSAN calls off strike

3 weeks ago
You’re scaring off investors – Senator Karimi warns PENGASSAN over feud with Dangote Refinery
Economy

You’re scaring off investors – Senator Karimi warns PENGASSAN over feud with Dangote Refinery

3 weeks ago

E & P

2026 World Cup qualifying play-offs: We are ready for Nigeria – Gabon coach
Sports

2026 World Cup qualifying play-offs: We are ready for Nigeria – Gabon coach

by Steven Atogi
6 days ago
0

The national team coach of Gabon, Thierry Mouyouma, has said that his team is ready to tackle Nigeria in the...

2026 World Cup playoffs: Super Eagles likely to play Gabon

2026 World Cup playoffs: Super Eagles likely to play Gabon

1 week ago
EPL: They’ll be beaten – Paul Scholes predicts winner in Liverpool vs Man Utd

EPL: They’ll be beaten – Paul Scholes predicts winner in Liverpool vs Man Utd

2 weeks ago
EPL: Amorim should use Mbeumo as striker over Sesko — Owen

EPL: Amorim should use Mbeumo as striker over Sesko — Owen

3 weeks ago
Xavi Hernandez hinted to replace Ruben Amorim at Old Trafford

Xavi Hernandez hinted to replace Ruben Amorim at Old Trafford

3 weeks ago
Dembele wins 2025 Ballon d’Or ahead of Yamal [Full list]

Dembele wins 2025 Ballon d’Or ahead of Yamal [Full list]

4 weeks ago

YOUR THOUGHT & HISTORY

NASS Rubber-Stamp Tinubu: PDP Chieftain Blasts Legislature, Calls Akpabio ‘Unfit’
National

NASS Rubber-Stamp Tinubu: PDP Chieftain Blasts Legislature, Calls Akpabio ‘Unfit’

by Steven Atogi
2 weeks ago
The Union, the Tycoon, and the State: Dangote versus PENGASSAN War, A New Precedent for Nigerian Labour
Opinion

The Union, the Tycoon, and the State: Dangote versus PENGASSAN War, A New Precedent for Nigerian Labour

by Odini Brains
3 weeks ago
HOW MR EAZI, OTEDOLA’S SON-IN-LAW, BUILT AN 18-COUNTRY EMPIRE
Opinion

HOW MR EAZI, OTEDOLA’S SON-IN-LAW, BUILT AN 18-COUNTRY EMPIRE

by Odini Brains
2 months ago
Mr Eazi and Temi Otedola: A Love Story That Traveled Three Continents
National

Mr Eazi and Temi Otedola: A Love Story That Traveled Three Continents

by Odini Brains
2 months ago
The Rise And Fall Of Sports Institute, Isaka
Columns

The Rise And Fall Of Sports Institute, Isaka

by Tammy Opoki
2 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

Supreme Court reserves judgment in PDP’s suit against Rivers emergency rule

Supreme Court reserves judgment in PDP’s suit against Rivers emergency rule

October 22, 2025
Doctors strike: NARD to review FG’s response

Doctors strike: NARD to review FG’s response

October 22, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address