• About Us
  • Contact Us
  • Privacy & Policy
Saturday, August 2, 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

High Interest Rate Tops Business Constraints in Nigeria
Economy

High Interest Rate Tops Business Constraints in Nigeria

1 week ago
Naira depreciates against dollar twice in one week
Economy

Naira depreciates against dollar twice in one week

2 weeks ago
Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide
Economy

Dangote Refinery Targets 700,000 BPD Capacity by Year-End

2 weeks ago
Nigerian Stock Market Gains N833bn as Dangote, BUA Lead Rally
Economy

Nigerian Stock Market Gains N833bn as Dangote, BUA Lead Rally

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

FG Lifts Restrictions on NYSC Members’ Deployment to Private Sector, Open Doors to Banks and Oil Companies
National

2002 Corp members commences  Batch B Stream One orientation in Rivers State

13 hours ago
Governor Adeleke Denies PDP Defection Rumour
National

Gov Adeleke deny rumoured plan of defection to ADC

15 hours ago
Nurses’ strike lingers to third day as patients across hospitals remain stranded
National

Striking nurses deny suspending strike, to review FG’s offer today

16 hours ago
CLO Rejects Timetable for Council Elections in Rivers State 
National

CLO Rejects Timetable for Council Elections in Rivers State 

1 day ago
Peter Obi Can Return to PDP Without Wike Obstruction – Jacob Mark
National

Peter Obi Can Return to PDP Without Wike Obstruction – Jacob Mark

2 days ago
Nigeria Government Mini-Grid Energy Project Targets 138,000 Citizens
National

FEC approves ₦68.7bn for power projects universities, teaching hospitals

2 days ago

POLITICS

Why I left APC for the ADC — Usani Usani

Why I left APC for the ADC — Usani Usani

15 hours ago
2027: Why Peter Obi may return to PDP

2027: We have no plans of defecting to APC or elsewhere – Enugu PDP stakeholders

16 hours ago
We’ll reclaim power in Cross River – Liyel Imoke

We’ll reclaim power in Cross River – Liyel Imoke

2 days ago
ADC Warns APC: 2027 Presidential Election Not a Birthright

ADC Warns APC: 2027 Presidential Election Not a Birthright

3 days ago
Peter Obi, El-Rufai Granted Waiver Ahead 2027 Election

Peter Obi, El-Rufai Granted Waiver Ahead 2027 Election

3 days ago
Reps queries Ibas over N24bn for CCTV, N30bn for gunboats in Rivers’ 2025 budget

Rivers State Urges Demand-Driven Projects for Border Communities 

3 days ago

YOUR ECONOMY

High Interest Rate Tops Business Constraints in Nigeria
Economy

High Interest Rate Tops Business Constraints in Nigeria

1 week ago
Naira depreciates against dollar twice in one week
Economy

Naira depreciates against dollar twice in one week

2 weeks ago
Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide
Economy

Dangote Refinery Targets 700,000 BPD Capacity by Year-End

2 weeks ago
Nigerian Stock Market Gains N833bn as Dangote, BUA Lead Rally
Economy

Nigerian Stock Market Gains N833bn as Dangote, BUA Lead Rally

2 weeks ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

Marketers kick against Dangote’s plan to crash price of cooking gas

3 weeks ago
Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion
Economy

Senate Threatens Arrest of NNPCL Boss over missing N210 Trillion

1 month ago

E & P

Super Falcons Receive OON Honour, $100K, and Apartments for WAFCON 2024 Win
Sports

Super Falcons Receive OON Honour, $100K, and Apartments for WAFCON 2024 Win

by Tammy Opoki
5 days ago
0

The Federal Government has conferred the Officer of the Order of the Niger (OON) National honour on the Super Falcons...

NPFL Set to Kick-Off 2025/2026 Season Aug. 22

NPFL Set to Kick-Off 2025/2026 Season Aug. 22

5 days ago
Tinubu Celebrates Super Falcons’ WAFCON 2024 Victory

Tinubu Celebrates Super Falcons’ WAFCON 2024 Victory

6 days ago
African School Games: Team Nigeria Arrives Annaba, Algeria 

African School Games: Team Nigeria Arrives Annaba, Algeria 

6 days ago
NFF Appoints Manu Garba as Golden Eaglets Coach

NFF Appoints Manu Garba as Golden Eaglets Coach

1 week ago
Pay All Allowances, Bonuses of Super Falcons immediately – President Tinubu 

Pay All Allowances, Bonuses of Super Falcons immediately – President Tinubu 

1 week ago

YOUR THOUGHT & HISTORY

Tribute to Old Port Harcourt Boy (Peter Rufai)
Columns

Tribute to Old Port Harcourt Boy (Peter Rufai)

by Tammy Opoki
2 weeks ago
A Democracy Strained: Buhari’s Human Rights Record and the Repression of Dissent
Columns

A Democracy Strained: Buhari’s Human Rights Record and the Repression of Dissent

by Odini Brains
3 weeks ago
El-Rufai Plans New Party as ADC Backup Against APC Interference
Columns

The Shadow Strategist: El-Rufai, the Illusion of Power, and 2027’s Looming Reckoning

by Odini Brains
4 weeks ago
Columns

Kidnapped, Silenced, Vindicated: The Full Impact of Kanu’s Judgment

by Odini Brains
1 month ago
The Emerging Kogi: Economic Growth Impact Transforming Better Reality
Columns

The Emerging Kogi: Economic Growth Impact Transforming Better Reality

by Kiikpoye Karibo
1 month 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

FG Lifts Restrictions on NYSC Members’ Deployment to Private Sector, Open Doors to Banks and Oil Companies

2002 Corp members commences  Batch B Stream One orientation in Rivers State

August 2, 2025
Why I left APC for the ADC — Usani Usani

Why I left APC for the ADC — Usani Usani

August 2, 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