Managing Director of the Federal Airports Authority of Nigeria (FAAN), Olubinmi Kuku, has revealed that only three out of the 22 airports in Nigeria are profitable.
She made this known during an appearance on Channels Television on Tuesday.
Kuku who said several states in the north and south-west wre developing new airports, said the agency will continue to cross-subsidising the other 19 airports and some of the new ones being developed.
She lamented that FAAN contributes 50 per cent of its revenue to the federal government’s coffers, saying it is a major challenge, but the agency wasin discussions with the various arms of government to seek some relief.
The FAAN boss further pointed out that passenger traffic is driven by gross domestic product (GDP) growth and economic activities rather than the construction of new airports, adding that it is important to focus on key activities such as trade, manufacturing, and tourism to increase airport traffic.
“Rather than building new airports, we need to look at the bottom of the value chain to determine what activities can drive traffic into these airports,” Kuku said.
She said FAAN is collaborating 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 initiatives in place to transform Nigeria and specific airports within the country into transit hubs.
