Three out of 22 Nigerian Airports Profitable, Says FAAN

The Federal Airports Authority of Nigeria (FAAN) has revealed that only three out of Nigeria’s 22 international and domestic airports are profitable. Olubunmi Kuku, Managing Director of FAAN, disclosed this during an interview with Channels Television on Tuesday. She emphasized that 19 airports require subsidies as they do not generate sufficient passenger traffic to cover operational costs.

Kuku highlighted the urgent need for infrastructure upgrades across many of these airports, including terminals, landside areas, and airside facilities. She pointed out that several runways have exceeded their 20-year validity period and are due for renovation, with FAAN prioritizing these developmental goals for the current year.

“Based on current statistics, only three of the 22 airports are profitable and significantly contribute to sustaining our operations,” Kuku stated. “We are currently cross-subsidizing the other 19 airports, and this will continue as we support new airports coming into operation.”

She underscored the importance of optimizing existing airport activities rather than constructing new ones. “Instead of building new airports, our focus should be on enhancing the activities that can increase traffic to these airports,” Kuku added.