FAAN focuses on turning airports into commercial hubs

Category: Business Published on Thursday, 14 February 2013 05:00 Written by -

The Federal Airports Authority of Nigeria (FAAN) says it is focusing on making airports across the country commercial hubs to boost its revenue profile.

The Minister of Aviation Princess Stella Oduah had told our correspondent in an exclusive interview last year that, currently FAAN airports across the country have a combined potential of generating N70 billion annually but sadly, FAAN is realizing less than 30 percent of its current potential.

She had also noted that when the 22 airports are remodeled and commissioned, FAAN would be doing in excess N150 billion revenue annually.

Thus, the Managing Director, FAAN, Mr. George Uriesi recently told a visiting delegation from the United States Embassy in Lagos that the airports will be turned into commercial centres to enhance FAAN’s revenue profile.

He said that the upgrade of infrastructure at the airports in recent times was geared towards building a greater aviation future in the country, and making Nigerian airports commercially viable.

Mr. Uriesi told the delegation that FAAN was determined to change passenger’s experience of service delivery at all Nigerian airports, stressing that airport terminals of the past were for travelling only, but that modern airports have turned to commercial centers.

He explained further that some airports around the world would have folded up if they had relied solely on aeronautical sources of revenue, whereas the present trend, which FAAN has adopted, is offering more commercial opportunities that will encourage business, entertainment and leisure at airports.