FG Releases List of 20 Most Viable Airports in Nigeria, Their Revenue amid Concession Plans

• The Federal Airports Authority of Nigeria (FAAN) has said about 20 Nigerian airports are viable and generated over N300 billion in 2024
• A document from FAAN showed that Nigeria’s four international biggest airports generated the bulk of the revenue
• The report said that the Murtala Mohammed Airport (MMA) in Lagos, Port Harcourt, Abuja Airport and Kano airports generated over 80% of the revenue

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

About 20 Nigerian airports have netted N382.1 billion from January to December 2024.

According to available documents, the Murtala Mohammed Airport (MMA) in Lagos generated 67% of the entire revenue followed by the Nnamdi Azikiwe Airport at 21.3%.

Nigeria’s Big Four revenue

The figure on contribution on generation and collection by the Federal Airports Authority of Nigeria (FAAN) between January and December last year, disclosed that MMA generated N256.067 billion followed by Abuja at N81.219.777 billion, while Kano and Port Harcourt airports generated 20.240 billion and N10.764 billion respectively. The headquarters generated N6,532 billion.

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The FAAN document shows that the four main international airports including Lagos, Abuja, Kano and Port Harcourt, generated 96.4% of the entire revenue, while other airports generated zero naira in the review period.

List of airports and their revenue

According to the FAAN document, Enugu airport generated N3.617 billion representing 0.9% in the review year, Benin earned N678.644 million, Owerri generated N641.504 million, and Maiduguri raked in N396,586 million.

Others are Yola airport which generated N316,910 million, Sokoto made N298.631.244, and Calabar airport generated N292.572 in the review period,

Additionally, Ilorin Airport generated N247.752, Ibadan airport generated N278,164 million, job earned N96 million, Kaduna generated N91.5 million, Minna generated N51,5 million, Akure airport generated N190 million, Katsina generated N113.7 million, Makurdi made N10.1 million, while Zaria generated N1.5 million.

Daily Trust reports that the FAAN document did not disclose the revenue stream as the agency has multiple income sources from aeronautical and non-aeronautical charges from airlines, service providers and other operators at different airports.

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Experts doubt revenue from Lagos

Experts doubted the figure, saying Lagos can generate N300 to N500 billion from passenger service charges, landing and parking charges alone.

According to aviation experts, from two million outbound international passengers and 30,000 international flights annually, the amount exceeded N400 billion.

Resorts say that FAAN collects about N2,000 as PSC from domestic passengers and $100 from international passengers.

Stakeholders kick as FG plans concession

Meanwhile, aviation stakeholders have opposed the concession plans of the Nigerian government.

The government reportedly plan to concede the nation's four biggest airports, saying accessioning them would mean the end of smaller airports, which are maintained from revenues from the big four.

The concession plans were quashed under the previous administration of President Muhammadu Buhari, despite the ex-aviation minister, Hadi Sirika, announcing the concession of two airports.

Reports say, the minister of Aviation and Aerospace Development, Festus Keyamo, said the concession process is ongoing and promised to be transparent in the exercise.

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Another Nigerian airport to close for upgrade

Legit.ng earlier reported that FAAN had announced the closure of Samuel Ladoke Akintola Airport in Ibadan, Oyo state.

In a statement released over the weekend, FAAN said the closure is to facilitate extensive upgrade works aimed at enhancing the airport’s infrastructure and operational standards.

The agency also confirmed that the Federal Government of Nigeria had approved the closure.

Source: Legit.ng