Aviation contributes $1.7bn to Nigeria's GDP - FAAN

The Federal Airports Authority of Nigeria (FAAN) has revealed that the aviation sector now contributes $1.7 billion to the country’s Gross Domestic Product (GDP).

Olubunmi Kuku, FAAN’s Managing Director, made this known at the launch of the book “100 Years of Civil Aviation in Nigeria” by Wole Shadare in Lagos.

According to Kuku, this milestone is a testament to the efficacy of market-driven solutions in Nigeria’s aviation industry.

She attributed the achievement to private sector involvement, citing the introduction of fresh capital, modern management practices, and a competitive spirit.

“The private sector took the initiative, and companies like Air Peace and Arik Air revolutionised the aviation landscape,” Kuku said. She highlighted the current state of the industry, noting 39 certified airline operators, 31 airports nationwide, and over 2,100 licensed pilots.

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Kuku stated that the aviation sector’s contribution to the GDP is approximately $1.7 billion, with private airlines connecting cities efficiently and international carriers recognising Nigeria as a critical market.

She disclosed that over 16 million passengers used domestic terminals, while international passenger numbers exceeded 3.5 million.

While acknowledging the industry’s impressive growth, Kuku emphasised that there is still substantial potential for growth. She encouraged investors to view challenges such as infrastructure deficiencies, regulatory frameworks, and financing requirements as opportunities rather than obstacles.

“The forthcoming chapter of Nigerian aviation will be authored by those who recognise that our skies are not merely thoroughfares for aircraft, but highways to prosperity,” she said.

Ifeoma Okeke-Korieocha

Ifeoma Okeke-Korieocha is the Aviation Correspondent at BusinessDay Media Limited, publishers of BusinessDay Newspapers. She is also the Deputy Editor, BusinessDay Weekender Magazine, the Saturday Weekend edition of BusinessDay. She holds a BSC in Mass Communication from the prestigious University of Nigeria, Nsukka and a Masters degree in Marketing at the University of Lagos. As the lead writer on the aviation desk, Ifeoma is responsible and in charge of the three weekly aviation and travel pages in BusinessDay and BDSunday. She also overseas and edits all pages of BusinessDay Saturday Weekender. She has written various investigative, features and news stories in aviation and business related issues and has been severally nominated for award in the category of Aviation Writer of the Year by the Nigeria Media Nite-Out awards; one of the Nigeria’s most prestigious media awards ceremonies. Ifeoma is a one-time winner of the prestigious Nigeria Media Merit Award under the 'Aviation Writer of the Year' Category. She is the 2025 Eloy Award winner under the Print Media Journalist category. She has undergone several journalism trainings by various prestigious organisations. Ifeoma is also a fellow of the Female Reporters Leadership Fellowship of the Wole Soyinka Centre for Investigative Journalism.