Olubunmi Kuku, Managing Director of Federal Airports Authority of Nigeria (FAAN), has said that Nigeria’s high passenger and airport numbers rank it among the top countries in the world.
“Nigeria plays a dynamic role in the aviation industry. We are one of the top when it comes to passenger traffic in the world and also in the number of airports we have within our airport management company,” Kuku said.
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She said this at BusinessDay CEO Forum 2024 themed, ‘Leadership in the Economic Times.’
According to the National Bureau of Statistics, the sector’s contribution to real GDP in Q1 of 2024 was 1.18 percent. She said that to improve further, FAAN is implementing cost reduction measures, using sustainable business models like outsourcing junior staff, and working towards revenue diversification.
“Our revenue is very dependent on aeronautic revenue (80 percent) and 20 percent from non-aeronautical revenue,” she said.
She also mentioned that they are looking to get tax incentives and special economic zone incentives. “It is important that we become an envisioned organisation at FAAN,” she said. According to her, FAAN is taking both business sustainability measures and environmental sustainability measures.
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“We are introducing electric buses, leveraging solar in some of our airports are some of the initiatives we are embarking on to reduce our carbon emission,” she said.
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