FAAN Grows Revenue to N343bn

 The Federal Airports Authority of Nigeria (FAAN) has reported a significant revenue growth of N343 billion in 2024, marking a notable increase from previous years. This boost in earnings is attributed to improved airport services, strategic investments, and better financial management.

FAAN’s earnings were primarily driven by increased aeronautical and non-aeronautical revenues, including landing fees, passenger service charges, and lease agreements with businesses operating within airports.

According to FAAN’s Managing Director, Mrs. Olubunmi Kuku, the Murtala Muhammed International Airport in Lagos and the Nnamdi Azikiwe International Airport in Abuja contributed the highest revenue, with regional airports also recording a positive financial turnaround.

FAAN highlighted recent infrastructural improvements, such as the renovation of runways, enhanced passenger screening systems, and digitization of airport services. The implementation of automated payment systems has also reduced leakages in revenue collection.

With ongoing expansion projects, including terminal upgrades and increased cargo handling capacity, FAAN anticipates further revenue growth in 2025. The agency also reaffirmed its commitment to maintaining global aviation standards while improving passenger experience.