Friday , 27 January 2023
The arrival hall of the new terminal

Aviation Business Summit: FAAN plans to shore up non-aeronautical revenue to 40%

THE Federal Airports Authority of Nigeria (FAAN) has said plans are underway to shore up non-aeronautical revenues to 40% from less than 30% stressing that Nigerian airports hold huge potentials and each airport has its peculiarity in terms of tourism, agriculture, mining which can be harnessed to improve their viability.

This is coming as the airports manager have said that in terms of revenue generated from January -December 2020 during the height of the COVID-19 pandemic, MMA generated 58%, NAIA, 21%, PHC 4%, Kano 4%, other airports 13%.

Director, Commercial and Business Development FAAN, Mr. Sadiku Rafindadi made this known in a paper at the opening of the Business Summit on Cargo and Aero logistics and Drone Expo at the Lagos titled: Improving Airport Non-Aeronautical Revenue Stream.

According to him, FAAN is putting in place, strategies to increase its revenue through harnessing more of its non-aeronuatical revenue sources while stating that it will not however abandon its aeronautical sources.

Rafindadi explained that the new international airport terminals in Nigeria when completed apart from Abuja and Port-Harcourt already commissioned would bring in 15 million more passengers and thus increase revenue for the airports.

“The new terminals shall open up potentials for tourism, businesses and effective use of Bilateral Air Service Agreement, BASA within partnering countries”.

“The terminals provide more space to cater to passenger preference, exciting retail facilities, Duty free shops, food and beverage outlets, advertising, car parking etc”.

“Nigerian airports have enormous potential for high gross earnings if we’ll harness, each airport have their peculiarity in terms of tourism, agriculture, mining and aerotropolis to better improve their viability”.

To shore up its revenue generation, he said FAAN was at looking at increasing the share of non-aeronautical activities from below 30% to 40%, adding that this would be done, ” by focusing on investments in airport infrastructures and technology solutions to drive cost optimization, creating enabling environment and improving none aeronautical revenue streams”.

The FAAN Business Director also disclosed that, because about N576 billion ($1.2b) is lost to medical tourism yearly in Nigeria, in addition to its airport clinics being commercialized, FAAN is designating some land area at the airport to harness non- aeronautical opportunity.

Among the top contributors to non-aeronautical revenues he listed include car parking and access gate, advertising among others.

“Nigerian airports have the ability to grow their none aero revenue considering the geographical location of the country as a hub, the available land, climate, competition, consumer demand (population)”.

He added, “with the vast land available at our airports for business, FAAN is open to Foreign Direct Investment FDI and partnership with corporate organizations on different PPP business models through BOT, JV’s and Concessions to explore opportunities for improved none aeronatical revenue streams”.

 

 

About NigerianFlightDeck

Nigerianflightdeck is an online news and magazine platform reporting business stories with a bias for aviation and travel. It is borne out of the intention to inform, educate as well as alter perceptions with balanced reportage.

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