The Minister of Aviation and Aerospace Development, Festus Keyamo, has expressed concerns over the country’s airport infrastructure, adding that for airports to be viable, they must have the infrastructure to support current and future demand.
He further stated that without thriving airports, there can be no thriving aviation industry, hinting that airport viability was not just a priority but a necessity for any ambitious aviation business.
Recall that the Managing Director of the Federal Airport Authority of Nigeria (FAAN) recently said that only three airports out of the 22 in Nigeria managed by FAAN were profitable. He listed airport infrastructure to not include runways and terminals but also integrated transportation systems that connect airports to surrounding areas.
The Minister noted that it was essential to prioritise infrastructure development that enhances capacity, reduces bottlenecks, and improves the overall passenger experience.
In his keynote address by the Permanent Secretary, Ministry of Aviation and Aerospace Development, Dr. Emmanuel Meribole, who represented him at the 9th Airport Business Summit and Expo held in Lagos with the theme: “Airport Viability is Key to Successful Aviation Business Ambition”, the Minister said airports must be financially self-sufficient, with diverse revenue streams that can weather fluctuations in passenger traffic and external shocks.
This, according to him, includes maximising revenue from non-aeronautical sources such as retail, real estate, and parking, as well as smart investments in infrastructure that yield long-term returns.
He further stated that the President Bola Tinubu administration was geared towards making the country’s airports viable, stressing that in line with these focus areas, they were working towards ensuring sustainable financial models for the aerodromes by embracing public-private partnerships, infrastructural development, aviation human capital development as well as embracing eco-friendly practices and policies, reducing carbon footprint, and integrating renewable energy sources.
He disclosed that the present administration was fostering partnerships, and collaborations among industry stakeholders, government authorities, and local communities.
He said: “Airport viability is indispensable in the pursuit of a successful aviation business ambition. By recognising its significance and collectively committing to its enhancement, we can steer the sector towards greater prosperity, resilience, and excellence.”
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