FAAN plans 30% revenue growth despite Covid-19 impediments
Federal Airports Authority of Nigeria (FAAN) Captain Rabiu Hamisu Yadudu has said that non-aeronautic revenue has opened a vista for tremendous opportunity to grow with plans to increase the revenue to 30% by the end of the second quarter of 2022.
This is as he said due to newer variants of the COVID-19, deliberate steps must be taken to ensure the agency stays afloat and come out stronger from the pandemic as aeronautical revenues are under severe pressure due to the pandemic.
The FAAN boss made these known at the FAAN Breakfast Meeting in Lagos with theme: Sustainable Aviation Business in a Post Pandemic- The Role of FAAN’s Management where he revealed that the pressures on aeronautical revenue are not too dependable due to the pandemic.
He explained that non aeronautical revenue presents tremendous opportunities to grow and diversify FAANs revenue base.
“It currently accounts for 27.5% of our total revenue and has increased by 8.3% Year on Year from August 2016 till date. Our target from this meeting is to increase this to at least 30% by the end of 2nd Quarter of 2022 as well as come up with other strategies for building sustainable aviation business amidst the pandemic,” Yadudu stressed.
Captain Yadudu also expressed confidence that the FAAN team can achieve the goals set with innovation, determination and commitment as it has a number of collaborative efforts to attain this.
He emphasized continuous investment in infrastructure and capacity building as well as ensuring safety and security. He called for management to emphasise operational efficiency while stressing that all technics must be employed to accomplish the goals in the most cost-effective and timely manner as there will be no room for wastage or abuse.
