The Federal Airports Authority of Nigeria FAAN says it has recovered over N5billion of outstanding debts and generated revenue of over N30 billion between January and September this year.
This is just as the agency also remitted N2billion to the Consolidated Revenue Fund Account, CRF.
Reeling out the figures in a brief address to the members of the House of Representatives Committee on Aviation during their oversight visit to Lagos, the Managing Director FAAN Captain Rabiu Yadudu said of the N30, 084,235,670 which is 43.25% of N69, 555,131,079, the nine months target set, N26, 967,455,341 was actual collection.
Giving a breakdown of the actual collection, he said N17,610,732,478 was from aeronautical sources while N5,776,622,874 was non-aeronautical sources.
According to him, “The approved revised revenue estimate for 2020 was N92,740,174,772 less than 10% deduction to NiMET and service charges made up of N51,984,585,806 from aeronautical sources, N20,699,984,381 from non-aeronautical sources and N21,806,835,846 from debt recovery”.
Capt. Yadudu added, ” from January to September 2020, the revenue target on aeronautical sources was N38,988,439,354 and actual generation totalled N17,823,332,992 out of which N17,610,732,478 is actual collection giving a percentage performance of 98.81% on revenue collected over generated”.
On the Non-aeronautical sources, the FAAN boss said the target was N15,524,988,286 with the actual generation put at N7,680,802,689 and the actual revenue collected was N5,776,622,874 giving a percentage performance of 75.21% on revenue collected over generated.
He said the monies from the various revenue sources annually were spent on personnel, overhead and capital cost and they are still expected to make remittances to the Federation Account.
Capt. Yadudu noted that FAAN presently was operating at only about 30% of its pre-Covid capacity, adding that the Authority had set up a revenue taskforce to aggressively drive revenue, follow up on outstanding debts owed and explore all possible investment opportunities.
“We are making use of our investment brochure detailing specific areas at the airports were investors can come in, aggressive sensitization is ongoing in this regard. Specific areas where effort is being focus include: adverts, car parks, private Airport terminal operators and Bi-courtney (BOT) revenue sources etc.
