Committee set up to boost revenue generation at Federal Airports Authority of Nigeria (FAAN)

Lagos - In a move to enhance revenue generation and address loopholes in the system, Mr. Festus Keyamo, the Minister of Aviation and Aerospace Development, has formed a committee to delve into the revenue profile of the Federal Airports Authority of Nigeria (FAAN). This strategic initiative aims to explore untapped sources of revenue for the agency and bolster its revenue generation.

The committee, led by Dr. Emmanuel Meribole, the Permanent Secretary of the Ministry of Aviation and Aerospace Development, has been tasked with analyzing various aspects related to revenue generation. Their focus will include exploring advertisement opportunities within airports, streamlining the ticketing system at FAAN facilities, and examining the existing waivers on payment for FAAN services.

According to a statement issued by Mr. Abdulahi Yakubu-Funtua, the Director of Public Affairs and Consumer Protection, the Minister expects the committee to provide a comprehensive report within four weeks. This report should encompass a detailed examination of the revenue profile of FAAN, as well as offering practical recommendations to maximize revenue generation.

The Minister expressed optimism about the potential opportunities to boost revenue at FAAN. During briefings with the FAAN management, he highlighted numerous untapped sources of revenue, urging the committee to explore and exploit these opportunities to their fullest extent.

The establishment of the committee signifies the government's commitment to addressing revenue leakages and enhancing revenue generation in the aviation industry. By focusing on areas such as airport advertisements, ticketing systems, and waivers, the committee aims to identify and rectify inefficiencies and discrepancies that affect FAAN's revenue streams.

With a comprehensive examination of the advertisements within airports, the committee will assess the current strategies and propose innovative approaches to maximize revenue from this source. Furthermore, they will analyze the ticketing system, identifying potential improvements to enhance efficiency and increase revenue generation.

Another critical area of focus for the committee is the review of waivers on payment for FAAN services. By assessing the current waivers and determining their impact on revenue, the committee will offer recommendations for a fair and sustainable system that aligns with international aviation industry practices.

The committee's mandate signifies the government's commitment to optimize revenue generation within the aviation sector, specifically within FAAN. It is hoped that the committee's conclusive report will offer valuable insight and actionable recommendations that will contribute to the continuous growth and development of the Nigerian aviation industry.

Overall, the establishment of this committee demonstrates the government's dedication to driving progress and fostering a more robust revenue generation framework within the aviation industry. Through the collective efforts of the committee and the implementation of their recommendations, FAAN can anticipate a more equitable and prosperous future.

Source of content: OOO News 2023-09-01 News

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