The Minister of Aviation and Aerospace Development, Festus Keyamo, has expressed concern over the country’s airport infrastructure, saying a successful aviation business is not possible without viable airports.
He further emphasised that airport viability is not just a priority but a necessity for any ambitious aviation business.
The minister said this at the 9th Airport Business Summit and Expo held on Wedneaday in Lagos with the theme: “Airport Viability is Key to Successful Aviation Business Ambition.”
The Managing Director of the Federal Airport Authority of Nigeria, Olubunmi Kuku, had recently noted that only three airports out of the 22 airports in Nigeria managed by FAAN are profitable.
The FAAN boss stressed that considering the indices of viability, it is probably Lagos Airport that is viable. To achieve viability, several critical factors must be addressed.
The minister, however, listed airport infrastructure to include runways and terminals and also integrated transportation systems that connect airports to surrounding areas.
In his keynote address, the minister, who was represented by the Permanent Secretary in the ministry, Dr. Emmanuel Meribole, added that the airports must be financially self-sufficient, with diverse revenue streams that can weather fluctuations in passenger traffic and external shocks.
Meribole explained that to achieve financial sufficiency, actors must maximise 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 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 toward greater prosperity, resilience, and excellence.
“I want to charge all delegates and experts here present to work towards coming up with actionable plans that will usher Nigeria into the next phase of its aviation growth. Without strong, efficient, and sustainable airports, the aviation industry will struggle to reach its full potential.
“But with strategic investments, innovative approaches, and collaborative efforts, we can ensure that airports continue to be dynamic engines of growth and opportunity for the entire aviation ecosystem.”