The Minister of Aviation and Aerospace Development, Festus Keyamo, has emphasized that the viability of airports is essential for the success and growth of Nigeria’s aviation industry. Speaking at the 9th Airport Business Summit and Exhibition in Lagos, Keyamo highlighted that airports are the backbone of the aviation ecosystem, facilitating the movement of goods and people, and connecting cities, regions, and countries.
Keyamo, represented by the Permanent Secretary, Dr. Emmanuel Meribole, stated that only three out of the 22 airports managed by the Federal Airports Authority of Nigeria (FAAN) are profitable, with Murtala Muhammed Airport in Lagos being the most viable. He noted that ensuring airport viability is not just a priority but a necessity for any ambitious aviation business.
The summit, themed “Airport Viability is Key to Successful Aviation Business Ambition,” focused on the critical aspects needed for the sustainability and profitability of airports. Keyamo identified several key factors necessary for achieving airport viability, including sustainable financial models, public-private partnerships, infrastructural development, aviation human capital development, and eco-friendly practices and policies.
He stressed the importance of airports being financially self-sufficient, with diverse revenue streams to handle fluctuations in passenger traffic. This includes maximizing non-aeronautical revenue sources such as retail, real estate, and parking, as well as making smart investments in infrastructure that yield long-term returns.
Dr. Meribole further explained that operational efficiency is crucial for meeting growing demand while minimizing costs. Leveraging technology and innovation in areas such as passenger processing, air traffic control, and ground handling can significantly enhance efficiency and service delivery. This approach will help airports better handle future challenges and seize new opportunities.
Public-private partnerships (PPPs) were also highlighted as a vital element for financing infrastructure projects and modernizing airport facilities. Dr. Meribole pointed out that governments alone cannot bear the full burden of airport development and expansion. Successful PPPs, he noted, harness private investment to improve services while allowing governments to focus on regulation and oversight.
Keyamo also emphasized the need for collaboration across the aviation ecosystem to achieve airport viability. He called for coordinated efforts among governments, airport authorities, airlines, regulators, and private sector investors to align strategies and priorities. The Minister also pointed out the broader economic benefits of airport viability, noting that airports are vital drivers of national and regional economic development. By focusing on airport viability, Nigeria can unlock broader economic benefits, boost international competitiveness, and enhance connectivity.
In his closing remarks, Keyamo charged experts and delegates at the summit to develop actionable plans to enhance airport viability and propel Nigeria’s aviation sector toward greater prosperity, resilience, and excellence.
