The Federal Airports Authority of Nigeria (FAAN) said it remitted N16.7 billion to the Federation Account last year. The agency also revealed that in order to reduce congestion at the Lagos airport’s domestic terminal, it had almost completed work on its expansion.
Speaking during a joint working visit of the Senate and House Committee on Aviation, led by Senator Smart Adeyemi and Nnolim Nnaji, respectively, at FAAN’s headquarters in Lagos, at the weekend, Managing Director of the agency, Captain Rabiu Yadudu, disclosed that FAAN proposed a revenue budget of N188 billion for 2022, an increase of 50.4 per cent, compared to 2021, which was N125.4 billion.
Yadudu said though FAAN had no operating surplus, in December 2021, it remitted N16.7 billion to the Federation Account as contribution to the Consolidated Revenue Fund, despite the effect of the COVID-19 pandemic during the period. He added that the agency had shifted its focus from the aeronautical sources of revenue to the…
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