The Federal Airports Authority of Nigeria (FAAN) has reported that it remitted a total of N218.3 billion from its internally generated revenue (IGR) and N352.3 million in stamp duty payments to the consolidated revenue fund (CRF) between 2020 and 2024.
FAAN’s Managing Director, Olubunmi Kuku, shared these figures on Wednesday during a presentation to the Senate Committee on Finance in Abuja.
In her address, Kuku highlighted the authority’s efforts in managing Nigeria’s commercial airports while fulfilling its financial responsibilities. She provided a year-by-year breakdown of FAAN’s contributions, noting that, despite the economic setbacks caused by the COVID-19 pandemic, the agency achieved significant milestones.
The Managing Director acknowledged that the pandemic initially delayed FAAN’s ability to remit stamp duty payments, but assured the committee that the outstanding amounts were cleared in 2021. In 2020, FAAN remitted N3.5 billion from its IGR.
Kuku also emphasized the need for greater funding to modernize Nigeria’s airports and strengthen the country’s position as a leading aviation hub in West and Central Africa.
She assured the Senate Committee of FAAN’s commitment to financial discipline and continuous improvement of aviation infrastructure.
