The Federal Airports Authority of Nigeria (FAAN) has demonstrated significant commitment to national economic growth by remitting a cumulative total of N218.3 billion as Internally Generated Revenue (IGR) contributions and N352.2 million as 1% stamp duty payments into the Consolidated Revenue Fund (CRF) from 2020 to 2024.
This was disclosed by FAAN’s Managing Director/Chief Executive, Mrs. Olubunmi Kuku, during her presentation to the Senate Committee on Finance.
Despite challenges such as the COVID-19 pandemic, FAAN’s consistent compliance with remittance obligations highlights its dedication to transparency and accountability in managing Nigeria’s commercial airports.
Yearly Breakdown of Remittances:
2020: N3.5 billion (IGR)
2021: N17.2 billion (IGR) and N17.8 million (stamp duty)
2022: N30.5 billion (IGR) and N27.1 million (stamp duty)
2023: N54.3 billion (IGR) and N25.4 million (stamp duty)
2024: N112.8 billion (IGR) and N281.8 million (stamp duty)
Mrs. Kuku highlighted FAAN’s resolve to meet global standards in aviation operations, noting that infrastructure funding remains critical to transforming Nigeria into a regional aviation hub for West and Central Africa.
She urged continued support to ensure modern, world-class facilities for safe, secure, and efficient air transport.
FAAN remains steadfast in its mission to enhance the aviation sector while contributing meaningfully to the nation’s revenue.
