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Aviation won’t survive without thriving airports, says Minister
The Minister of Aviation and Aerospace Development, Festus Keyamo has expressed concern over the country’s airport infrastructure, adding that for airports to be viable, they must have the infrastructure to support current and future demand.
He further stated that without thriving airports, there can be no thriving aviation industry, hinting that airport viability is not just a priority but a necessity for any ambitious aviation business.
To buttress the minister’s assertion, the Managing Director of the Federal Airport Authority of Nigeria (FAAN) recently said that only three airports out of the twenty-two airports in Nigeria managed by FAAN are profitable.
However, looking at all the indices of viability, it is probably Lagos Airport that is viable. To achieve viability, several critical factors must be addressed.
He listed airport infrastructure to not include runways and terminals but also integrated transportation systems that connect airports to surrounding areas.
The Minister noted that it is essential to prioritise infrastructure development that enhances capacity, reduces bottlenecks, and improves the overall passenger experience.
In his keynote address by the Permanent Secretary, Ministry of Aviation and Aerospace Development, Dr. Emmanuel Meribole who represented him at the 9th Airport Business Summit and Expo held in Lagos with the theme: “Airport Viability is Key to Successful Aviation Business Ambition”, the Minister said airports must be financially self-sufficient, with diverse revenue streams that can weather fluctuations in passenger traffic and external shocks.
This according to him includes maximising 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 towards 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.”
Governments alone he admitted cannot shoulder the burden of airport development and expansion, explaining that Public-Private partnerships (PPP) offer a viable solution to financing infrastructure projects and modernising airport facilities.
Successful PPPs according to him ensure that private investment is harnessed to improve services while allowing governments to focus on regulation and oversight.
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