Aviation business impossible without viable airports, says Keyamo

The Minister of Aviation and Aerospace Development, Festus Keyamo, has expressed concern over the country’s airport infrastructure, saying a successful aviation business is not possible without viable airports.

He further emphasised that airport viability is a priority and a necessity for any ambitious aviation business.

The minister said this on Wednesday at the 9th Airport Business Summit and Expo in Lagos with the theme: “Airport Viability is Key to Successful Aviation Business Ambition”.

The Managing Director of the Federal Airport Authority of Nigeria, Olubunmi Kuku, recently noted that only three airports out of the 22 airports in Nigeria managed by FAAN were profitable.

The FAAN boss stressed that considering the indices of viability, it is probably Lagos Airport that is viable. To achieve viability, several critical factors must be addressed.

At the event in Lagos, Keyamo said airport infrastructures were not only runways and terminals but include integrated transportation systems that connect airports to surrounding areas.

Keyamo, who was represented by the Permanent Secretary in the ministry,  Dr Emmanuel Meribole, said airports must be financially self-sufficient, with diverse revenue streams that can weather fluctuations in passenger traffic and external shocks.

He explained that to achieve financial sufficiency the actors must maximise 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 toward greater prosperity, resilience, and excellence.

“I want to charge all delegates and experts here 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.”