FG seeks diversification of airport revenue generation

The Federal Government, through the Ministry of Aviation and Aerospace Development, has called for private sector collaboration to diversify airport revenue generation.

The Minister of Aviation, Mr Festus Keyamo, SAN, made the call at the 9th Airport Business Summit and Expo, on Wednesday in Lagos.

It was reported that the three-day summit, the 9th in its series, has as its theme: “Airport Viability is Key to Successful Aviation Business Ambition”.

Keyamo, who was represented by a Permanent Secretary at the Ministry, Dr Emmanuel Meribole, said that to achieve a viable airport, factors such as sustainable financial models, operational efficiency and innovation should be addressed.

The minister added that infrastructure development; public-private partnerships (PPPs); passenger experience and customer satisfaction; and creating a collaborative aviation ecosystem should be looked into.

According to him, creating a collaborative aviation ecosystem across all players is essential to achieving airport viability.

Keyamo noted that beyond their role in supporting aviation businesses, airports were vital drivers of national and regional economic development.

“Airports generate jobs, attract foreign investment, and contribute to tourism, trade, and business activities.

“For countries and regions looking to accelerate their economic growth, airports are key assets that must be nurtured and developed.

“By focusing on airport viability, we can unlock broader economic benefits, boost international competitiveness, and enhance connectivity in ways that go beyond the aviation industry.

“In this sense, airport viability is not just an aviation issue; it is a national economic imperative,” he said.

The minister said that governments, airport authorities, airlines, regulators, and private sector investors must work together to align strategies and priorities.

He said that the role of the government was to create an enabling environment that would encourage innovation, competition and investment in the sector.

“This includes adopting policies that incentivise infrastructure development, streamlining regulatory processes, and ensuring airports have access to the financing and resources they need to thrive,” Keyamo said.

He said that only one airport in Nigeria was viable, contrary to the belief that three airports were.

“Airports are the heart beat of the aviation ecosystem. They serve as hubs of economic activity, connecting cities, regions and countries, while facilitating the movement of goods and people around the world.

“The success of airlines and other aviation businesses is inextricably linked to the strength and viability of the airports they rely on.

“Without thriving airports, there can be no thriving aviation industry. Airport viability, therefore, is not just a priority, it is a necessity for any ambitious aviation business,” the minister stressed.