FAAN Unfolds Work On Investor Confidence Building
The Managing Director and Chief Executive of Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku has highlighted the activities of his agency towards building the confidence of potential investors in Nigeria’s aviation industry.
Speaking via zoom link at the two-day Nigerian Aircraft Acquisition & Investment Summit (NAAIS) that started in Lagos yesterday, Kuku identified areas of priority as confidence building such as infrastructure reliability and capacity where she said FAAN is “working to ensure that runways, taxiways, aprons and terminal facilities at our key airports support the operations of modern fleets and increased traffic. Planned and ongoing upgrades are being executed with an eye on efficiency, safety and international best practices.”
On process efficiency and ease of doing business, FAAN understands that “time is money, and complexity is a cost. We are simplifying processes, strengthening coordination among agencies at the airports, and deploying more technology to reduce bottlenecks and improve turnaround times.”
On transparent and predictable charges environment, “we are committed to charges and fees that are transparent, predictable and justifiable, while ensuring that safety and service standards are not compromised. The goal is a framework where both the authority and the airlines can plan with clarity.”
As regards safety, security and compliance as the backbone of investor confidence in aviation, “we are continually tightening our systems, enhancing staff capacity, and investing in modern equipment to meet and exceed international standards. A safe system is a bankable system.”
Regarding partnership with financiers and DFIs, FAAN welcomes “stronger collaboration with local and international banks, leasing companies, export credit agencies and development finance institutions. Our doors are open to structure innovative solutions that align infrastructure development with fleet expansion by operators.”
Kuku stated that “Nigeria’s aviation market is fundamentally strong. Demand for air travel and air cargo is real, resilient and rising. Government and agencies are committed to reforms and partnerships that make this sector more investable – from infrastructure upgrades to process efficiency and improved governance. This is the right time to position for the next phase of growth in Nigerian aviation – whether as an operator, a financier, a lessor, or an infrastructure investor.”
