FAAN Generates N2 Billion From Below-The-Line Advertising
The Federal Airports Authority of Nigeria (FAAN) generated N2 billion From Below-The-Line advertising optimization in 2024, under its revenue maximization efforts.
FAAN’s Director of Commercial & Business Development, Mrs. Adebola Joy Agunbiade
who disclosed this in her presentation at the 2025 Directorate of Commercial & Business Development (DCBD) Stakeholders Engagement Forum held yesterday at Sheraton Hotels, Lagos, said tariff review and lease agreement restructuring are also part of FAAN’s revenue maximization efforts made so far.
She identified FAAN’s business trajectory three strategic pillars, as standardization and process re-engineering, blocking of revenue leakages and revenue maximization for non-aeronautical revenue activities, stating that FAAN’s revenue sources have been categorized into Bands A to D.
She said efforts being made to block revenue leakages are automation and digitalization, human capital development, monitoring and evaluation and that commercial payment solution features Operation Go-Cash solution. Revenue management involves charter flights registration and payment. Business planning and sustainability features land use management digitalization while facilitation involves boarding gates biometrics.
Agunbiade said 92% of FAAN’s revenue came from aeronautic sources while just 8% came from non-aeronautic sources, identifying critical concerns as currency volatility, economic pressures and inflation, infrastructure constraints, non-compliance with terms, delayed project execution and space utilization challenges.
She said FAAN expects from stakeholders, prompt payments and contract compliance, collaboration rather than competition, timely feedback through designated channels, customer service excellence and innovation.
The Managing Director/Chief Executive of FAAN, Mrs. Olabunmi Kuku said the Authority is committed to improved services.
