Nigerian Airports' Security Risks Increase Insurance Costs
The 5th CHINET Aviacargo Conference in Lagos revealed the financial burden faced due to the non-insurance of Nigerian airports, deviating from international practices. Nigerian airports are considered high-risk areas, leading to higher insurance premiums for airlines and airport users.
Recent incidents, including a man hanging on an aircraft wing at Lagos airport and villagers encroaching on runways, highlight the security challenges faced by Nigerian airports managed by the Federal Airports Authority of Nigeria (FAAN). The porous and insecure nature of these airports justifies the higher insurance costs borne by airlines, significantly exceeding the premiums paid in Europe and the US.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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