Keyamo: Most Nigerian Airports Operate at a Loss

Festus Keyamo, the Minister of Aviation and Aerospace Development, has declared that most airports in Nigeria are not profitable. He explained that the federal government is utilizing revenue generated from profitable airports to subsidize several airports that operate at a loss.

Keyamo emphasized the necessity for private sector participation in managing some airports to improve efficiency, attract investment, and unlock their economic potential. He noted that while major airports generate substantial revenue, a significant portion of these proceeds is allocated to maintaining less profitable airports.

Keyamo pointed out that airport operations require considerable financial commitments, including personnel costs and power generation, and that the government lacks sufficient resources to maximize commercial opportunities at many airports. He mentioned the potential of non-aeronautical components of airports for revenue generation, which private investors could help develop.