Reps Target $7 Billion Recovery from Foreign Airlines

The House of Representatives has commenced actions to recover $7 billion allegedly owed to the federal account by foreign airlines operating in Nigeria. Abiodun Faleke, the chairman of the House Committee on Finance, disclosed this on Tuesday in Abuja during the launch of a revenue monitoring exercise for the period 2023-2025.

The Federal Airport Authority of Nigeria (FAAN) reported that airlines owe N25.86 billion, with only N8.08 billion recovered, leaving an outstanding balance of N17.78 billion. Faleke expressed dissatisfaction with the explanations provided by FAAN's Managing Director, Olubunmi Kuku, particularly regarding the rising public debt and the need for a comprehensive statement on the debts owed by airlines.

The committee aims to improve revenue remittances to the federal account and reduce reliance on borrowing amidst fiscal pressures. The oversight comes as the government seeks to plug revenue leakages and strengthen public finances without resorting to excessive debt.