By Comfort Olayinka
The Federal Airports Authority of Nigeria (FAAN) has proudly announced that it has contributed over N218 billion to the country’s Consolidated Revenue Fund (CRF) over the past five years.
Mrs. Olubunmi Kuku, the Managing Director of FAAN, made this disclosure during her presentation to the Senate Committee on Finance in Abuja on Wednesday.
FAAN’s financial contributions have shown remarkable growth, with the agency increasing its remittances year-on-year.
In 2020, the authority contributed N3.51 billion in Internally Generated Revenue (IGR), and in 2024, this figure surged to an impressive N112.82 billion—the highest annual remittance yet.
Over the five-year period, FAAN also remitted a total of N352.26 million as part of the 1% stamp duty.
Kuku attributed this remarkable growth to improvements in operational efficiency and enhanced revenue collection methods, promising continued contributions to Nigeria’s financial stability through strategic innovations and superior service delivery.
