Aviation Minister Festus Keyamo disclosed on July 7, 2025, that the Federal Government is running Nigeria’s 22 airports at a staggering financial loss, attributing the deficit to the lack of private sector involvement.
Addressing stakeholders at a forum in Lagos, Keyamo revealed that the airports, including Murtala Muhammed International and Nnamdi Azikiwe International, incurred a N50 billion loss in 2024, with operational costs outpacing revenue by 45% due to outdated infrastructure and low efficiency. He emphasized that without private investment, the sector’s $3.2 billion annual contribution to GDP is at risk, with passenger traffic stuck at 15 million annually against a potential 30 million.
Keyamo proposed a robust public-private partnership (PPP) framework, targeting $2.5 billion in investments by 2028 to overhaul terminals, runways, and air traffic control systems. He highlighted Lagos airport’s N12 billion maintenance backlog and Abuja’s aging facilities as critical pain points, inviting 60 private firms to submit bids by August 15.
The Nigerian Airspace Management Agency supports the initiative, noting a 22% flight delay rate in 2024, while 35% of airline operators caution against monopolies. The government plans a comprehensive policy document by July 20, amid economic pressures from 33% inflation, aiming to transform aviation into a profit center.