The Federal Airports Authority of Nigeria (FAAN) is rolling out an ambitious commercial reform plan aimed at repositioning its business landscape, optimizing non-aeronautical revenue, and transforming Nigerian airports into smart commercial hubs.
At a recent stakeholders engagement forum themed “Strengthening Partnerships for Sustainable Growth and Development,” FAAN’s Director of Commercial and Business Development, Miss Adebola Agunbiade, outlined key initiatives that will drive this transformation.
These include digital innovation, lease restructuring, sustainable transport solutions, and enhanced revenue tracking systems.
Agunbiade revealed that over 92% of FAAN’s current revenue still comes from aeronautical sources, a figure the Authority is determined to diversify. “A well-diversified income base is non-negotiable,” she emphasized.
Among the notable initiatives is a plan to deploy 4-tier business bands (A–D) that categorize airport businesses based on size, type, and revenue potential, with Band A housing high-value operators and Band D covering smaller ventures like bookstores.
To improve transparency and operational ease, FAAN is also launching a new digital platform to automate retail and land asset applications, provide real-time revenue tracking, and replace physical invoicing with cashless digital payment channels—including cards, USSD, and payment links.
She also announced a Smart Hub car hire service exclusively for electric and hybrid vehicle operators, while traditional transport services are being redesigned to meet premium standards.
FAAN’s strategy includes targeting Detty December traffic with seasonal products to tap into the festive travel boom, restructuring dormant lease agreements, and expanding below-the-line advertising through lampposts, lounges, car parks, and avio-bridges.
“Many of our lease rates are outdated,” Agunbiade said, adding that a tariff review is underway to ensure fairness and financial sustainability.
She stressed that enforcement would be key: “Without compliance, even the best policies will not deliver results,” she warned, noting the activation of monitoring units to enforce lease terms, signage uniformity, and business standards.
The Director also reaffirmed FAAN’s commitment to staff welfare and training, stating, “Innovation without empowered staff will not work.”
FAAN is calling on its 500+ Lagos-based and 300+ Abuja-based concessionaires to collaborate in this new era of growth. “If we work together, we all win. We make money together,” she concluded.
