The Federal Airports Authority of Nigeria (FAAN) is wooing investors to its proposed aviation city in Abuja, which will sit on an estimated 12,000 hectares of land around the Nnamdi Azikiwe International Airport, Abuja.
Some of the investment opportunities that exist in the aviation city include maintenance, repair and overhaul (MRO), hotels, aerotropolis, shopping malls and other facilities to be located within the city.
Mr Sadiku Rafindadi, the Director, Commercial and Business Development of FAAN who spoke about the investment opportunities at the ongoing FAAN National Aviation Conference in Abuja, said FAAN is ready for business and it is willing to engage investors with bankable projects on how they can invest in the opportunities FAAN is offering.
“The investment opportunities that we have in FAAN are enormous, especially in terms of land. We have land for MROs, for hotels, land for warehousing and even farming, as long as the farming does not attract birds that would cause airplanes to have accidents,” Mr Rafindadi said.
He said the new investment drive is to maximise the potential in the Nigerian aviation industry and make the 43 airports and airstrips profitable.
He said Nigeria’s passenger traffic is growing. “In 2020, the domestic and international passenger traffic stood at 9,358,186 as against 15,886,955 in 2021, representing a difference of 41%.
“Analysts have forecasted that Nigeria’s passenger traffic will exceed that of the global aviation sector, as such, aviation remains pivotal to the socio-economic growth of Nigeria.
“Nigeria’s passenger traffic is expected to grow at 7% over the next 10 years, while the global industry remains at 5.3%,” he noted.
He noted that “a recent aviation sector study for Nigeria by the International Air Transportation Association (lIATA) in June 2020 showcased the significant contribution of aviation to the national economy, by providing 241,000 jobs, directly and indirectly, supported through the aviation sector’s supply chain to the tune of $1.7 billion to the national economy.”
He said FAAN’s key initiative in promoting investment at the airports is partnering with the state governments and private sector to focus on safety and security, infrastructural development, growing domestic airlines through new route development and the designation of airports for improved performance and revenue creation.