FAAN To Terminate Non-Performing Advert Concession Agreements
The Managing Director/CE of the Federal Airports Authority of Nigeria (FAAN), Capt. Rabiu H. Yadudu says the Authority intends to terminate non-performing concession agreements as part of its shift of focus from aeronautical sources of revenue to the non-aeronautical sources.
Addressing the members of Senate and House of Representatives’ joint Committee on Aviation during their oversight visit to FAAN’s Headquarters annex in Lagos, Yadudu said: “On advertisement, the Authority is taking steps to terminate the non-performing concession agreements and engage new concessionaires. We hope to make significant progress before the end of 2nd quarter. Car parks Automation at the various Airports is presently ongoing, before the end of the year we should have achieved a great result.
On the Private Airport Terminals, stiff sanctions are going to be applied for non-payment for various services rendered by FAAN.”
He further said that metering of all stakeholders and Concessionaires as well other facilities within the airport would be completed before end of 1st quarter, 2022.
“The Authority has shifted its focus from the aeronautical sources of revenue to the non-aeronautical so as to further improve the revenue performance. Aggressive sensitization is going on with respect to areas at the airports where investors can come in. Specific areas where effort is being focused on include: Advertisement, car parks, Private Airport Terminal operators and Bi-Courtney (BOT) revenue sources,” he said.