The Federal Airports Authority of Nigeria(FAAN),cumulatively, for the period of 2020 to 2024, the  remitted a total of N218,335,247,877.87 as contribution from the Internally Generated Revenue (IGR) and a total sum of N352,263,212.34 as remittance on 1% stamp duty to the Consolidated Revenue Funds Account (CRF)

Managing Director of the Authority,Mrs.Olubunmi Kuku reeled out the figures while briefing members of the Senate Committee on Finance.

According to her, it is pertinent to state that FAAN is committed to complying with all extant rules as relates with remittances to the Federation Account while striving to develop and profitably manage the airports facilities for safe, secure and efficient carriage of passengers and goods at world-class standards of quality, in line with our mandate.

She reiterated that, Airport Business is global, technical, highly regulated with huge infrastructure requirement.

Nigeria,Mrs.Kuku stated,” is expected to be a hub in West Africa/Central Africa Sub-Region, this expectation can only be met with more funding to ensure provision of modern and up to date infrastructure and technology, this we believe can be achieved with your support.”

In the year 2020 the Authority remitted a total of N3,509,961,850.66 as contribution from the Internally Generated Revenue (IGR).

“It is noteworthy to mention that within the year 2020 and the early part of the year 2021, the Authority had major challenges with making remittances on stamp duty owing to the effect of the COVID-19 Pandemic. Nonetheless, the Authority took steps to off-set the outstanding remittances on stamp duty for 2020 in the year 2021.”

“In the year 2021 the Authority remitted a total of N17,175,615,171.63 as contribution from the Internally Generated Revenue (IGR) and a cumulative sum of N17,819,183.59 as remittance on 1% stamp duty to the Consolidated Revenue Funds Account (CRF)”