The Chairman of the Airport Business Summit, Mr. Fortune Idu, says Nigeria’s airports must be managed as viable business enterprises capable of generating sustainable revenue beyond aircraft operations.
Speaking on the vision behind the annual Airport Business Summit and Expo in Lagos, he said airports remain the centre of all aviation activities, making it necessary to develop both aeronautical and non-aeronautical revenue streams to ensure long-term financial sustainability.
Mr. Idu explained that while airlines largely depend on passenger and cargo traffic for income, airports have broader opportunities in commercial development, including real estate, hospitality, retail, conference facilities, entertainment and ground transportation. According to him, this business model aligns with the global Aerotropolis concept, where airports serve as economic growth centres.
The ABSE Chairman noted that the summit, which has been held for more than a decade, has evolved from a small gathering of aviation stakeholders into a major platform for promoting airport business development, attracting investment and encouraging stronger collaboration across the aviation value chain.
According to him, the summit has consistently advocated airport concession, infrastructure investment and stronger partnerships between airports, airlines, tourism operators, hotels and other service providers to improve the industry’s contribution to national economic development.
He said one of the summit’s major achievements is changing the mindset of airport managers, who are increasingly viewing airports not only as operational facilities but also as business assets capable of creating employment and generating revenue for host communities.
To deepen investment opportunities, Idu said the summit introduced the Airport Managers Business Pitch, which provides airport managers with a platform to present investment opportunities within their airports directly to potential investors.
He added that the initiative has generated growing interest among airport managers, particularly within the Federal Airports Authority of Nigeria (FAAN), and has encouraged healthy competition in showcasing commercially viable airport projects.
On industry collaboration, Idu stressed that seamless passenger experience depends on effective coordination among airlines, airport operators, ground handling companies, hotels, transport providers and government agencies, noting that such cooperation is in line with the International Civil Aviation Organization’s facilitation standards.
Commenting on investor confidence, he commended the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, for promoting Nigeria as an investment destination and strengthening compliance with international agreements and conventions.
According to him, the efforts have helped improve confidence in the country’s aviation sector and create a more favourable environment for investors.
Reporting By Nosa Aituamen