The Federal Airports Authority of Nigeria (FAAN) has projected a 50 percenot increase in revenue following the launch of its cashless payment initiative, “Operation Go-Cashless,” at the Lagos and Abuja airports in partnership with digital payment giant Paystack.
With the projections that the initiative will significantly increase revenue collection and block leakages across the nation’s airports, FAAN has vowed to see the initiative through.
The Director of Commercial and Business Development at FAAN, Ms. Joy Agunbiade, said at the official launch in Lagos that the initiative, which took off at the Murtala Muhammed International Airport and Nnamdi Azikiwe International Airport, Abuja, represents a turning point in how the authority manages its financial operations.
According to her, the deployment of contactless payment systems at access gates, car parks, and VIP lounges eliminates manual cash handling, thereby sealing revenue leakages and ensuring full accountability.
“We project a 50 percent increase in revenue collection at this pilot stage, rising to 75 percent as more revenue points are integrated, with the ultimate goal of tripling revenue within the first year of full implementation”.
She stressed that the new payment structure is designed not only to drive financial transparency but also to enhance efficiency and user convenience.
Each transaction is instantly validated through a closed-loop Paystack system that guarantees speed and reliability even under high traffic volumes.
Ms. Agunbiade explained that the gains from increased revenue collection will be reinvested into airport infrastructure, further modernizing Nigeria’s gateways and aligning them with global standards.
She added that with over 300,000 vehicular entrances recorded monthly at the Lagos and Abuja airport access gates alone, the scope for improved earnings is substantial.
The cashless policy is expected to be fully rolled out across all FAAN-operated airports by the first quarter of 2026, with plans to extend the system beyond access gates into lounges, car hire services, and other revenue-generating facilities.
The Business Development Director, commended FAAN’s Managing Director, Mrs. Olubunmi Kuku, for her leadership in driving the project and called on stakeholders and airport users to embrace the new system, describing it as a milestone in accountability, transparency, and service delivery in Nigerian aviation.
Highlight of the launch was a stint demonstration at the access toll gate of the MMA airport, Ikeja, Lagos.
Reporting By Nosa Aituamen