The Federal Airports Authority of Nigeria (FAAN) has announced an impressive financial performance, reporting over N218 billion in Internally Generated Revenue (IGR) remitted to the nation’s Consolidated Revenue Fund (CRF) over the last five years. This disclosure was made by FAAN’s Managing Director, Mrs. Olubunmi Kuku, during her presentation to the Senate Committee on Finance in Abuja.
Mrs. Kuku provided a detailed breakdown of FAAN’s contributions across the years, starting with 2020. That year, the authority remitted N3.5 billion as IGR contributions. In 2021, this amount increased significantly to N17.18 billion, alongside an additional N17.8 million from 1% stamp duty.
She said: “in the year 2022 the authority remitted a total of N30,530,347,715.73 as contribution from the Internally Generated Revenue and a cumulative sum of N27,135,935.34 as remittance on 1 per cent stamp duty to the CRF account.
“In the year 2023, the authority remitted a total of N54,297,487,089.01 as contribution from the IGR and a cumulative sum of N25,426,776.07 as remittance on 1% stamp duty to the CRF.
“In the year 2024 the authority remitted a total of N112,821,836,050.84 as contribution from the Internally Generated Revenue (IGR) and a cumulative sum of N281,881,317.34 as remittance on 1% stamp duty to the CRF.
“Cumulatively, for the period of 2020 – 2024, the authority remitted a total of N218,335,247,877.87 as contribution from the IGR and a total sum of N352,263,212.34 as remittance on 1 per cent stamp duty to the CRF.”
