Faan Washes Hand Off $500m Aircraft Acquisition

The Federal Airports Authority of Nigeria (Faan) said it has not borrowed $500 million from China nor any country for that matter to finance the purchase aircraft for domestic airlines.

The agency said it is presently occupied in translating the transformational aviation master plan into concrete realities.

Faan was reacting to reports that it has borrowed from China to acquire aircraft.

Yakubu Datti, general manager, Corporate Communications, Faan, said that  “At present, the Authority is focused on the reconstruction of 22 airports across the country as initiated by the Minister of Aviation, Princess Stella Oduah. The Lagos terminal 1, popularly known as GAT has since been commissioned while the remaining airports are at different stages of completion. Work on the remaining 11 airports in the 2nd phase will soon begin”.

Dati added that the orientation of aviation employees is being vigorously pursued through capacity development, and Mr. George Uriesi, managing director, is spearheading this paradigm shift towards service delivery, accountability, and self-sustenance.

He however added that the Ministry of Aviation is making arrangements to facilitate the acquisition of 30 airplanes to boost the operations of domestic airlines.

It would be recalled that the federal government is mulling the purchase of airplanes through the aviation fund being managed by the Central Bank of Nigeria (CBN) and the Bank of Industry (BoI).