The Federal Airports Authority of Nigeria, FAAN, Managing Director, Mr George Uriesi,  has disclosed  that the agency Internally Generated Revenue, IGR, will soon be enough to sustain the agency without waiting annually for Federal government subvention.

Mr Uriesi made this disclosure when the House of Representatives Committee on Aviation paid a visit to the agency during a facility tour of the Murtala Muhammed Airport , in Lagos . The committee members were also at the airport to assess the 2012 budget performances of the various government agencies under the Ministry of Aviation.

He further said that the newly commissioned General Aviation Terminal (GAT) has already made over N100 million even while operating on less than full capacity. It will be recalled that the terminal was commissioned last October 2012. He added that the agency is currently implementing 73 projects and on completion of the projects, the IGR that would be realised would be enough to run its operations.

For non aeronautical services, Mr Uriesi  said that FAAN projected 14.2b in 2012 but generated 5.7bn and collected N5.1 due to the on-going remodeling at the various airports stating further that,” we collected less aeronautical largely owed to the ongoing remodelling that is why we performed at 38% of the budget but once we are done, it would quadruple at what we had before we shut them down.”

He said that FAAN had projected N30.4bn in 2012 for aeronautical services but could only generate N29.8b and collected N21.3b and was not able to get N8.9.