Business
Nigeria’s Airports Record Increase In Domestic Passengers -NBS
The National Bureau of
Statistics (NBS) has disclosed that Nigeria’s airports recorded an increase of 2.3 per cent in domestic passengers in 2015 and 2016.
The NBS made this figure known in its Fourth Quarter 2016 and Full Year 2016 Air Transportation Data released in Abuja.
The report, however, stated that the first and second halves of the year differed substantially.
It stated that it differed substantially whereas year-on-year growth in domestic passenger, numbers of 9.7 per cent and 10.3 per cent were recorded in the first two quarters respectively.
“Declines of 1.3 per cent and 8.2 per cent were recorded in the third and fourth quarters respectively.
“The declines were due to their size, most of this decline was accounted for by Abuja, Lagos and Port Harcourt, and in both quarters, Abuja accounted for the largest fall.
“Murtala Muhammed Airport (MMA) in Lagos remained the busiest domestic airport in the third and final quarters of 2016.
“This airport accounted for 891,770 passengers in the third quarter and 909,851 passengers in the final quarter, which represented 33.3 per cent and 34.5 per cent respectively.”
According to the report, the share of domestic passengers accounted for by MMA remained broadly stable throughout 2016.
“It remained stable in the year with the highest share recorded in the first quarter of 34.6 per cent, and the lowest recorded in the third quarter.
“As with the overall number of domestic passengers, the number to travel though MMA declined relative to the corresponding values in 2015.
“In the third quarter, MMA airport recorded a year-on-year decline of 7.3 per cent, compared to an overall decline in domestic passenger numbers of 1.3 per cent (when comparing same set of airports.
“In the fourth, this fell slightly to a decline of 7.5 per cent, although this was a smaller contraction than in the overall fall of 8.2per cent.”
Similarly, it stated that the share of passengers accounted for by Abuja Airport, the second busiest airport in 2016, remained between 30 per cent and 31 per cent in each quarter of 2016.
According to the report, the third and fourth quarters, there were 822,702 and 810,410 domestic passengers to travel through Abuja respectively.
“In each quarter this was equivalent to 30.7 per cent of the total number, which is higher than the shares in the first and second quarter of 30.4 per cent and 30.2 per cent.
“Abuja was the airport to record the largest year on year reduction in domestic passengers in absolute terms in each of the third and fourth quarters.”
In the third quarter of 2016, the report stated noted that there were 81,270 less domestic passengers to travel through than in the same quarter of 2015, a reduction of 9.0 per cent.
It stated that in the fourth quarter, the year on year drop fell to 110,005, equivalent to a 12.0 per cent fall.
“The third busiest domestic airport in 2016 was Port Harcourt, although the number of passengers fell throughout the year.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.