Business
Nigeria Records 11% Airline Passenger Growth
The Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mr. George Uriesi, has said that at 11 per cent airline passenger growth, Nigeria was one of the few countries experiencing double digit growth rate in the world.
Uriesi told newsmen that between January and June 2013, the number of airline passengers in Nigeria was estimated at eight million.
He said the industry was on a five-year consecutive double digit growth track, but it derailed in 2012 because of the accident recorded by Dana Airline.
“The figure for the first half of the year – January to June – is about eight million passengers; it’s represents almost 11 per cent growth.
‘‘We have had consecutive double digit growth for four years and we were on track to get consecutive double-digit growth for five years last year if not for the crash of Dana Airline aircraft – the unfortunate accident after which a lot of airlines went out of the market for a while.
“So there was a big lull in the second half of last year which then, for the first time in a five-year cycle we dipped below double-digit growth.
“And this year again we are racing very fast to achieve double-digit growth even on the year before because the airlines are back, the airplanes are full, so it’s an indication of a very strong underlying economy. One of the indices is the growth of airline passengers.
“The trajectory was unfortunately diminished between July and December because so many airlines went out, so it wasn’t a real indication of the potential of the industry but as of January this year the industry is back and is climbing very nicely.
“We are on track to do about 16 million passengers this year and if we do 16 million passengers that will be going towards 16 per cent to 18 per cent growth.’’
Uriesi told newsmen that the double digit growth was attributable to the major remodeling works going on in several airports in the country.
He added that many airlines were also increasing their fleets and that it was an indication that the investments made in the aviation sector was beginning to yield results.
He said that that the newly remodeled Akanu Ibiam Airport in Enugu attained international status on Saturday when it recorded a flight of 153 passengers to Ethiopia.
The Ethiopian Airlines, he said, would operate in and out of that airports four times a week.
“If we hadn’t remodeled that terminal we would not be able to do this there because we created the facility for international traffic in that terminal so the same thing will be replicated elsewhere.’’
Uriesi said if the decision to remodel the airports had not been made, the industry would have been stifled and the progress so far made would have been impossible.
“We’re experiencing very strong growth this year, so we are rushing to create the capacity for this growth not only in the international airports but all the airports that we are remodeling.
“I dread to think if we had continued to stay where we were two years back, we would stifle the growth of the industry.
“Aminu Kano International Airport, Kano, now has the capacity for any international airline that wants to come and we are actively working in the background trying to encourage a number of airlines.
“Those that had stopped coming there and those who might want to come there; we are trying to encourage them to start flying into Kano also.
“So there’s a linkage between the growth, infrastructure and the impact on the country,’’ Uriesi said.
The Minister of State for Industry, Trade and Investment, John Enoh said this at the 8th annual induction and conference of the Chartered Institute of Project Managers of Nigeria (CIPMN).
He explained that abandoned projects continue to lock up public funds that could have been used for infrastructure development, industrial growth, job creation and essential social services.
Represented by the ministry’s Permanent Secretary, Chris Osa Isokpunwu, he said the impact goes beyond financial losses, as incomplete projects affect communities and limit access to important public services
He cited examples of that remain unopened, schools that cannot accommodate students, roads that fail to connect communities and electricity projects that have not delivered their intended benefits.
The Registrar-General and Chief Executive Officer of CIPMN, Henry Ifeanyi Mbadiwe, also identified poor project management as a major challenge affecting development in Nigeria.
He revealed that the institute had developed a project management curriculum for Nigerian universities, which has received approval from the National Universities Commission (NUC). The programme is expected to enable universities to offer project management as a bachelor’s degree.
Mbadiwe further referenced findings by the Presidential Projects Assessment Committee, which identified 11,886 ongoing federal capital projects in 2011, with an estimated financial commitment of ?7.78 trillion.
He noted that inadequate planning, supervision, accountability and implementation were among the factors contributing to the abandonment of projects across the country.
The minister called for stronger project management structures across ministries, departments and agencies to improve planning, monitoring and evaluation.
He added that the Federal Ministry of Industry, Trade and Investment had introduced a 90-day implementation reporting cycle to strengthen transparency and monitor the progress of government programmes.
Ikenga said the company remained committed to Nigeria’s power sector and would continue investing in its operations despite the challenging business environment.
He spoke in Lagos at the third edition of the Shell Power Conference, themed “Powering Nigeria’s Progress: Turning Ambition and Action into Sustainable Impact”.
The Transcorp Power chief said the company would sustain electricity generation, invest in its facilities and deliver value to shareholders.
“Transcorp Power is a long-term player, not a short-term player. This year has been challenging, but what is important is getting power to schools, hospitals and businesses to power progress,” he said.
Ikenga said the company’s focus on operational efficiency and investment had strengthened its contribution to Nigeria’s electricity supply.
He disclosed that since acquiring the Ughelli Power Plant in Delta State in 2013, Transcorp Power had quadrupled its available generation capacity.
He also said the company became the first privatised power generation firm to receive a post-privatisation discharge certificate after fulfilling all its privatisation obligations.
The company’s unaudited results for the nine months ended September 30, 2026, showed a profit before tax of N83.1 billion, while its profit-before-tax margin rose to 31.2 per cent from 29.6 per cent recorded in the corresponding period of 2025.
Its total assets rose to 11.7 per cent amounting to N629.5 billion, while shareholders’ funds grew 8.9 per cent to N199.8 billion. Cash and cash equivalents also rose to N10.3 billion, supported by improved collections.
On the company’s contribution to grid stability, Ikenga said Transcorp Power’s black-start capability enabled it to restart operations without relying on electricity from the national grid.
He explained that the capability allowed the company to support power restoration following grid disturbances, helping to restore electricity supply to homes, businesses and industries.
Ikenga noted that Nigeria had an installed electricity generation capacity of about 13,000 megawatts, with an estimated potential of 50 gigawatts, adding that realising the potential would require effective coordination across the entire value chain.
“Everything in the value chain has to work,” he said.
He called for stronger collaboration among federal and state governments, regulators and private-sector operators, alongside increased private investment, to build a sustainable electricity market.
This was contained in a statement issued on Thursday by his Senior Special Assistant on Communications and Press Secretary, Maryann Duke.
The statement said Oyedele pointed to “improved digital systems, including electronic invoicing, as a key driver behind a record of N33tn in government revenue collected between January and October 2026.”
The minister said the performance demonstrated the potential of technology to improve revenue administration, strengthen compliance and increase efficiency across government institutions.
Speaking on the theme, ‘Digital Sovereignty and Ethics: Guarding the Economy for the Next Generation,’ Oyedele warned that Nigeria risked losing substantial economic opportunities if it continued to depend heavily on foreign digital infrastructure.
Citing Nigerian Communications Commission figures, he disclosed that the country recorded more than 157 million active internet subscriptions as of May 2026.
He explained that these connections generated significant volumes of information through financial transactions, healthcare, education and taxation.
However, citing estimates from the Nigeria Data Protection Commission, Oyedele said as much as 90 per cent of the country’s data was hosted abroad.
According to him, the situation has implications for foreign exchange expenditure, employment opportunities, technological skills and Nigeria’s control over information generated by its citizens.
He compared the country’s reliance on foreign digital infrastructure with its historical dependence on imported refined petroleum products, warning against a situation where Nigerian data would be processed abroad and the resulting services sold back to domestic users.
The minister consequently advocated greater investment in local data infrastructure, technical expertise, cybersecurity and predictable regulations to enable Nigerian businesses to capture more value from the digital economy.
He clarified that digital sovereignty should not translate into technological isolation but should strengthen Nigeria’s capacity to participate competitively in international markets.
Addressing graduating students, Oyedele urged young Nigerians to become developers of technological solutions rather than remain primarily consumers of products created elsewhere.
He identified artificial intelligence as both a disruptive force and an opportunity for innovation, advising graduates to acquire relevant digital skills alongside critical thinking, creativity, sound judgement and integrity.
The minister also cautioned against irresponsible online behaviour, explaining that digital footprints increasingly influence employment prospects, commercial relationships and professional credibility.
Oyedele outlined five priorities for graduates, including continuous learning, value creation, integrity, responsible digital citizenship and active participation in national development.
“Your degree is evidence of what you have learned. Your competence will demonstrate what you can do. Your character will reveal who you truly are,” he told the graduating students.
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