• About Us
  • Contact
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Editorial Charter
  • Corrections Policy
  • Sitemap
Freelanews
Advertisement
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
Freelanews
No Result
View All Result
Home Economy

Reps move to recover $7bn airline debt to federation

Quadri Olaitan by Quadri Olaitan
March 3, 2026
in Economy
0 0
0
South Africa
thenacre-campaign

House of Representatives begins $7bn airline debt recovery drive, probing unpaid foreign airline charges owed to Nigeria’s Federation Account

The House of Representatives of Nigeria has commenced steps to recover more than $7bn allegedly owed to the Federation Account by foreign airlines operating in the country, signalling a renewed push for fiscal accountability within the aviation sector.

Also read: IATA warns blocked airline funds threaten global connectivity

Chairman of the House Committee on Finance, Abiodun Faleke, disclosed the development on Tuesday during the flag-off of the review of the 2023 to 2025 revenue monitoring exercise of the Federal Airports Authority of Nigeria in Abuja.

Faleke, who represents Ikeja Federal Constituency in Lagos State, expressed deep concern over mounting indebtedness by both foreign and domestic airline operators following submissions by FAAN Managing Director, Mrs Olubunmi Kuku.

According to Kuku, airline operators owed FAAN N25.86bn in 2023, out of which only N8.08bn, representing 31.25 per cent, was recovered, leaving an outstanding balance of N17.78bn. She did not provide updated recovery figures for 2025.

Perfect-Aesthetic-social-1

Documents presented to lawmakers further revealed that FAAN generated N191.43bn out of an approved revenue target of N292.93bn within the review period, reflecting a performance level of 65.35 per cent and a shortfall of N101.5bn.

Kuku explained that the liabilities involved both active and moribund carriers, adding that some payments from foreign airlines are processed through the International Air Transport Association, a system she said contributes to delays in remittances.

Lawmakers, however, voiced dissatisfaction with the explanations, particularly amid Nigeria’s rising debt profile and continued reliance on foreign borrowing to finance national budgets.

Faleke stated that records available to the committee indicated that over $7bn remained unpaid by international carriers when President Bola Ahmed Tinubu assumed office.

“We want a full record of all your debts in 2023, 2024, and 2025. When the call is made, those who are owing, we want to know them,” Faleke said, stressing that accurate passenger and flight data would be critical to verifying outstanding obligations.

The committee subsequently directed FAAN management to reappear with comprehensive documentation detailing airline indebtedness, including manifests showing flights and passenger volumes recorded during the period under review.

Odun Ifa 2026
ADVERTISEMENT

Airlines operating in Nigeria are required to remit statutory charges such as landing and parking fees, passenger service charges, terminal navigation fees and other regulatory levies through FAAN and related aviation agencies.

adron lemon friday

Concerns over delayed remittances have persisted for years, with several defunct domestic carriers reportedly leaving behind significant unpaid liabilities, while foreign airlines’ payments often pass through international clearing frameworks.

The $7bn Airline Debt Recovery initiative forms part of a broader revenue monitoring exercise recently intensified by the House Committee on Finance to plug leakages, boost government earnings and reduce dependence on borrowing.

Also read: Turkish Airlines secures positive three year golf deal

Lawmakers maintained that recovering outstanding aviation revenues remains a decisive step towards strengthening public finances and supporting infrastructure development without worsening the nation’s debt burden.

Quadri Olaitan
Quadri Olaitan

Quadri Olaitan is a journalist and contributor to Freelanews.com, covering news, public affairs, and human-interest stories.

Related Posts

Tinubu
Economy

Jubril Adewale Tinubu: Nigeria’s Most Consequential Energy Guru Isn’t Done Yet!

by Victory Emmanuel
June 5, 2026
African leaders at G20 South Africa 2025 summit shaking hands in front of floral backdrop.
Economy

Critical minerals appeal gains urgent global support

by Quadri Olaitan
November 23, 2025
Nigeria IMF Loan Repaid
Economy

Nigeria completes repayment of $3.4bn IMF COVID-19 loan principal

by Quadri Olaitan
May 8, 2025
Emmanuel Ibe Kachikwu
Economy

Emmanuel Ibe Kachikwu urges bold $1bn NCI fund boost

by Quadri Olaitan
September 9, 2025
Naira
Economy

Naira slips slightly as dollar demand surges

by David Okere
June 21, 2026

Leave a ReplyCancel reply

Tiktok Community

You're not logged into Tiktok, please login here
UBA bank ad UBA bank ad UBA bank ad

Recent News

Federal Ministry of Education 640x360 1

reps urge ministry to make biology compulsory in schools

October 28, 2026
TINUBU WRITING 1

Tinubu chairs FEC meeting to consider new SME policy

October 28, 2026
w1280xh720 GettyImages 2260829901

Copa del Rey postpones 24 matches after Spain train crash

October 28, 2026
ADC LOGO BIG 1

Rivers ADC rejects Magnus Abe’s claim about Amaechi

October 28, 2026
  • Trending
  • Comments
  • Latest
N250k signature

Abiodun vs Amosun: N250k signature plot deepens Ogun political crisis ahead Tinubu visit

April 3, 2026
Omoge Saida

Omoge Saida sparks Nigerian social media over leaked video

October 28, 2025
#image_title

17 mobile money operator companies licensed by CBN in Nigeria

March 22, 2023
james akaie scaled

Nollywood SFX makeup artist James Akaie allegedly dies after explosion on Abeokuta movie set

January 13, 2026
amoke

‘Meals by Amoke’ We serve traditional dishes in a modern way, Bukoye Fasola reveals

19
Image 2024 03 26 at 120645 AM jpeg

Charles Inojie, Ali Nuhu call on communities to #MakeWeHalla against domestic violence

11
Meran Primary Health Centre Lagos father Meran hospital

Lagos father shares heartbreaking experience at Meran Primary Health Centre (Photos)

4
fls2

‘Disarticulated system’ Gov’t confused about Nigerian education, expert laments

3
Federal Ministry of Education 640x360 1

reps urge ministry to make biology compulsory in schools

October 28, 2026
TINUBU WRITING 1

Tinubu chairs FEC meeting to consider new SME policy

October 28, 2026
w1280xh720 GettyImages 2260829901

Copa del Rey postpones 24 matches after Spain train crash

October 28, 2026
ADC LOGO BIG 1

Rivers ADC rejects Magnus Abe’s claim about Amaechi

October 28, 2026
ADVERTISEMENT
October 2026
SMTWTFS
 123
45678910
11121314151617
18192021222324
25262728293031
« Sep    
Freelanews

Freelanews is a Nigerian digital news platform that delivers timely, credible, and engaging stories across politics, business, entertainment, lifestyle, and the creative industry, with a strong focus on promoting innovation, integrity, and inclusivity in storytelling.

Today’s Popular

  • Abiodun

    Abiodun gives update on new Awujale’s emergence

    0 shares
    Share 0 Tweet 0
  • ‘Breaking News’ Babatunde Omidina, Baba Suwe, is dead

    0 shares
    Share 0 Tweet 0
  • 17 mobile money operator companies licensed by CBN in Nigeria

    0 shares
    Share 0 Tweet 0
  • Ifeoma playfully reacts as Paul Okoye receives recognition in Australia

    0 shares
    Share 0 Tweet 0

Just Published!

Federal Ministry of Education 640x360 1

reps urge ministry to make biology compulsory in schools

October 28, 2026
TINUBU WRITING 1

Tinubu chairs FEC meeting to consider new SME policy

October 28, 2026
w1280xh720 GettyImages 2260829901

Copa del Rey postpones 24 matches after Spain train crash

October 28, 2026
ADC LOGO BIG 1

Rivers ADC rejects Magnus Abe’s claim about Amaechi

October 28, 2026
SWAN

SWAN hails stronger action against illicit alcohol trade

October 28, 2026
No Result
View All Result
  • About Us
  • Contact
  • Cookie Policy
  • Editorial Charter
  • Corrections Policy
  • Advertisement

© 2026 Freelanews | by Iretura.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events

© 2026 Freelanews | by Iretura.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.