• About Us
    • Àtẹ́lẹwọ́ Podcast
  • Contact
  • Cookie Policy
  • Disclaimer
  • Privacy 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
Airline

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 dental clinic perfect aesthetic dental clinic perfect aesthetic dental clinic

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.

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.

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

Related Posts

Nigeria debt service
Business

Nigeria debt service drains $2.86bn in eight months

by David Okere
October 2, 2025
Ogun
Economy

Net allocation for November 2025 released to Ogun LGAs

by Quadri Olaitan
January 29, 2026
Nigerian economy worsening daily
Economy

Nigerians, are you better than you were two years ago?

by Oreoluwa Ojelabi
July 5, 2025
Ramadan
Economy

Ramadan: rice, beans prices surge across Nigerian markets

by Victory Emmanuel
February 18, 2026
US Nigeria
Economy

US, Nigeria strengthen trade ties under CIP

by Quadri Olaitan
January 30, 2026

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

Recent News

Rivers

Rivers women stage nude protest at Port Harcourt Refinery over NNPCL-China deal

May 11, 2026
CBN

CBN warns Islamic Banks over compliance risks

May 11, 2026
Okpebholo

Okpebholo condemns deadly UNIBEN gate shooting

May 11, 2026
Adeleke

Adeleke deposes convicted Osun monarch Oloyede jailed for fraud in US

May 11, 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
james akaie

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

January 13, 2026
Political persecution in Ogun State

Political persecution in Ogun State: Abiodun moves against Otunba Gbenga Daniel with demolition threats again

August 9, 2025
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
Rivers

Rivers women stage nude protest at Port Harcourt Refinery over NNPCL-China deal

May 11, 2026
CBN

CBN warns Islamic Banks over compliance risks

May 11, 2026
Okpebholo

Okpebholo condemns deadly UNIBEN gate shooting

May 11, 2026
Adeleke

Adeleke deposes convicted Osun monarch Oloyede jailed for fraud in US

May 11, 2026
May 2026
SMTWTFS
 12
3456789
10111213141516
17181920212223
24252627282930
31 
« Apr    
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

  • JAMB

    Breaking news: JAMB retains 150 as cut-off mark for universities

    0 shares
    Share 0 Tweet 0
  • DATKEM Plaza destruction – Where Governor Abiodun erred

    0 shares
    Share 0 Tweet 0
  • Gunmen kill UNIBEN part-time student near campus gate

    0 shares
    Share 0 Tweet 0
  • FCT police detain Ilebaye’s father over assault

    0 shares
    Share 0 Tweet 0

Just Published!

Rivers

Rivers women stage nude protest at Port Harcourt Refinery over NNPCL-China deal

May 11, 2026
CBN

CBN warns Islamic Banks over compliance risks

May 11, 2026
Okpebholo

Okpebholo condemns deadly UNIBEN gate shooting

May 11, 2026
Adeleke

Adeleke deposes convicted Osun monarch Oloyede jailed for fraud in US

May 11, 2026
ASUU

ASUU warns of fresh strike over Federal agreement delay

May 11, 2026
No Result
View All Result
  • About Us
  • Contact
  • Advertisement
  • Sitemap

© 2025 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

© 2025 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.