Would you like to receive notifications on latest updates of the following headlines?

Aviation Minister Reveals N1Billion Expenses On Faan Officers

POSTED ON February 1, 2024 •   Business      BY Oluwakemi Ademuyiwa

The Minister for Aviation and Aerospace Development, Festus Keyamo has shared an internal finance secret that nothing less than N1 billion has been spent on traveling fees for airport officers.

Keyamo gave the revelation on Thursday while noting that the Nigerian Government allocates a staggering N1 billion annually for Duty Tour Allowance (DTA) and air tickets for officers of the Federal Airports Authority of Nigeria (FAAN) shuttling between Abuja and Lagos.

It should be noted that the aviation minister had made a comment on Channels Television  that N500 million was spent annually but he returned today to retract his statement. 

According to him, FAAN workers incurred expenses of N493,678,620.37 for DTA and N451,058,950.09 for air tickets in 2023 alone.

“When I did my Channels TV interview yesterday, I was not briefed about the amount FAAN spent last year alone on DTA (Duty Tour Allowance) for the principal officers who travelled back and forth from Lagos to Abuja almost daily.

“The amount came up to N493,678,620.37. Aside from the air tickets, which I mentioned amounted to N451,058,950.09.

“So, in total, because of insistence on naming Abuja as the headquarters of FAAN (when there are no offices in Abuja to accommodate all the principal officers), FAAN spent close to N1 billion in one year,” Keyamo emphasized.

Despite opposition from certain quarters, the minister reiterated the Federal Government's decision to relocate the FAAN headquarters from Abuja to Lagos. He had initially announced this decision on January 19th, 2023. The move aims to address operational inefficiencies and streamline resources, with the minister standing firm on the relocation despite opposition.

Would Nigeria incur more expenses in the aviation sector in the year 2024 or would the status quo be maintained?

READ ALSO
JUST IN: Dangote refinery slashes petrol prices by N15 nationwide
BY Abiodun Saheed Omodara May 22, 2025 0

LAGOS, Nigeria — The Dangote Petroleum Refinery recently announced a reduction in the pump pri...

READ ALSO
Sanwo-Olu Advocates for Innovation, Accountability in Economic Policies
BY Abiodun Saheed Omodara May 22, 2025 0

LAGOS, Nigeria - Lagos State Governor Babajide Sanwo-Olu has stated that Nigeria must hasten its pro...

READ ALSO
CBN's Rigid Monetary Policies Threaten Nigeria's Industrialization Efforts
BY Abiodun Saheed Omodara May 22, 2025 0

With the Central Bank of Nigeria (CBN) keeping the benchmark interest rate at 27.5 percent, local ma...

READ ALSO
FG to Auction 753 Housing Units Recovered from Ex-CBN Governor Emefiele
BY Abiodun Saheed Omodara May 20, 2025 0

ABUJA, Nigeria - The Federal Government has declared its intention to sell 753 housing units that we...

READ ALSO
CBN Holds Interest Rate Steady at 27.50% Amid Inflation Concerns and Economic Recovery Efforts
BY Abiodun Saheed Omodara May 20, 2025 0

ABUJA, Nigeria — The Central Bank of Nigeria (CBN) has once again held its benchmark inte...

READ ALSO
CBN Stresses Commitment to Protecting Financial Interests of Nigerians
BY Abiodun Saheed Omodara May 20, 2025 0

The Central Bank of Nigeria (CBN) has assured the public, depositors, and stakeholders that the Nige...

READ ALSO
Australia's Central Bank Cuts Interest Rate to 3.85% Amid Global Tariff Uncertainty
BY Abiodun Saheed Omodara May 20, 2025 0

On Tuesday, Australia’s central bank reduced its main interest rate to its lowest level in two...

READ ALSO
Fuel Prices: Dangote Refinery Credits Naira-for-Crude Initiative for Economic Relief
BY Abiodun Saheed Omodara May 20, 2025 0

The Dangote Petroleum Refinery has announced that the naira-for-crude arrangement enabled it to lowe...

OUR CHANNELS:

NNPCL Empowers 531 NYSC Members with Financial Support and Starter Packs
BY Abiodun Saheed Omodara May 24, 2025 0

The Nigeria National Petroleum Company Limited has provided financial assistance of N531,000 each to...


University of Lagos Addresses NELFund Loan Reimbursement Concerns
BY Abiodun Saheed Omodara May 24, 2025 0

The University of Lagos has refuted online claims regarding the delay in the reimbursement of NELFun...


Nigerian Man Sentenced to 27 Months for $1 Million Insurance Fraud
BY Abiodun Saheed Omodara May 24, 2025 0

A 37-year-old Nigerian named Henry Ezeonyido has been sentenced to 27 months in prison by a United S...


INEC Launches AI Division to Enhance Electoral Processes, Address Challenges
BY Abiodun Saheed Omodara May 24, 2025 0

ABUJA, Nigeria - The Independent National Electoral Commission (INEC) has sanctioned the establishme...


APC Governors Unite to Endorse President Tinubu as 2027 Consensus Candidate
BY Abiodun Saheed Omodara May 24, 2025 0

Governors affiliated with the ruling All Progressives Congress have unanimously backed President Bol...


JUST IN: Tinubu Inaugurates New NNPC Board, Welcomes Fresh Leadership
BY Abiodun Saheed Omodara May 24, 2025 0

ABUJA, Nigeria - President Bola Tinubu has officially inaugurated the board and management of the Ni...


JUST IN: Dangote refinery slashes petrol prices by N15 nationwide
BY Abiodun Saheed Omodara May 24, 2025 0

LAGOS, Nigeria — The Dangote Petroleum Refinery recently announced a reduction in the pump pri...


LASG Allocates N1.6Bn to Support Vulnerable Residents in 2025
BY Abiodun Saheed Omodara May 24, 2025 0

LAGOS, Nigeria - Dedicated to alleviating the challenges faced by underprivileged residents of Lagos...


Sanwo-Olu Advocates for Innovation, Accountability in Economic Policies
BY Abiodun Saheed Omodara May 24, 2025 0

LAGOS, Nigeria - Lagos State Governor Babajide Sanwo-Olu has stated that Nigeria must hasten its pro...


FG advocate for BASA agreement between Nigeria, Italy
BY Abiodun Saheed Omodara May 24, 2025 0

The federal government (FG) has emphasised the importance of reviving the Bilateral Air Services Agr...


More Articles

Load more...

Menu