House of Reps Move to Recover $7bn Debt From Foreign Airlines
By 𝔸bdulrazak Tomiwa
The House of Representatives has moved to recover over $7bn allegedly owed to the Federation Account by foreign airlines since 2023.
Abiodun Faleke, Chairman of the House Committee on Finance, announced the probe during a revenue monitoring exercise involving the Federal Airports Authority of Nigeria (FAAN).
Faleke expressed concern over the high level of debt following testimony from FAAN Managing Director, Olubunmi Kuku. Kuku revealed that of N25.86bn owed by airlines in 2023, only N8.08bn was recovered, leaving a balance of N17.78bn.
Financial records show FAAN generated N191.43bn of its N292.93bn target for the period, a shortfall of over N101.5bn. Kuku attributed payment delays to the involvement of the International Air Transport Association (IATA) and debts from defunct carriers.
Lawmakers criticized the agency’s explanations and accounting inconsistencies, especially given Nigeria’s rising public debt. Faleke demanded a full record of debts from 2023 to 2025, stating, “We are aware that when President Bola Tinubu took over, there was over $7bn owed in the international carriers.”
The Committee directed FAAN to provide detailed flight manifests and passenger data for the past three years. This move aims to verify the exact number of flights and passengers to ensure all statutory landing, parking, and service fees are accurately billed.
Recovering these funds is seen as vital for reducing Nigeria’s budget deficit and reliance on foreign loans. The House plans to tighten oversight on all aviation remittances to ensure that both local and international carriers meet their financial obligations.
