The House of Representatives has launched efforts to recover more than $7 billion allegedly owed to the Federation Account by foreign airlines operating in Nigeria since 2023.
The Chairman of the House Committee on Finance, Hon. Abiodun Faleke, announced the initiative on Tuesday in Abuja during the flag-off of the review of the 2023–2025 revenue monitoring exercise by the Federal Airports Authority of Nigeria (FAAN).
Faleke revealed that the committee is aware of over $7 billion in outstanding debts accumulated by international carriers at the time President Bola Tinubu assumed office in 2023.
He directed FAAN to provide a detailed breakdown of all unpaid amounts for 2023, 2024, and 2025, including the names of the indebted airlines.
The move comes amid concerns over fiscal leakages and the need to boost government revenue.
Faleke emphasized the importance of addressing these debts to strengthen the national treasury and ensure accountability in the aviation sector.
FAAN Managing Director, Mrs. Olubunmi Kuku, presented figures showing partial recovery from domestic debts in 2023.
Out of N25.864 billion owed by airline operators that year, the agency recovered N8.083 billion (31.25%), leaving a balance of N17.780 billion. No updated recovery figures were provided for subsequent years.
The committee's actions highlight ongoing challenges in the aviation industry, including past issues with trapped funds due to foreign exchange shortages, though significant progress was reported in clearing earlier backlogs.
The House aims to enforce payments and prevent further accumulation of debts to the Federation Account.
Further hearings and engagements with stakeholders are expected as the committee pushes forward with the recovery process.
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