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Govs slammed for wasting N160bn on unviable airports
Govs slammed for wasting N160bn on unviable airports
Six state governments including Ekiti, Ebonyi, Jigawa, Yobe, Nasarawa, and Bayelsa have spent about N160bn on airport projects that opposition politicians and aviation professionals classified as unviable.
Stakeholders say the huge public funds expended on the facilities have amounted to waste. They condemned the state governors and asked Nigerians to hold them responsible for the waste.
However, some industry players advised that the facilities be converted into skill acquisition centres for the benefit of the citizens.
Some called on relevant authorities to probe the money spent on the unviable projects
Checks by the PUNCH showed that the six states spent over N160bn on their various airport projects, but the facilities have not attracted a considerable number of aircraft for charter or commercial purposes.
Apart from the Murtala Muhammed Airport, Lagos; Nnamdi Azikiwe International Airport, Abuja, and Port Harcourt International Airport, Port Harcourt, Rivers State, that generate about 80 per cent of revenues for the Federal Airports Authority of Nigeria, other airports constitute a financial burden to FAAN.
But, despite the challenges facing most of the aerodromes in the country, more state governments have continued to pump scarce resources into the construction of more airports with most designating them as “cargo airports.”
In the last decade, no fewer than 10 state governments have mooted or commenced such projects.
Some of the states include Osun, Ebonyi, Ogun, Benue, Zamfara, Nasarawa, Abia, Ekiti, and Bayelsa. Sadly, most of these projects were never completed, while others were abandoned by their successors in office.
They include Asaba Airport, Ebonyi Airport, Bayelsa Airport, Ogun Cargo Airport, MKO Abiola International Airport, Osun, which is uncompleted, Ekiti Cargo Airport, Anambra Cargo Airport, Abia Airport, Wachakal Airport in Damaturu, and Dutse International Airport in Jigawa.
Others are Lafia Airport in Nasarawa which is uncompleted, Kebbi Airport, Auchi Airport in Edo which is uncompleted, Zamfara Airport, and Gombe Airport.
In 2017, Governor Willie Obiano of Anambra State commenced his move to build an airport in the state. Six years later, the governor renewed his zeal for the project, A cargo airport in Umueri, in the Anambra East Local Government Area.
Anambra State is surrounded by airports in Delta, Imo, and Enugu states but the governor embarked on the project.
Though many believed the project was new in the plans of the government and needless, the governor in April 2017 flagged off the airport project.
At the flagging-off ceremony in April 2017, Obiano said that the government wanted to create an airport city in the state with a model that would accommodate two runways, an aviation fuel dump, an airport hotel, an industrial business park, an international convention centre, as well as a facility for aircraft maintenance.
He had initially boasted that the airport with a cost implication of $2b as at when it was conceived would join some of the most advanced airports in the world with a capacity to land any of the most sophisticated vessels known to man.
In 2021, the state government said N6b was spent and not $2b as alleged in some quarters.
Also, the immediate past aviation minister, Hadi Sirika, conveyed the approval for the construction of the Ebonyi airport through correspondence to then Governor David Umahi, now Minister of Works. The letter was signed by the Director of Safety and Technical Policy, Capt Talba Alkali, on behalf of the ministry in 2019.
At the commissioning of the airport, Umahi revealed that he spent over N36bn to build the airport, located in Onueke, Ezza South Local Government Area. But as at the time of filing this report, the airport situation is best described as comatose.
The immediate past Ekiti State Governor, Kayode Fayemi, expended N16bn public funds on the Akure airport, but the airport has also refused to attract aircraft over its non-viability.
When the governor conceived the idea, it was greeted by criticisms from stakeholders both in the state and beyond but the governor vetoed the cargo airport which is currently not in use.
As of January 2023, the Special Adviser to Governor Biodun Oyebanji on Budget, Economic Planning, and Performance Management, Niyi Adebayo, revealed that N16.6bn had been spent on the yet-to-be-completed facility in Ekiti State.
He explained that the fund was used for perimeter fencing, completion of the runway and taxiway, terminal building, and payment of compensation for the farmers whose farmlands were acquired for the project.
In Jigawa State, ex-governor Sule Lamido, also pumped N4bn to build an airport for the state, one that was commissioned in 2014 by former President Goodluck Jonathan.
The airport facility is located less than 100km from Aminu Kano International Airport, making experts describe it as wasteful spending.
Also, in Bayelsa, former Governor Seriake Dickson spent N70bn on the construction of an airport which began in 2012 and was completed in February 2019.
The amount spent on the airport by the governor has been disputed by some stakeholders, among which was the former National Chairman of the All Progressives Congress, Adams Oshiomole.
Oshiomhole had stated that the project gulped over N100bn but Dickson insisted that it was done at the rate of N70bn.
Same for Yobe State where the transport commissioner, Abdullahi Kukuwa, had recently told newsmen that the state spent more than N18bn on the unused airport project initiated in 2017.
Like its counterpart, the Nasarawa cargo airport project was initiated in December 2015 during the second tenure of a former Governor Umaru Al-Makura, who said he had the vision to open the state for investment opportunities.
The project was estimated at N10bn and was to ease cargo traffic at the Nnamdi Azikiwe International Airport in the Federal Capital Territory, Abuja, because Nasarawa is the closest state bordering the FCT.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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