VAIDS

Wednesday, May 27, 2015

Over N30bn pension overhang limits FAAN’s services – Chidoka

The  over N30 billion unfunded pension liability and the high indebtedness by domestic and foreign airlines are adversely impacting on the finances of  the Federal Airports Authority of Nigeria (FAAN) and its ability to render services and be self-sustaining, said Osita Chidoka, the Aviation Minister on Tuesday.
 
Chidoka said the Authority’s major problem was its finances, which had been depleted by companies that got services from FAAN but refused to pay.
Speaking at an interactive session with stakeholders in Lagos, he said: “Key issues confronting FAAN are financial management where it has over N30 billion in pension liabilities that are unfunded, airlines indebtedness to the agency, which impacted its finances and limited its ability to be self sustaining.”

Itemising other issues, Chidoka said there that “are staff inefficiencies in Nigeria airports when compared with other airports with similar size around the world. There are ageing staff with very little competitive drive, as well as absence of long term staff planning due to absence of long term business plan.”

He explained that some of the solutions and interventions that had been made, were that the agency should be transformed into airport management companies in clusters of airports with a view to privatising the companies.

He added that there was the need to reconcile the Civil Aviation Act and FAAN Act and include a phrase which would clearly state that penalties arising from any violation or offence to the FAAN Act are to be set and approved by the Nigerian Civil Aviation Authority (NCAA).
“We’ve set up committee to look at charges to align them with competition; a procurement process for the development of Master-plan for Nigeria’s airports has commenced, review of airports’ remodelling project by independent quantity surveyors; tracking of staff on customer service; introducing performance management apart from refocusing of Aerotropolis project by injecting greater transparency”, he said.

Osita, who said that almost the same issues were limiting the services and sustainability of the NCAA, added that the regulatory agency’s control by the Ministry of Aviation was a bigger problem for NCAA, explaining that it was conflicting with the agency’s regulatory prerogative. “NCAA has both economic and safety oversight functions, which are conflict of interest, apart from airlines’ indebtedness which is limiting its sustainability,” he added.
Sade Williams

No comments:

Post a Comment

Share

Enter your Email Below To Get Quality Updates Directly Into Your Inbox FREE !!<|p>

Widget By

VAIDS

FORD FIGO

+widget