BREAKING: FAAN raises cargo port charges to N20 from N7, effective immediately

The Federal Airports Authority of Nigeria (FAAN) has increased cargo port charges to N20, marking the first upward review of the tariff in nearly two decades.

Nairametrics obtained this exclusively from FAAN on Friday, January 30.

According to FAAN, the adjustment, effective immediately, was driven by inflation, foreign exchange pressures, and cargo infrastructure funding needs.

FAAN said the cargo tariff had remained unchanged since 2008, despite major shifts in Nigeria’s economic conditions over the past 18 years.

According to the authority, cumulative inflation during the period stood at about 287%, making the former N7 charge financially unsustainable.