Within the 12 months that the Federal Airports Authority of Nigeria (FAAN) experienced a change in leadership, the initial anxiety that usually comes with the appointment of new CEOs has given way to assurances that the agency is headed in the right direction.
This is because the new pilot has been found to possess the skill and knowledge not only in flying the plane to its desired destination but to land it safely.
Welcome Olubunmi Kuku, who assumed office as the managing director of FAAN in December last year and who has left no one in doubt that she has the capacity to deliver on the mandate given to her.
As people observed to see how the first female managing director of FAAN would fit into the shoes of her predecessors like George Ureise, Sale Dunoma, Rabiu Yadudu, Kabir Yusuf and others, Mrs Kuku has proven that the shoes fit her perfectly.
In 12 months, the amiable and hard working finance and administration guru has accomplished several noteworthy achievements that have positively impacted the aviation sector and is strategically reengineering it into a commercially viable entity.
Armed with a B.Sc. in Finance from the University of Illinois and an MBA in International Finance and Strategic Management from DePaul University, Mrs Kuku came prepared to add value to the business of aviation.
Leveraging on her background in finance and business administration, the lady now acknowledged as one with the Midas touch in one year, doubled the income of FAAN by 100 percent through innovation and sheer doggedness.
She has, to buttress the point, led her agency into delivering over N112 billion internally generated revenue (IGR) to the consolidated revenue fund of the federal government in line with the drive of the Bola Ahmed Tinubu administration for the viability of government agencies.
This is a significant improvement on the 2023 and 2022 remittance of 54 billion naira (N54,297,487,089.01) and thirty billion naira (N30,530,347,715.73) respectively.
Drawing from her vast professional experiences at highly rated financial institutions like the Bank of Montreal, Ernst & Young and Deloitte, Visa Consulting Analytics, Kuku was able to diversify FAAN’s revenue streams by increasing non-aeronautical incomes while building strategic partnerships and incentives to boost airport revenue generation.
Her professional exposure is a healthy mix of both foreign and local, which saw her voyaging through Bank PHB Plc, the Ministry of Aviation where she served as the special assistant on strategy and infrastructure development to the minister between July 2011 and 2014 , among others.
Consequently on assumption of duty, she hit the ground running by focusing on safety and security resulting in integrating the reviewed FAAN Corporate Safety Policy that defined her commitment to accountability and responsibility to safety.
As FAAN helmsman, Kuku laid a strong foundation for enhancing productivity. She embarked on massive manpower training to build safety standards where more than 4,000 staff and critical personnel across 6 safety-critical courses were trained in the FAAN Training School which she upgraded in line with International Civil Aviation Organisation (ICAO) standards.
Due to her positive intervention, the school is already attracting students from neighbouring African countries who are trooping in to make use of the facility.
Her infrastructural works like the reconstruction and rehabilitation of internal roads, terminals, conveyor belts, and eradication of touts and undesirable elements have also enhanced security and wellbeing of passengers at the airport.
As a team player, Kuku’s collaboration with other key agencies and stakeholders as well as adherence to NCAA regulations is gradually creating the necessary corporation and synergies needed to fast track development in the sector same way that her mainstreaming with the Lagos State government, FCT and other state governments is deepening collaboration and cooperation.
Without any iota of doubt, Mrs. Olubunmi Kuku’s first year as managing director of FAAN has been marked by a strong commitment to enhancing the operational efficiency, customer experience and improved revenue of the agency and deepening the road map provided by Festus Keyamo, the minister of aviation and aerospace development in creating the needed synergy in line with the Renewed Agenda of President Bola Ahmed Tinubu’s administration for the industry to thrive.
As FAAN continues to evolve under her leadership, these achievements attest to the fact that she’s the man for the job and that she is set to join the ranks of Apple’s Steve Job, Jeff Bezos of Amazon and Anne Mulcahy of Xerox who transformed the fortunes of their organisations to profitable entities in record time.
