FG, FAAN Seal Enugu Airport PPP Deal To Boost Regional Economy ‎ ‎

The Federal Government has signed a concession agreement for the Akanu Ibiam International Airport, Enugu, in a move aimed at boosting economic activities in the South East through Public Private Partnerships, PPPs.

The Infrastructure Concession Regulatory Commission, ICRC, described the development as a major milestone in the government’s drive to modernise critical national infrastructure.
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‎The agreement was executed by the Ministry of Aviation and Aerospace Development and the Federal Airports Authority of Nigeria, FAAN on behalf of the Federal Government.

It reflects the growing use of PPPs as a key infrastructure delivery strategy under the administration of President Bola Ahmed Tinubu.
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‎The ICRC, Nigeria’s PPP regulator, in a statement says it provided regulatory guidance throughout the transaction to ensure full compliance with the national PPP framework.

The process included certification of the business cases, due diligence, negotiations, approval by the Federal Executive Council, and vetting of the concession agreement by the Federal Ministry of Justice.
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‎Speaking on the development, the Director General of ICRC, Dr. Jobson Oseodion Ewalefoh, said the signing of the agreement marks the project’s commercial close and signals Nigeria’s readiness to deepen private sector participation in infrastructure development.
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‎According to him, the concession will strengthen the airport’s role as a vital gateway for South Eastern states by improving connectivity to domestic and international destinations, while supporting tourism, trade and broader economic growth across the region.
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‎Dr. Ewalefoh noted that the project demonstrates the Federal Government’s commitment to unlocking private capital, improving service delivery and repositioning strategic national assets for long-term sustainability in line with global best practices.
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‎He also commended the Governor of Enugu State, Dr. Peter Ndubuisi Mbah, for his strategic efforts to position the state as a key economic destination, urging other state governments to emulate subnational leaders leveraging PPPs to accelerate infrastructure development.
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‎The ICRC boss further praised the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, FAAN and other transaction partners for their roles in achieving commercial close, reaffirming the Commission’s commitment to supporting project implementation in line with President Tinubu’s Renewed Hope Agenda.
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‎PR/Umbwanko Baba