The Minister of Aviation and Aerospace Development, Festus Keyamo has stated that the Federal Executive Council has approved the full business case for a 30-year concession of Akanu Ibiam International Airport, Enugu.
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Keyamo announced the approval along with the ₦900 billion approved for infrastructure upgraded in the country’s aviation sector after the council’s meeting on Thursday.
The Minister said the Enugu airport deal covers both the airport and its unfinished cargo terminal, adding that it would address financial burdens associated with smaller airports.
“Most of the smaller airports apart from the major ones are running at a loss. The profits we make from Kano, Lagos, and Abuja often go into keeping these others alive,” the minister said.
“That has always been the plan of this administration — to concession some airports to private individuals and entities so they can run them profitably, especially the non-aeronautical parts such as conference centers and shopping malls.
“These non-aeronautical ventures generate as much, if not more, profit than aeronautical operations in modern airports around the world.”
Keyamo said the concession will convert loss-making airports into profit-generating assets that benefit both the government and communities.
“I am not someone who ignores the unions. From the very start, I directed that they must be part of the committee, so at every point, the unions have been fully carried along in this process,” he said.
He added that details of the Enugu airport concession agreement, including members of the consortium and financial terms, will be disclosed soon.
Investogist reported in October 2024 that the Federal Government of Nigeria was set to concession the airports in Enugu, Port Harcourt and three others in the country.
The five international airports for concession were listed as Nnamdi Azikiwe International Airport Abuja, Murtala Muhammed International airport Lagos, Port Harcourt International airport, Aminu Kano International Airport, and Akanu Ibiam International Airport Enugu.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
