FG Targets About N1.84 Trillion From Abuja, Kano Airport Concession

About $4 billion or N1.84 trillion is being targeted by the Federal Government from the ongoing concession of the Nnamdi Azikiwe International Airport, Abuja, and the Mallam Aminu Kano International Airport, Kano.

Naija News understands that the Federal Ministry of Aviation has against this backdrop pleaded with Nigerians for their cooperation towards the successful concession of both airports because the benefits are large.

The Head of Press and Public Affairs, Federal Ministry of Aviation, Oluseyi Odutayo, in a statement in Abuja on Monday, noted that the infusion of private sector investment and the resulting financial benefits would enable Nigerians to implement the much-needed upgrades to airport infrastructure, technology, and services.

While giving an update on the ongoing Nigeria Airport Concession Programme, Odutayo said “Over the concession period, the projected nominal revenues from the combined concession of NAIA and MAKIA exceed $4bn. With over 70 per cent of the projected revenues payable to the Federal Airports Authority of Nigeria, the government will benefit from a substantial revenue stream that can be utilised for various developmental projects.

“Under the concession agreement for Nnamdi Azikiwe International Airport and Mallam Aminu Kano International Airport, the successful bidder, Corporacion America Airport Consortium, (a New York Stock Exchange Company), has committed to making upfront payments of $7m for NAIA and $1.5m for MAKIA.

“These immediate payments demonstrate their commitment to investing in the development and enhancement of these airports.”

Speaking further, Odutayo remarked that the government has reaffirmed its commitment to look into ongoing legal disputes transparently and promptly and follow the due legal process to keep transparency throughout the resolution of the legal arguments.

He explained that ”The NACP envisions international best practices as a model to improve the quality and operation of airports, enhance the travel experience for Nigerians, attract foreign direct investments, and generate increased revenue for the government.

“We urge all stakeholders to support this transformative process and work together to achieve our shared vision of a thriving aviation sector that benefits all Nigerians.

“By embracing the Nigeria Airport Concession Programme, we can create an aviation industry that drives economic growth, attracts foreign investment, and positions Nigeria as a regional hub for air travel and commerce.”