The Federal Government of Nigeria has officially signed a concession agreement for the Akanu Ibiam International Airport located in Enugu State, a development that has been described as a major economic boost for the South-East region.
According to the Director-General of the ICRC, Dr. Jobson Ewalefoh, the concession agreement represents a strategic step toward strengthening infrastructure delivery while encouraging private sector participation. He explained that the agreement was executed by the Ministry of Aviation and Aerospace Development alongside the Federal Airports Authority of Nigeria (FAAN), acting on behalf of the Federal Government.
He further explained that the entire transaction was carried out under the regulatory supervision of the ICRC. This process ensured full compliance with Nigeria’s national PPP framework, including the certification of the project’s business case and comprehensive due diligence.
According to Ewalefoh, the process also involved structured negotiations, formal approval by the Federal Executive Council, and a detailed legal review of the concession agreement by the Federal Ministry of Justice. These steps were completed before the final execution of the contract, in accordance with the provisions of the ICRC Establishment Act.
Describing the signing as a strong indicator of Nigeria’s preparedness to deepen private sector involvement in infrastructure development, Ewalefoh stated that the transaction marked the project’s commercial close and paved the way for full implementation in subsequent phases.
He explained that the concession would significantly enhance the airport’s capacity as a critical gateway serving the South-East states. By improving connectivity and strengthening links to both domestic and international destinations, the airport is expected to support tourism, facilitate trade, and contribute to broader economic development across the region.
Ewalefoh added that the concession underscores the Federal Government’s determination to unlock private investment, improve service delivery, and reposition key national assets for long-term sustainability in line with global best practices.
He further noted that the Enugu Airport concession aligns with the ICRC’s ongoing efforts to simplify PPP processes, improve collaboration among government agencies, and accelerate project execution nationwide. According to him, these efforts are expected to generate wide-ranging economic benefits across multiple sectors and regions of the country.
As Nigeria’s official PPP regulator, Ewalefoh said the ICRC provided regulatory guidance and transaction assurance throughout the process. This was done to ensure adherence to established PPP frameworks, protect value for money, and reinforce investor confidence.
He commended the Governor of Enugu State, Peter Mbah, for his consistent commitment and strategic efforts toward positioning the state as an emerging economic hub. Ewalefoh noted that such focused leadership and sustained engagement play a crucial role in achieving transformational infrastructure outcomes.
He also encouraged other state governments to adopt similar approaches, pointing to subnational leaders in states such as Ondo, Cross River, and Lagos, who are increasingly leveraging PPP models to attract investment, speed up infrastructure delivery, and promote inclusive economic growth.
In addition, Ewalefoh praised the Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, for his leadership and key role in driving sector reforms and expanding private sector participation within Nigeria’s aviation industry.
He equally commended FAAN and all transaction partners for successfully reaching commercial close on the project, while reaffirming the ICRC’s commitment to supporting Ministries, Departments, and Agencies as implementation continues in line with President Bola Tinubu’s Renewed Hope Agenda.
Kindly Share:
Discover more from LMSINT STORE
Subscribe to get the latest posts sent to your email.
