Federal Government Targets $4 Billion Revenue from Concession of Nigerian Airports for Developmental Projects

…By Jack Sylva for TDPel Media. The Federal Government of Nigeria aims to generate about $4 billion or N1.84 trillion from the ongoing concession of two major airports in the country.

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The Nnamdi Azikiwe International Airport in Abuja and the Mallam Aminu Kano International Airport in Kano are the airports being considered for concession.

The Federal Ministry of Aviation is appealing to Nigerians for their cooperation in ensuring the successful concession of these airports, highlighting the substantial benefits it will bring.

Enhanced Infrastructure, Technology, and Services:

The Head of Press and Public Affairs at the Federal Ministry of Aviation, Oluseyi Odutayo, emphasized that private sector investment in the airports through concession would result in significant financial benefits.

This infusion of funds would enable necessary upgrades to airport infrastructure, technology, and services.

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The government believes that the anticipated revenue generated from the concession, estimated to be over $4 billion, will largely benefit the Federal Airports Authority of Nigeria (FAAN), allowing for the implementation of various developmental projects.

Immediate Payments and Commitment:

Under the concession agreement for the Nnamdi Azikiwe International Airport and the Mallam Aminu Kano International Airport, the successful bidder, Corporacion America Airport Consortium, a company listed on the New York Stock Exchange, has committed to making upfront payments.

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Specifically, they have agreed to pay $7 million for NAIA and $1.5 million for MAKIA.

These initial payments demonstrate the bidder’s dedication to investing in the development and improvement of these airports.

Resolution of Legal Disputes:

The government has assured stakeholders that ongoing legal disputes related to the concession will be addressed transparently and promptly.

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The Federal Ministry of Aviation is committed to following due legal processes and maintaining transparency throughout the resolution of these legal arguments.

Transformative Vision and Collaboration:

The Nigeria Airport Concession Programme (NACP) aims to adopt international best practices to enhance the quality and operation of airports, improve the travel experience for Nigerians, attract foreign direct investment, and generate increased revenue for the government.

The government calls on all stakeholders to support this transformative process and work together to achieve a thriving aviation sector that benefits all Nigerians.

Conclusion:

Embracing the Nigeria Airport Concession Programme has the potential to create an aviation industry that drives economic growth, attracts foreign investment, and positions Nigeria as a regional hub for air travel and commerce.

The Federal Government seeks to leverage the private sector’s involvement and cooperation to realize these goals, ensuring a prosperous future for Nigeria’s aviation sector and its citizens.

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About the Author:

Jack Sylva is an accomplished writer and producer with over three years of experience creating news content for TDPel Media. He is a skilled and dedicated professional who is passionate about keeping his readers informed and up-to-date on the latest news and events. Jack has a keen eye for detail and a talent for crafting compelling stories that resonate with his audience. His hard work and dedication have made him a valuable member of the TDPel Media team, and his contributions to the organization have been instrumental in its success. In his free time, Jack enjoys reading, writing, and exploring the great outdoors. He lives in London, United Kingdom.

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