Nigeria concedes Port Harcourt airport for 30 years
By the AFREEQUE newsroom, based on Vanguard
The Nigerian government has signed a 30-year concession for Port Harcourt international airport in order to attract private investment and improve its efficiency. The minister Festus Keyamo announced the agreement on Thursday in Abuja with Port Harcourt Airport Company Limited, Vanguard reports.
The Nigerian federal government signed a 30-year concession for Port Harcourt international airport with Port Harcourt Airport Company Limited on Thursday in Abuja, according to the Minister of Aviation and Aerospace Development, Festus Keyamo. The agreement aims to attract private investment, improve operational efficiency and increase the platform’s revenue, he said.
Festus Keyamo explained that the profits of Nigeria’s main airports currently serve to finance those running at a loss. Staff, diesel fuel and operating costs weigh on public finances, while the state does not have the resources needed to develop certain non-aeronautical commercial activities, according to the minister.
The minister said the concession had received the approval of President Bola Tinubu and the Federal Executive Council. He added that previous attempts had been blocked by opposition from aviation unions and legal proceedings. The government obtained the unions' agreement before the signing and guarantees that jobs and service conditions will be maintained, in line with Tinubu’s directives.
The concessionaire will be subject to performance evaluations every five years, Keyamo also announced. The government will be able to take back the airport if the terms of the concession are not met, he warned.
