The Infrastructure Concession Regulatory Commission (ICRC) has hailed the concession agreement for Akanu Ibiam International Airport, Enugu, as a landmark achievement in Nigeria’s infrastructure reform agenda.
The Director-General of the Commission, Dr Jobson Ewalefoh, said in a statement on Sunday that the agreement underscored the Federal Government’s commitment to leveraging Public-Private Partnerships (PPPs) to modernise critical national assets.
Dr Ewalefoh said the concession, signed by the Ministry of Aviation and Aerospace Development and the Federal Airports Authority of Nigeria (FAAN), was carried out under ICRC’s regulatory oversight to ensure transparency, value for money and investor confidence.
He explained that the process involved rigorous due diligence, negotiations, Federal Executive Council approval and legal vetting by the Federal Ministry of Justice before execution, in line with statutory requirements.
According to him, the agreement marks the project’s commercial close and sets the stage for full implementation in the coming phases.
Dr Ewalefoh said the concession would enhance the airport’s capacity as a major hub for the South-East, improve domestic and international connectivity and drive economic growth through increased trade and tourism.
He commended Enugu State Governor, Mr Peter Mbah, for his strategic leadership in positioning the state as an emerging economic hub, and urged other state governments to emulate similar PPP-driven approaches adopted in states such as Ondo, Cross River and Lagos.
The ICRC Director-General also praised the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, SAN, and FAAN for their roles in advancing private sector participation in the aviation industry, reaffirming the Commission’s commitment to supporting project implementation in line with President Bola Tinubu’s Renewed Hope Agenda.
