FG Concession of Port Harcourt Airport for 30 Years

The Federal Government has officially concessioned Port Harcourt International Airport for a duration of 30 years, following the earlier concession of Enugu International Airport. This move is part of a strategy to enhance operational efficiency and revenue generation at major airports.

The concession will be managed by Port Harcourt Airport Company Limited, a subsidiary of R28 Holdings Limited, which was incorporated in April 2021. Minister of Aviation and Aerospace Development, Festus Keyamo, stated that the government had been subsidizing loss-making airports with profits from profitable ones.

He emphasized the necessity of private investment for developing non-aeronautical components of airports. The concession agreement has received approval from President Bola Tinubu and the Federal Executive Council.

Keyamo assured that the concession would not result in job losses or reduced conditions of service for airport workers, as their welfare is a priority. The government is also considering similar arrangements for Benin and Yola airports.