FAAN Defends MM2 Concession Review for Investor Confidence

Olubunmi Kuku, the Managing Director of the Federal Airports Authority of Nigeria (FAAN), addressed the review of the concession agreement for Murtala Muhammed Airport Terminal II, aiming to restore investor confidence and ensure fair resolutions to longstanding disputes in Nigeria's public-private partnership projects. Speaking at the Aviation Industry Conference in Togo, Kuku highlighted the importance of successful public-private partnership models for infrastructure development in African air transport.

She noted that the Federal Executive Council approved the renegotiation process, which faced numerous challenges, including market risks. Kuku emphasized the need for clarity in managing concession arrangements to prevent future disputes and improve project delivery.

She advocated for a national aviation delivery team to coordinate major infrastructure projects and called for stronger regional commitment to aviation financing. Kuku also suggested enhancing existing financial institutions with specialized aviation desks to better support bankable projects, rather than creating new financing institutions.