Nigeria Initiates Airport Concessions Under Tinubu

The federal government of Nigeria, led by President Bola Ahmed Tinubu, has commenced the implementation of airport concessions, a process that previous administrations struggled to achieve. Following the concession of Akanu Ibiam International Airport in Enugu, the government has also approved the concession of Port Harcourt International Airport, with final handover still in progress.

The Federal Executive Council (FEC) has recently approved the business case for this concession, and officials are finalizing legal and contractual agreements. The government has stated that it cannot continue to fund airport infrastructure due to high capital costs, necessitating private sector involvement through public-private partnerships (PPP).

Dr. Richard Aisuebeogun, former Managing Director of FAAN, presented a paper at the Airport Business Summit in Lagos, advocating for airport concession as a strategic tool for enhancing efficiency and competitiveness.

He cited that in Europe, approximately 60% of airports are privately owned, indicating a global trend towards airport divestment and modernization.