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Concession is being sought by the Federal Government four airports for a period of 20-30 years.
The ministry of aviation made this announcement in a frequently asked questions (FAQ) document released on Wednesday.
Listed among airports to be consessioned, are Murtala Muhammed Airport (MMA), Lagos; the Nnamdi Azikiwe International Airport, Abuja; Malam Aminu Kano Airport, Kano and Port Harcourt International Airport, Rivers State.
A concession is a form of public-private partnership (PPP) where a government-owned asset is being operated and maintained by a private investor for a period of time on terms contained in a contract.
Read the document in part: “Infrastructure concessions of this nature come with a significant financial obligation which any responsible concessionaire will no doubt be keen to recoup”.
“To this end we envisage a minimum of 20) to 30 years for the programme, which may be extended depending on performance and Nigeria’s best interests.
“That said, the duration is not set in stone and will be subject to negotiation and then final approval by the federal executive council.”
The aviation ministry explained that the planned concession would not affect the repayment of the $500 million loan taken from the China Exim Bank for the airports’ terminals.
“China Civil Engineering and Construction Corporation (CCECC) was contracted to deliver a number of infrastructure projects throughout Nigeria in 2013. The Passenger Terminal development works are a small part of this, and the federal government has every intention to service its obligation,” it said.
It also said that the government was starting with the most strategic assets because successful delivery of the concession agreement would give stakeholders the confidence to consider other possibilities in the aviation sector.
In 2016, the federal government had indicated interest in concessioning the Lagos, Abuja, Port Harcourt and Kano airports to increase their capacity and efficiency.