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The Infrastructure Concession Regulatory Commission (ICRC) has characterized the signing of the concession agreement for Enugu’s Akanu Ibiam International Airport as a significant enhancement for the South-East economy.

In a statement made on Sunday in Abuja, Dr. Jobson Ewalefoh, the Director-General of ICRC, referred to the agreement as a significant achievement in the Federal Government’s efforts to modernise national infrastructure via Public-Private Partnerships (PPPs).

According to Ewalefoh, the PPP agreement was executed by the Ministry of Aviation and Aerospace Development and the Federal Airports Authority of Nigeria (FAAN) on behalf of the Federal Government.

He stated that it highlighted the increasing momentum of PPPs as a key component of infrastructure delivery in President Bola Tinubu’s administration.

Ewalefoh stated that the transaction was carried out under the regulatory oversight of the ICRC, which ensured adherence to the national PPP framework, including the certification of Business Cases and due diligence.

“It also included negotiations, approval by the Federal Executive Council and vetting of the Concession Agreement by the Federal Ministry of Justice, before the contract was executed, in line with the ICRC Establishment Act.”

According to Ewalefoh, the signing sends a robust signal of Nigeria’s preparedness to enhance the involvement of the private sector in infrastructure development.

He stated that the transaction represented the project’s commercial closure and laid the groundwork for complete execution in the upcoming phases.

“This concession will strengthen the airport’s role as a vital gateway for the South- East states by enhancing connectivity and providing essential links to domestic and international destinations—supporting tourism, trade and broader economic growth across the region.

“The concession demonstrates the Federal Government’s resolve to unlock private capital, improve service delivery, and reposition strategic national assets for long-term sustainability in line with global best practice,” he said.

Ewalefoh pointed out that the concession of Enugu Airport was in line with the ICRC’s current initiatives aimed at making PPP processes more efficient, enhancing cooperation among different agencies, and speeding up project delivery.

He believes that this will have extensive consequences for economic growth in all sectors and areas of the country.

He noted that the ICRC, serving as Nigeria’s PPP regulator, offered regulatory guidance and transaction assurance to ensure the process conformed to established PPP frameworks, safeguarded value for money, and bolstered investor confidence.

Ewalefoh praised Gov. Peter Mbah of Enugu State for his tireless efforts and strategic dedication to establishing the state as a major economic hub, emphasizing that such proactive leadership and ongoing involvement were essential for achieving transformative infrastructure results.

He called on other state governments to follow the developing example established by subnational leaders, including Mbah’s counterparts in Ondo, Cross River, and Lagos states.

“These state governments are leveraging PPPs to attract investment, accelerate infrastructure delivery, and drive inclusive economic growth in their states.”

Ewalefoh praised the Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, for his leadership and vital role in promoting reforms and enhancing private sector involvement in aviation.

He praised FAAN and all transaction partners for achieving commercial close, reiterating the ICRC’s commitment to assisting Ministries, Departments, and Agencies as implementation aligned with President Bola Tinubu’s Renewed Hope Agenda.

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