Federal Government Grants 30-Year Concession for Port Harcourt Airport

The Federal Government has signed a 30-year agreement to allow a private company to manage Port Harcourt International Airport. This move is part of a plan to attract private investment and improve the airport’s operations.

Festus Keyamo, the Minister of Aviation and Aerospace Development, announced the agreement on Thursday in Abuja. He explained that the goal is to boost the airport’s revenue and unlock its potential for economic growth. Currently, the government uses profits from major airports to support those that are not making money.

Keyamo noted that maintaining airports is costly, with expenses for staff, fuel, and other needs putting a strain on government finances. He emphasized the need for private sector involvement to help develop parts of the airports that are not directly related to flying.

He also mentioned that the concession had the approval of President Bola Tinubu and the Federal Executive Council. This decision was not made quickly; previous attempts to privatize airports faced challenges from labor unions and legal issues. However, negotiations with aviation unions helped reach an agreement.

The minister reassured airport workers that their jobs and working conditions would remain secure under the new management. He stated that President Tinubu is committed to protecting the welfare of aviation employees.

Keyamo added that the private company managing the airport would be reviewed every five years to ensure they meet the agreement’s standards. If they fail to do so, the government could take back control of the airport.

Additionally, the government is looking at proposals from investors interested in developing other airports, including those in Benin and Yola, to make them financially viable. Keyamo highlighted that private operators can make quicker decisions and bring innovative ideas to increase revenue.

Eyo Asuquo, a representative of the company taking over the airport, promised to improve facilities and create more jobs. He aims to transform Port Harcourt Airport into a major hub in the Gulf of Guinea, attracting further investment opportunities.