BY COBHAM NSA – The Infrastructure Concession Regulatory Commission (ICRC) has described the concession agreement signing for the Akanu Ibiam International Airport as a significant milestone in ongoing efforts by the Federal Government to deploy Public-Private Partnerships (PPPs) in modernising critical national infrastructure and providing a major boost for the South-Eastern economy.
Signed by the Ministry of Aviation and Aerospace Development and the Federal Airports Authority of Nigeria (FAAN) on behalf of the Federal Government, the agreement underscores the growing momentum of PPPs as a central pillar of infrastructure delivery under the administration of President Bola Ahmed Tinubu.
Director-General of Infrastructure Concession Regulatory Commission (ICRC), Jobson Oseodion Ewalefoh said the transaction was undertaken under the Commission’s regulatory guidance that ensured compliance with the national PPP framework that included the certification of the Business Cases, due diligence, negotiations, and approval by the Federal Executive Council (FEC).
Ewalefoh also said explained that the Federal Ministry of Justice vetted the Concession Agreement before the contract was executed, in line with the ICRC Establishment Act.
In a statement issued at the weekend, the ICRC Chief Executive described the signing as a strong signal of Nigeria’s readiness to deepen private sector participation in infrastructure development, noting that the transaction marks the project’s commercial close and sets the stage for full implementation in the coming phases.
According to him, “This concession will strengthen the airport’s role as a vital gateway for the Southeast States by enhancing connectivity and providing essential links to domestic and international destinations, supporting tourism, trade and broader economic growth across the region”.
He said the concession further 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.
Indicating that the Enugu Airport concession aligns with ICRC’s ongoing efforts to streamline PPP processes, strengthen inter-agency collaboration and accelerate project delivery, with far-reaching implications for economic expansion across all sectors and regions of the country, Dr Ewalefoh said as Nigeria’s PPP regulator, the Commission provided regulatory guidance and transaction assurance to ensure the process aligns with established PPP frameworks, safeguards value for money, and strengthens investor confidence.
The ICRC boss lauded Governor Peter Ndubuisi Mbah of Enugu State for his relentless efforts and strategic commitment to positioning the state as a key economic destination, noting that such proactive leadership and sustained engagement are critical to delivering transformational infrastructure outcomes.
He urged other state governments to emulate the growing example set by sub-national leaders, such as Enugu, Ondo, Cross River and Lagos States’ governors, among others, currently leveraging Public-Private Partnerships to attract investment, accelerate infrastructure delivery and drive inclusive economic growth in their states.
Dr Ewalefoh also saluted the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, SAN, for his leadership and instrumental role in driving reforms and advancing private sector participation in the aviation sector, as well as the Federal Airports Authority of Nigeria (FAAN) and all transaction partners for reaching commercial close.
Importantly too, he reaffirmed the Commission’s resolve to support Ministries, Departments and Agencies (MDAs) as implementation progresses in line with President Tinubu’s Renewed Hope Agenda.
