{"id":16045,"date":"2026-11-12T15:45:46","date_gmt":"2026-11-12T15:45:46","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/12\/fg-concessions-port-harcourt-airport-for-30-years-eyes-two-others\/"},"modified":"2026-11-12T15:45:46","modified_gmt":"2026-11-12T15:45:46","slug":"fg-concessions-port-harcourt-airport-for-30-years-eyes-two-others","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/12\/fg-concessions-port-harcourt-airport-for-30-years-eyes-two-others\/","title":{"rendered":"FG concessions Port Harcourt airport for 30 years, eyes two others"},"content":{"rendered":"
\"FG<\/p>\n

By Folarin Kehinde<\/strong><\/p>\n

The Federal Government has signed a 30-year concession agreement for the Port Harcourt International Airport as part of efforts to attract private investment, improve operational efficiency and unlock the economic potential of the nation\u2019s loss-making airports.<\/p>\n

The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this on Thursday in Abuja during the signing of the concession agreement with Port Harcourt Airport Company Limited.<\/p>\n

Keyamo said the concession was aimed at improving the operational efficiency of the airport, boosting revenue generation and unlocking its commercial potential.<\/p>\n

He explained that the Federal Government had been using profits generated from major airports to subsidise the operations of other airports that were running at a loss.<\/p>\n

According to him, the cost of maintaining airports, including personnel expenses, diesel and other operational requirements, has continued to put pressure on government finances.<\/p>\n

The minister said government lacked the resources to fully develop the non-aeronautical components of some airports, making private sector participation necessary.<\/p>\n

\u201cSome of our airports are being run at a loss. We make so much money from some of our primary airports, and most of those profits are ploughed into running other airports,\u201d Keyamo said.<\/p>\n

He noted that the concession had the approval of President Bola Tinubu and the Federal Executive Council, adding that the process was not a sudden decision but one that successive administrations had struggled to implement.<\/p>\n

Keyamo said previous attempts to concession airports were frustrated by resistance from labour unions and court cases involving the government.<\/p>\n

He, however, attributed the successful conclusion of the process to negotiations with aviation unions, saying the government had secured their agreement before signing the deal.<\/p>\n

The minister assured workers that the concession would not lead to job losses or a reduction in their conditions of service.<\/p>\n

He said Tinubu had directed that the welfare of aviation workers must be protected throughout the concession process.<\/p>\n

\u201cPresident Bola Tinubu was very concerned about that, that no worker should lose his job. The conditions of service should remain the same,\u201d he said.<\/p>\n

Keyamo added that the concessionaire would be subjected to performance reviews every five years to ensure compliance with the terms of the agreement.<\/p>\n

He warned that the government could take back the airport if the concessionaire failed to meet the agreed standards.<\/p>\n

The minister also disclosed that the government had received proposals from investors interested in developing other airports, including those in Benin and Yola.<\/p>\n

He said the government was considering the proposals as part of efforts to make more airports commercially viable.<\/p>\n

Keyamo identified bureaucratic bottlenecks in public institutions as another reason for involving private investors in airport management.<\/p>\n

He argued that private operators could make decisions faster, attract capital and introduce innovative commercial activities capable of increasing revenue.<\/p>\n

According to him, airports have significant revenue opportunities beyond passenger and aircraft-related charges, particularly through shopping malls, supermarkets, conference centres and other commercial facilities.<\/p>\n

He cited the potential of the Port Harcourt airport, noting that its location around the Gulf of Guinea could make it a major regional aviation hub.<\/p>\n

Speaking on behalf of the concessionaire, Group Executive of R28 Holdings, Eyo Asuquo, said the company would bring international standards and improved facilities to the airport.<\/p>\n

Asuquo described the concession process as rigorous, saying the investors had undertaken extensive engagements within and outside Nigeria to demonstrate their capacity to execute the project.<\/p>\n

He assured Nigerians that the agreement would not result in staff retrenchment, adding that the expansion of the airport would create additional employment opportunities.<\/p>\n

He said the company\u2019s ambition was to transform the facility into an airport city and position Port Harcourt as a major hub for the Gulf of Guinea.<\/p>\n

Asuquo added that the company would open up investment opportunities to other interested stakeholders to support the development of the airport.<\/p>\n

The post FG concessions Port Harcourt airport for 30 years, eyes two others<\/a> appeared first on Vanguard News<\/a>.<\/p>\n<\/div>\n

Source: <\/p>\n

Vanguard News<\/div>\n","protected":false},"excerpt":{"rendered":"

By Folarin Kehinde The Federal Government has signed a 30-year concession agreement for the Port Harcourt International Airport as part of efforts to attract private investment, improve operational efficiency and… <\/p>\n","protected":false},"author":1,"featured_media":16046,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-16045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/16045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=16045"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/16045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/16046"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=16045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=16045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=16045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}