The Infrastructure Concession Regulatory Commission (ICRC) has welcomed the signing of the concession agreement for the Akanu Ibiam International Airport, Enugu, describing it as a landmark achievement in the Federal Government’s drive to modernise critical infrastructure through Public-Private Partnerships (PPPs) and a significant stimulus for economic growth in the South-East.
The PPP agreement, executed by the Ministry of Aviation and Aerospace Development and the Federal Airports Authority of Nigeria (FAAN) on behalf of the Federal Government, reinforces the increasing role of PPPs as a cornerstone of infrastructure delivery under the administration of President Bola Ahmed Tinubu.
The transaction was carried out under the regulatory oversight of the ICRC, which ensured full compliance with the national PPP framework, a process that included the certification of the Outline and Full Business Cases, comprehensive due diligence, negotiations, approval by the Federal Executive Council (FEC), and legal vetting of the concession agreement by the Federal Ministry of Justice, in accordance with the ICRC Establishment Act.
Commenting on the development, the Director-General of ICRC, Dr. Jobson Oseodion Ewalefoh, said the signing sends a strong signal of Nigeria’s readiness to deepen private sector participation in infrastructure development, and noted that the agreement marks the project’s commercial close and paves the way for full-scale implementation in subsequent phases.
According to him, the concession will reinforce the airport’s position as a strategic gateway to the South-East by improving connectivity and strengthening links to both domestic and international destinations, thereby supporting tourism, trade and broader regional economic development.
Dr. Ewalefoh added that the Enugu Airport concession reflects the Federal Government’s determination to unlock private capital, enhance service delivery and reposition key national assets for long-term sustainability in line with global best practices. He said the project also aligns with the Commission’s efforts to streamline PPP processes, deepen inter-agency collaboration and accelerate project delivery across the country.
He further explained that, as Nigeria’s PPP regulator, the ICRC provided transaction assurance and regulatory guidance to ensure value for money, adherence to established frameworks and strengthened investor confidence.
The ICRC boss commended the Governor of Enugu State, Dr. Peter Ndubuisi Mbah, for his strategic leadership and sustained commitment to positioning the state as a major economic destination, stressing that such proactive engagement is essential for delivering transformational infrastructure.
He urged other state governments to emulate subnational leaders, including those of Enugu, Ondo, Cross River and Lagos States, who are increasingly leveraging PPPs to attract investment, fast-track infrastructure development and promote inclusive economic growth.
Dr. Ewalefoh also praised the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, SAN, for his leadership in driving reforms and expanding private sector participation in the aviation sector.
He equally commended FAAN and all transaction partners for achieving commercial close, while reaffirming the ICRC’s commitment to supporting Ministries, Departments and Agencies as implementation progresses in line with President Tinubu’s Renewed Hope Agenda.
