The Federal Government of Nigeria is targeting $4 billion revenue (about N1.843 trillion) from the ongoing concession of the Nnamdi Azikiwe International Airport (NAIA) and the Mallam Aminu Kano International Airport (MAKIA).
This is contained in a statement from the Head of Press and Public Affairs, Federal Ministry of Aviation, Oluseyi Odutayo, yesterday about the ongoing Nigeria Airport Concession Programme (NACP).
The ministry which seeks the cooperation of Nigerians towards the successful concession of the major airports highlighted the expected gains of the exercise to include the projected nominal revenues from the combined concession of NAIA and MAKIA to exceed $4 billion United States Dollars.
With over 70% of the projected revenues payable to the Federal Airports Authority of Nigeria (FAAN), the government will benefit from a substantial revenue stream that can be utilised for various developmental projects.
The aviation ministry said this infusion of private sector investment and the resulting financial benefits will enable Nigerians to implement much-needed upgrades to airport infrastructure, technology, and services.
The statement also provided update on the programme with the successful bidder pledging $8.5m upfront payment for the Abuja and Kano airports.
It said: “Under the concession agreement for Nnamdi Azikiwe International Airport (NAIA) and Mallam Aminu Kano International Airport (MAKIA), the successful bidder, Corporacion America Airport Consortium, (a New York Stock Exchange Company), has committed to make upfront payments of USD 7 million for NAIA and USD 1.5 million for MAKIA.
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