The Infrastructure Concession Regulatory Commission (ICRC) has described the signing of the concession agreement for the Akanu Ibiam International Airport, Enugu, as a major milestone in the Federal Government’s drive to modernise critical infrastructure through Public-Private Partnerships (PPPs).
According to the Commission, the concession is expected to significantly enhance economic activities in the South-East by strengthening air connectivity and positioning the region as a hub for trade, tourism and investment.
The PPP agreement was signed by the Ministry of Aviation and Aerospace Development and the Federal Airports Authority of Nigeria (FAAN) on behalf of the Federal Government, reflecting the increasing role of PPPs in infrastructure delivery under the administration of President Bola Ahmed Tinubu.
ICRC disclosed that the transaction was carried out under its regulatory guidance, ensuring full compliance with the national PPP framework. This process included the certification of business cases, due diligence, negotiations, approval by the Federal Executive Council, and legal vetting by the Federal Ministry of Justice, in line with the ICRC Establishment Act.
Speaking on the development, the Director-General of ICRC, Dr. Jobson Oseodion Ewalefoh, said the signing signals Nigeria’s readiness to deepen private sector participation in infrastructure development. He noted that the agreement marks the commercial close of the project and paves the way for full implementation.
Dr. Ewalefoh explained that the concession would enhance the airport’s role as a vital gateway to the South-East, improving domestic and international connectivity while supporting economic growth across the region.
He added that the project demonstrates the Federal Government’s commitment to unlocking private capital, improving service delivery and ensuring the long-term sustainability of strategic national assets in line with global best practices.
The ICRC boss further stated that the Enugu Airport concession aligns with the Commission’s efforts to streamline PPP processes, strengthen inter-agency collaboration and accelerate project delivery nationwide.
Dr. Ewalefoh commended the Governor of Enugu State, Dr. Peter Ndubuisi Mbah, for his commitment to positioning the state as a major economic destination, and urged other state governments to emulate subnational leaders who are leveraging PPPs to drive development.
He also praised the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo, FAAN, and other transaction partners for their roles in achieving commercial close, while reaffirming ICRC’s commitment to supporting Ministries, Departments in line with the Federal Government’s Renewed Hope Agenda.