The Federal Government has established a special committee within the Infrastructure Concession Regulatory Commission (ICRC) and the Ministry of Aviation to facilitate investment in Nigeria’s aviation sector through public-private partnerships (PPPs).
The initiative aims to attract private capital to address infrastructure gaps and stimulate economic growth.
This is in a statement by Ifeanyi Nwoko, ICRC’s Acting Director of Media and Public Affairs, issued on Tuesday following a meeting between the ICRC Director-General, Dr. Jobson Oseodion Ewarefo, and the Minister of Aviation, Festus Keyamo, in Abuja on Monday. It became clear.
The statement highlighted Dr. Ewarefo’s views on the role of the aviation sector in economic growth and referred to the ICRC’s Task Force on Accelerating PPP Investments. In response, the Minister established a similar task force to work with the ICRC on the expedited implementation of infrastructure projects.
“To unlock the economic potential of the aviation sector through investment in public-private partnerships (PPPs), the federal government has established a task force at the Infrastructure Concession Regulatory Commission (ICRC) and the Ministry of Aviation,” the statement said. There is. Partially.
The statement revealed that the meeting focused on leveraging new policies and leadership to overcome past challenges in the Nigerian aviation industry, particularly those that led to PPP-related litigation. did.
The report highlighted renewed optimism that legal issues could be resolved through a coordinated approach between the ICRC and the Ministry of Aviation, allowing for smoother project implementation.
Mr. Ewarefo noted that like many countries, Nigeria is struggling to finance infrastructure, but the government’s focus on PPPs under the “New Hope Agenda” is aimed at addressing these gaps. The aim is to attract private investment to address issues and foster growth in the sector.
Further insights The statement highlighted the insights of ICRC Director-General Dr. Jobson Oseodion Ewarefo on the potential for investment in Nigeria’s aviation sector.
He cited successful international models, such as the $575 million funding of Britain’s Heathrow and Dakar airports, which attracted £16 billion of private investment between 2003 and 2019, to illustrate Nigeria’s opportunities. pointed out.
Ewalefo stressed that Nigeria, with a population of over 200 million people, has the potential to become a strong hub for international travel if the right infrastructure is in place. He stressed the need for close cooperation between the ICRC and the Ministry of Aviation to ensure effective implementation of projects, noting that a robust aviation sector can foster broader economic growth.
He highlighted recent achievements, including the signing of the Cape Town implementation policy and the resolution of issues with the UAE that led to the resumption of Emirates flights. Mr. Ewarefo stressed that these actions are critical to attracting investment and positioning Nigeria as a competitive player in the aviation sector.
The statement stressed that SAN Aviation Minister Festus Keyamo’s top priority is to facilitate pending PPP projects, with a particular focus on initiatives such as cargo terminals. He emphasized the importance of cooperation with the ICRC for the timely and efficient implementation of projects.
Mr. Keyamo commended the ICRC for its proactive stance, saying that this joint effort will transform the aviation sector into a key driver of economic growth in Nigeria and make Nigeria a key destination for private investment and regional connectivity. He emphasized that this is the purpose.
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