Nigeria hands Port Harcourt airport to private firm for 30 years
Port Harcourt Airport Company Ltd. will run the Rivers State airport under a concession agreement signed by the Federal Government.
Port Harcourt Airport Company Ltd. has taken over the Jeremiah Obafemi Awolowo International Airport in Port Harcourt, Rivers State, under a 30-year concession from the Federal Government. Officials say the deal is meant to ease the cost of running airports that lose money and to draw private capital into the aviation sector.
Festus Keyamo, Minister of Aviation and Aerospace Development, said the signing opens a new phase in the government's plan to bring private money into airport infrastructure. The concession is also expected to improve how selected airports across the country are managed.
The operator will run the airport for three decades. The government has assured workers that their jobs are secure under the agreement.
Why it mattersWorkers at the airport keep their jobs under the new operator, and the private firm now carries the airport's running costs for 30 years.