The Infrastructure Concession Regulatory Commission, ICRC, has described the signing of the concession agreement for Akanu Ibiam International Airport, Enugu, as a major boost for the economy of the South-East.

 

 

Dr Jobson Ewalefoh, Director-General, ICRC, in a statement on Sunday in Abuja, described the agreement as a milestone in Federal Government efforts to modernise national infrastructure through Public-Private Partnerships, PPPs.

 

Ewalefoh said 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.

 

 

He said it underscored the growing momentum of PPPs as a central pillar of infrastructure delivery under President Bola Tinubu’s administration.

 

According to Ewalefoh, the transaction was undertaken under the regulatory guidance of the ICRC, which ensured compliance with the national PPP framework, which included the certification of the Business Cases and due diligence.

 

 

“It also included negotiations, approval by the Federal Executive Council and vetting of the Concession Agreement by the Federal Ministry of Justice, before the contract was executed, in line with the ICRC Establishment Act.”

 

Ewalefoh described the signing as a strong signal of Nigeria’s readiness to deepen private sector participation in infrastructure development.

 

He said the transaction marked the project’s commercial close and sets the stage for full implementation in the coming phases.

 

 

“This concession will strengthen the airport’s role as a vital gateway for the South- East states by enhancing connectivity and providing essential links to domestic and international destinations—supporting tourism, trade and broader economic growth across the region.

 

“The concession demonstrates the Federal Government’s resolve to unlock private capital, improve service delivery, and reposition strategic national assets for long-term sustainability in line with global best practice,” he said.

 

Ewalefoh noted the Enugu Airport concession aligned with ICRC’s ongoing efforts to streamline PPP processes, strengthen inter-agency collaboration, and accelerate project delivery.

 

 

According to him, this will have far-reaching implications for economic expansion across all sectors and regions of the country.

 

He added that as Nigeria’s PPP regulator, ICRC provided regulatory guidance and transaction assurance to ensure the process aligned with established PPP frameworks, safeguards value for money, and strengthens investor confidence.

 

Ewalefoh commended Gov. Peter Mbah of Enugu State for his relentless efforts and strategic commitment to positioning the state as a key economic destination, noting that such proactive leadership and sustained engagement were critical to delivering transformational infrastructure outcomes.

 

He urged other state governments to emulate the growing example set by subnational leaders such as Mbah’s counterparts in Ondo, Cross River and Lagos states, among others.

 

“These state governments are leveraging PPPs to attract investment, accelerate infrastructure delivery, and drive inclusive economic growth in their states.”

 

Ewalefoh also commended the Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, for his leadership and instrumental role in driving reforms and advancing private sector participation in the aviation sector.

 

He also commended FAAN and all transaction partners for reaching commercial close, reaffirming ICRC’s commitment to supporting Ministries, Departments and Agencies as implementation progressed in line with President Bola Tinubu’s Renewed Hope Agenda.