The Infrastructure Concession Regulatory Commission (ICRC) has hailed the signing of the concession agreement for Akanu Ibiam International Airport, describing it as a significant milestone in the Federal Government’s ongoing efforts to deploy Public-Private Partnerships (PPPs) to modernise critical national infrastructure, and a major boost for the South-Eastern economy.

The ICRC said the agreement, signed by the Ministry of Aviation and Aerospace Development and the Federal Airports Authority of Nigeria (FAAN) on behalf of the Federal Government, underscores the growing momentum of PPPs as a central pillar of infrastructure delivery under the administration of President Bola Tinubu.

The transaction was undertaken under the regulatory guidance of the ICRC, which ensured compliance with the national PPP framework, including the certification of the business cases, due diligence, 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.

Commenting on the development, the Director General of ICRC, Dr. Jobson Ewalefoh, described the signing as a strong signal of Nigeria’s readiness to deepen private sector participation in infrastructure development, noting that the transaction marks 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,” he said.

He added that 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.

The ICRC DG said the Enugu Airport concession aligns with the Commission’s ongoing efforts to streamline PPP processes, strengthen inter-agency collaboration, and accelerate project delivery, with far-reaching implications for economic expansion across all sectors and regions of the country.

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

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

He urged other state governments to emulate the growing example set by subnational leaders—such as the Governors of Enugu, Ondo, Cross River, and Lagos States—who are leveraging Public-Private Partnerships to attract investment, accelerate infrastructure delivery, and drive inclusive economic growth in their states.

He 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, as well as the Federal Airports Authority of Nigeria (FAAN) and all transaction partners for reaching commercial close, reaffirming ICRC’s commitment to supporting Ministries, Departments, and Agencies as implementation progresses in line with President Tinubu’s Renewed Hope Agenda.