With immediate effect, the Federal Executive Council (FEC) has given its approval to rename the Federal Ministry of Aviation to the Ministry of Aviation and Aerospace. This change in nomenclature will take place as soon as possible.
In a statement that was released on Thursday, Dr. James Odaudu, who serves as the minister of Aviation’s special adviser (media), revealed this information.
According to him, the new naming convention is consistent with the characteristics of the industry, which are that it is exclusively under the management and regulation of the federal government.
In addition, the statement mentioned that the Council had given its approval for the concession of the Nnamdi Azikiwe International Airport (NAIA) in Abuja and the Mallam Aminu Kano International Airport (MAKIA) in Kano.
In addition to this, it was stated that “following a thorough and comprehensive evaluation process that began with the Request for Qualification (RFQ) advertised in local and international media on 16th August 2021, and subsequent rigorous evaluation of technical and financial bids, coupled with due diligence visits conducted from 27th – 29th December 2022 and 9th – 10th January 2023, the Corporacion American Airport Consortium has emerged as the preferred bidder.” This was stated in the document.
“The consortium, which is made up of The Corporation American Airports, Mota Engil Africa, and Mota Engil Nigeria, is widely regarded as having superior technical expertise in the planning, construction, management, and operation of various types of infrastructure around the world.
The Corporation American Airports is an airport operator that is listed on the New York Stock Exchange (NYSE). They have a presence on three continents, manage 53 airports across six countries, and expect to serve approximately 82.4 million passengers in 2019.
In addition, the statement explained that “the concession of NAIA and MAKIA will significantly enhance the operational efficiency and profitability of these airports, repositioning them to operate optimally and competitively.”
This agreement, which is being carried out as part of a Public-Private Partnership, will remain in effect for the duration of 20 years for NAIA and 30 years for MAKIA.
“In addition, the Corporacion American Airport Consortium has committed to making upfront payments totaling USD 7 million for NAIA and USD 1.5 million for MAKIA. The total projected nominal revenues accruable from the combined Concession of NAIA and MAKIA are expected to be greater than $4 billion United States Dollars during the period of the concession. To generate additional revenue sources for the Federal Government, more than seventy percent of these projected revenues will be payable to the Federal Airports Authority of Nigeria (FAAN).