FG Shares Revenue Expectation From Taraba Airport After Concession Approval
- The FEC has approved the concession of the Kashimbila Integrated Cargo and Agro-Allied Airport
- The airport located in Taraba State concession is under a Public-Private Partnership (PPP) arrangement
- Government is looking at generating N4.1 trillion in revenue and also enhance agricultural logistics
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Federal Executive Council (FEC) has approved the concession of the Kashimbila Integrated Cargo and Agro-Allied Airport in Taraba State under a Public-Private Partnership (PPP) arrangement,.
Source: Getty Images
The concession is approved under the regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC), spans the agriculture, water resources, and aviation sectors.
According to a statement issued by Ifeanyi Nwoko, Acting Head of Media and Publicity in Abuja, the project involves upgrading an existing airstrip in Kashimbila into a fully functional Cargo and Agro-Allied Airport.
Additionally, it includes the development of over 3,000 hectares of farmland, fish farming facilities, and a livestock ranch.
Project plans and details
Jobson Ewalefoh, Director General of the ICRC, commended President Bola Tinubu for his prompt approval, emphasizing the project’s role in strengthening Nigeria’s agricultural export capacity.
Ewalefoh said:
“The processes for this project were initiated and completed within six months in fulfillment of the directive given to me by His Excellency, President Bola Ahmed Tinubu, to accelerate PPP project procurement."
Outlining the project’s scope, he noted that the initiative involves the concession of farmland for irrigation farming, the enhancement of airport facilities for agro-cargo services, and the establishment of an aerotropolis and Free Trade Zone. These developments will feature business parks, logistics hubs, and residential areas.
Located in Taraba State, the project is expected to significantly improve agricultural logistics, expand market access, and drive economic growth.
Ewalefoh highlighted the potential benefits, including increased agricultural productivity through year-round irrigation, job creation, and the attraction of agribusiness investments to stimulate both local and national economies, BusinessDay reports.
He added.
“The Kashimbila project will enhance regional integration by linking Taraba State to national and international markets, facilitating trade, and creating thousands of direct and indirect jobs."
Ewalefoh further disclosed that the project is projected to generate N4.1 trillion in revenue over the concession period from multiple income streams.
He expressed appreciation to the relevant ministries for their contributions in ensuring successful inter-agency collaboration, aligning with President Tinubu’s Renewed Hope Agenda.
FAAN resumes access gate fee payment at airport
Legit.ng reported the Federal Airports Authority of Nigeria (FAAN) has resumed the collection of access gate fees at the Nnamdi Azikiwe International Airport, Abuja effective from 8:30 a.m. on February 8, 2025.
This decision follows a two-week suspension period initiated on January 24, 2025, to mitigate disruptions caused by ongoing road construction within the airport vicinity.
In a public notice released via its official communication channels, FAAN expressed gratitude to the public for their cooperation during the temporary suspension.
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Source: Legit.ng
