Port Harcourt Airport Concession Will Cut Government’s Losses – Keyamo
By Stella Enenche, Abuja
The Federal Government will no longer have to prop up loss-making airports with revenues from profitable ones once the concession of Port Harcourt International Airport takes effect, the Minister of Aviation and Aerospace Development, Festus Keyamo, has said.
Keyamo spoke on Thursday in Abuja at the signing of the concession agreement with Port Harcourt Airport Company Limited.
He said the arrangement would attract private investment, improve airport operations and unlock the commercial potential of the facility.
The minister explained that government lacked the resources to efficiently operate and expand all airports.
“Some of our airports are being run at a loss. We make so much money from some of our primary airports, and most of those profits are ploughed into running some of the other airports that are run at a loss,” he said.
Keyamo said President Bola Tinubu directed that workers’ welfare must be protected, with no job losses and existing conditions of service maintained.
“President Bola Ahmed Tinubu was very concerned about that, that no worker should lose his job. The conditions of service should remain the same,” he said.
He disclosed that the government spent several months negotiating with aviation unions before securing their agreement to the concession.
He added that the Infrastructure Concession Regulatory Commission assessed the investors’ financial capacity and experience before approving the arrangement.
Speaking for the concessionaire, the Group Executive of R28 Holdings, Mr. Eyo Asuquo, pledged to upgrade the airport to international standards, retain existing workers and create more jobs.
“As we develop the airport into a city, there will be need to upscale and employ more people,” he said.
Asuquo also unveiled plans to make Port Harcourt an aviation hub for the Gulf of Guinea, with improved international connections.
“Our dream is that Port Harcourt International Airport will one day, and very soon, have a flight from Port Harcourt to Haiti. And Port Harcourt International Airport will be the hub for the Gulf of Guinea,” he said.
He added that the company would open investment opportunities to other interested investors and create value for workers, government and the host community.
