The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this on Thursday in Abuja during the signing ceremony involving the Federal Government and Port Harcourt Airport Company Limited.
Keyamo said the agreement was designed to enhance airport operations, increase revenue generation and maximise the economic potential of the facility.
He explained that the government currently relies on revenue from profitable airports to support others operating at a loss, a situation he said had placed a financial burden on the aviation sector.
“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 other airports,” the minister said.
According to him, the concession received the approval of President Bola Tinubu and the Federal Executive Council, following efforts by successive administrations to introduce private sector participation in airport management.
Keyamo recalled that previous attempts to concession airports had encountered setbacks, largely due to opposition from labour unions and legal disputes involving the government.
He, however, said the latest agreement was concluded after extensive consultations with aviation unions, adding that their concerns were addressed before the deal was signed.
The minister also assured airport workers that the concession would not result in job losses or a deterioration in their existing conditions of service.
He said President Tinubu had specifically directed that workers’ welfare must remain a priority throughout the process.
“President Bola Tinubu was very concerned about that, that no worker should lose his job. The conditions of service should remain the same,” Keyamo said.
On the implementation of the agreement, the minister disclosed that the concessionaire would undergo performance assessments every five years to determine whether it was meeting its contractual obligations.
He warned that the Federal Government reserved the right to reclaim the airport if the operator failed to meet the agreed performance standards.
