The Federal Executive Council (FEC) has approved the change of nomenclature of the Federal Ministry of Aviation to the Ministry of Aviation and Aerospace with immediate effect.
This was revealed by the special adviser (media) to the minister of Aviation, Dr James Odaudu, in a statement on Thursday.
He said the new nomenclature is in line with the nature of the sector, being under the exclusive management and regulation of the federal government.
Also, the statement added that the concession of the Nnamdi Azikiwe International Airport (NAIA), Abuja, and Mallam Aminu Kano International Airport (MAKIA), Kano has been approved by the Council.
It further stated that, “following a thorough and comprehensive evaluation process that commenced 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.
“The consortium, composed of The Corporation American Airports, Mota Engil Africa, and Mota Engil Nigeria, is globally recognized for its superior technical expertise in the design, construction, management, and operation of infrastructure.
“The Corporation American Airports, a New York Stock Exchange (NYSE) listed airport operator, has presence across three continents, managing 53 airports in six countries and serving approximately 82.4 million passengers in 2019.”
The statement added that, “the concession of NAIA and MAKIA will considerably enhance the operational efficiency and profitability of these airports, repositioning them to operate optimally and competitively.
“This agreement, under a Public-Private Partnership arrangement, will be effective for 20 years for NAIA and 30 years for MAKIA.
“In addition, the Corporacion American Airport Consortium is committed to making upfront payments of USD 7 million for NAIA and USD 1.5 million for MAKIA. During the concession period, total projected nominal revenues accruable from the combined Concession of NAIA and MAKIA exceed $4 billion United States Dollars. Over 70 per cent of these projected revenues will be payable to the Federal Airports Authority of Nigeria (FAAN), thereby generating additional revenue sources for the Federal Government.”