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FG forms task forces to enhance investment in Nigeria’s aviation

The Infrastructure Concession Regulatory Commission and the Ministry of Aviation have established task forces to promote investment in Nigeria's aviation sector through public-private partnerships.

The goal of this initiative is to attract private capital, tackle infrastructure challenges, and stimulate economic growth within the industry.

This information was revealed in a statement by Ifeanyi Nwoko, the Acting Head of Media and Publicity for the ICRC, which was released on Tuesday following a meeting between Dr. Jobson Oseodion Ewalefoh, ICRC Director General, and Aviation Minister Festus Keyamo in Abuja, as reported by Nairametrics.

Dr. Ewalefoh emphasized the crucial role of the aviation sector in driving economic growth and outlined the ICRC's task force aimed at accelerating PPP investments.

In response, the minister established a complementary task force to collaborate with the ICRC in order to swiftly execute key infrastructure projects in the sector.

The statement mentioned, "In its bid to unlock the economic potentials of the aviation sector through investment in Public Private Partnerships (PPPs), the Federal Government has established task forces in the Infrastructure Concession Regulatory Commission (ICRC), and the Ministry of Aviation."

The meeting aimed to leverage new policies and leadership to address past challenges in Nigeria’s aviation sector, particularly those resulting in PPP-related litigation, and expressed renewed optimism for resolving legal issues through coordinated efforts between the ICRC and the Ministry of Aviation to facilitate smoother project implementation.

Ewalefoh acknowledged Nigeria's funding challenges for infrastructure but emphasized the government’s focus on PPPs under the Renewed Hope Agenda to attract private investment and promote growth in the sector.

Insights from ICRC’s Director General, Dr. Jobson Oseodion Ewalefoh, on Nigeria’s investment potential in the aviation sector were highlighted, citing successful international models to showcase Nigeria’s potential for similar success.

He stressed that Nigeria could emerge as a leading hub for international travel if adequate infrastructure is developed and emphasized the necessity for close collaboration between the ICRC and the Ministry of Aviation to ensure effective project execution.

Recent achievements, including the signing of the Cape Town Convention Practice Direction and the resolution of issues with the UAE to facilitate the resumption of Emirates Airlines flights, were highlighted, stressing that these developments are vital for attracting investment and enhancing Nigeria’s competitiveness in the aviation sector.

The statement also noted that Aviation Minister, Festus Keyamo, prioritizes expediting pending PPP projects, particularly initiatives like cargo terminals, and underscored the importance of collaborating with the ICRC to ensure timely and efficient project delivery.

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