The Nigerian Federal Government has transferred management of the Jeremiah Obafemi Awolowo International Airport in Rivers State to Port Harcourt Airport Company Ltd. for a thirty-year period. Nairametrics reports that the agreement was signed in Abuja on Thursday by Aviation Minister Festus Keyamo. The deal received final approval from President Bola Tinubu and the Federal Executive Council. This concession is a central component of the administration’s strategy to restructure the aviation industry by reducing the fiscal load on state resources.
Keyamo explained that the government currently uses profits generated by major gateways to subsidize airports that operate at a loss. He stated that this cross-subsidization creates unnecessary financial pressure on the broader aviation sector. The minister noted that the state lacks the funds to develop commercial and non-aeronautical revenue streams at these facilities. He argued that private investors have the capacity to expand operations and unlock the commercial potential of these airports, thereby improving overall efficiency.
The minister clarified that this policy is not new, noting that previous administrations attempted similar concessions but faced legal challenges from aviation unions. To prevent such disputes, the current government engaged with unions to address worker concerns and protect their welfare during the transition. Eyo Asuquo, representing the concessionaire, assured staff that the agreement would generate new jobs rather than cause layoffs. He pledged to invest heavily in infrastructure to match international standards found in Europe and the United States.
This agreement follows a similar concession signed in January 2026 for the Akanu Ibiam International Airport in Enugu. Keyamo revealed that the ministry has also received proposals for Benin Airport and Yola International Airport. These moves signal an intent to extend private sector participation across Nigeria’s aviation network. The broader reform agenda seeks to boost regional connectivity and enhance the country’s competitiveness in the global aviation market by attracting private investment.