FG lures airport investors with low production costs, premium on lands

The Federal government has promised low premium and ground rent on its land and low cost of production to investors looking for opportunities in Nigerian airports managed by the Federal Airports Authority of Nigeria (FAAN),

Other benefits listed for airport investors include ease of doing business at the airports, favourable terms of engagement, easy access to staff for quick solutions to challenges, competitive price and high earnings on investment.

Speaking at the maiden edition of the Federal Airports Authority of Nigeria (FAAN) National Aviation Conference (FNAC) with the theme: ‘Advancing the Frontiers of Possibilities for Safe, Secure and Profitable Air Transport’, in Abuja on Thursday, Hycienth Ngwu, general manager, Business Development, FAAN said airport investors will also have easy access to AfCFTA Preferential market over non-members.

Ngwu also hinted that duly imported products from member states receive the same treatment as domestic products and investors can easily access the N50bn Export Expansion Facility Programme (EEFP), implemented by the FMITI and the N2.3 trillion National Economic Sustainability Plan for export-oriented businesses for greater economic growth.

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He added that “Investors can also access the N1bn Nigeria-Africa Trade Investment Programme (NATIPP) jointly launched by Nigeria Export-Import Bank (NEXIM), African Export-Import Bank (AFREXIM) and the Nigerian Export Promotion Council (NEPC)One Product One State Initiative of the National Committee on Export Promotion (NCEP) can easily be activated and implemented.”

He revealed some investment openings in Nigerian airports including Aerotropolis (Airport city), shopping and mixed-use malls, office complexes, estates, car parks, land and rail transport, hotels, resorts, recreational and amusement facilities, aircraft hangers (Maintain, Repair and Overhaul), aviation equipment leasing companies, jet bridges, agro-allied and cargo facilities, warehouse services, aviation fuel depots, fuel hydrant system, waste and water management, lounges, bank pavilion, free trade centres, terminal management, advertisement and branding, among others.

Ngwu said FAAN intends to make airports in the States economically viable airport will make the communities within the airports also economically viable and the airport a veritable business hub in the state.

“We also want the state airports to be an engine for wealth creation through well-paying job opportunities and good sources for VAT and other tax generation for the states.

“We want to partner with you for enhanced efficiency and economic growth. We want to move from “I did it” to ‘We did it” in the spirit of the cooperation, collaboration and symbiotic relationship and synergy,” he said.

Hadi Sirika, minister of aviation, represented by Musa Nuhu, director-general of NCAA, said the aviation land map created by Hadi Sirika, the minister of aviation has created opportunities for investors to key into.

Sirika said the federal government is looking to unbundle the regulations to make it easy for people to invest and ensure that going forward, entry requirements are made easier for investors.