The Federal Executive Council has approved the concession of the Kashimbila Integrated Cargo and Agro-Allied Airport in Taraba State under a Public-Private Partnership (PPP) arrangement, with an expected revenue boost of N4 trillion.
The deal, approved under the regulatory guidance of the Infrastructure Concession Regulatory Commission (ICRC), spans the agriculture, water resources, and aviation sectors.
According to a statement issued by Ifeanyi Nwoko, Acting Head of Media and Publicity in Abuja notes that the project includes upgrading an airstrip in Kashimbila into a Cargo and Agro-Allied Airport.
The project also includes over 3,000 hectares of farmland, fish farming facilities, and a livestock ranch.
Jobson Ewalefoh, Director General of the ICRC expressed gratitude to President Bola Tinubu for his swift approval, highlighting how the facilities will enhance Nigeria’s capacity to export agricultural products.
“The processes for this project were stated and completed in six months in fulfilment of the charge given to me by His Excellency President Bola Ahmed Tinubu to accelerate PPP projects’ procurement.
“The Kashimbila project includes the concession of over 3,000 hectares of farmland for irrigation farming, the upgrade of the airport for agro-cargo services, and the development of an aerotropolis and Free Trade Zone with business parks, logistics hubs, and residential areas.
“It is located in Taraba State, Nigeria and aims to enhance agricultural logistics, improve market access, and stimulate economic development,” the statement quoting the DG read.
Reeling out the impact of the Kashimbila project, Ewalefoh said that the concession will, among other things, boost agricultural productivity by enabling year-round irrigation farming, create employment opportunities, attract investment in agribusiness and stimulate local and national economies
He said that with the Kashimbilla project, regional integration will be enhanced as Taraba state will be connected to national and international markets, facilitating trade, and thousands of direct and indirect jobs will be created.
Ewalefoh revealed that the project is projected to generate N4.1 trillion in revenue from various sources over the concession period.
He also expressed appreciation to the relevant ministries for their contributions in facilitating successful inter-agency collaboration to advance the President’s Renewed Hope Agenda.
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