AviationHeadlinesNews Delta seeks N100m annual revenue from airport concession By maritimemag February 24, 2021 ShareTweet 0 Visits for this story : 10 Delta seeks N100m annual revenue from airport concession Chinazor Megbolu Delta State is seeking to make N100 million annual revenue from airport concession. The State Governor, Dr. Ifeanyi Arthur Okowa during the week, contracted the budding Asaba International Airport out to the Asaba Airport Company Limited (AACL), which would remit N100 million annually to the coffers of the Delta State government. The State government also hinted the airport AACL will have to remit N100 million in the first phase of the agreement but will increase the amount in the second phase. Delta State also hinted AACL shall pay an upfront of N1 billion to the State government within the first 15 days of operation after the deal has been signed. During the signing of the Memorandum of Understanding (MoU) at the airport venue in Asaba, Okowa averred that the development would scale up the Internally Generated Revenue (IGR) base of the state. He also added that the project would provide employment opportunities and enhance better service delivery. Okowa, however, decried the airport was downgraded despite the effort of his predecessor, Dr. Emmanuel Uduaghan to complete it. “Unfortunately, the vision suffered a major setback when the airport was downgraded to a Category 3 airport by the Nigerian Civil Aviation Authority (NCAA) just few months before my administration came into being. “That meant the airport could only accommodate smaller aircraft such as the Q400 and DASH 8. In the face of an economic recession at the time, we were confronted both with the challenge of upturning the downgrade and turning the airport into a model economic platform that is self-sustaining through a robust public/private partnership,” Okowa said. He explained that the concessionaire shall undertake the development of Mandatory Capital Projects, to be completed within a period of three (3) years from the effective date of the transaction. The Delta State chief executive maintained that the Mandatory Capital Projects are; Airport/Terminal Facility, Cargo Facility, Maintenance, Repair and Operations (MRO) Facility, Tank Farm Facility, Industrial Park and Office Facility, and Hotel and Conference Facility © 2021, maritimemag. All rights reserved.