FG Approves Concession of Taraba Agro-Allied Airport
The Federal Executive Council (FEC) has approved the concession of the Kashimbila Integrated Cargo/Agro-Allied Airport in Taraba, under a public-private partnership (PPP) arrangement.
A statement issued in Abuja on Friday by Ifeanyi Nwoko, Acting Head, Media and Publicity, Infrastructure Concession Regulatory Commission (ICRC), said that the projects were approved under the regulatory guidance of the ICRC.
The statement said the project cuts across agriculture, water resources, and aviation sectors. It said that on one hand, it featured the upgrade of an airstrip in Kashimbilla to a Cargo/Agro-Allied Airport.
“On the other hand, it has a combination of no fewer than 3,000 hectares of farmland, fish farming facilities and a ranch for livestock farming.”
The statement quoted Dr Jobson Ewalefoh, Director-General (D-G), ICRC, as commending President Bola Tinubu for quickly approving the project whose facilities are expected to enhance Nigeria’s agricultural export potential.
“The processes for this project were started and completed in six months, in fulfilment of the charge given to me by President Tinubu to accelerate PPP projects’ procurement.
“The Kashimbila project includes the concession of over 3,000 hectares of farmland for irrigation farming and the upgrade of the airport for agro-cargo services.
“It also includes the development of an aerotropolis and Free Trade Zone with business parks, logistics hubs and residential areas.”
The D-G said the project located in Taraba, aimed to enhance agricultural logistics, improve market access and stimulate economic development.
Ewalefoh said that the concession would, among other things, boost agricultural productivity by enabling year-round irrigation farming and create employment opportunities.
He said that the concession would also attract investment in agribusiness and stimulate local and national economies through trade and exports.
Ewalefoh said that with the Kashimbilla project, regional integration would be enhanced as Taraba would be connected to the national and international markets, facilitating trade, as thousands of direct and indirect jobs would be created. He said that the project was expected to generate N4.1 trillion in revenue from multiple sources during the concession period.
The D-G thanked the relevant ministries for their efforts in ensuring the success of the inter-agency collaboration to achieve the renewed hope agenda of President Tinubu. #FG Approves Concession of Taraba Agro-Allied Airport Yield Declines as Investors Bullish on Nigerian Bonds
