Nigeria’s Ministry of Aviation and Aerospace Development said the government signed a concession for Jeremiah Obafemi Awolowo International Airport in Omagwa, Port Harcourt. The ministry said the deal would bring private capital and expertise to develop and manage the airport, as part of broader efforts to address operating losses across several airports.
The agreement was signed in Abuja on Nov. 12, 2026, with Aviation Minister Festus Keyamo leading the government delegation. The ministry said President Bola Ahmed Tinubu and the Federal Executive Council approved the deal.
The ministry described the concession as a way to bring private financing and expertise into airport infrastructure and management. Eyo Asuquo, whom the ministry identified as a director of R28 Holdings speaking for the concessionaire, said the operator would use technical expertise and financial resources to develop and manage the airport.
Voice of Nigeria, Vanguard and The Guardian reported a 30-year term. That duration remains unverified in the ministry's announcement, which did not specify how long the agreement lasts. The ministry also gave no investment amount, revenue-sharing arrangement or work timetable.
The ministry said Tinubu instructed officials to protect aviation workers' welfare and job security. BusinessDay, Premium Times and Channels Television reported that union representative Ben Nnabue said labor groups endorsed the agreement after receiving assurances that workers would not lose their jobs. The public announcement did not explain how those protections would be implemented.
The ministry did not identify the concessionaire by its registered name. Premium Times and Channels Television named it PH Airport Limited, while The Guardian and Vanguard used Port Harcourt Airport Company Limited. The ministry's announcement did not include the signed agreement.
Nigeria's Infrastructure Concession Regulatory Commission said earlier efforts to bring private operators into the Port Harcourt and Enugu airports failed to attract investors, while airport concession projects in Lagos, Abuja and Kano drew interest.
Vanguard alone reported that the agreement provides for performance reviews every five years and allows the government to take back the airport if the concessionaire fails to meet required standards.
