IFC to advise Nigeria on aviation infrastructure development

The Federal Ministry of Aviation and Aerospace Development has received a proposal from the International Financial Corporation (IFC) to serve as a Transaction Advisor for its ambitious infrastructure development initiatives.

The IFC, a member of the World Bank Group, is a global leader in Public Private Partnerships (PPPs) advisory, with a proven track record of delivering successful transactions in various sectors and regions.

The Minister of Aviation and Aerospace Development, Festus Keyamo SAN, welcomed the proposal, saying it aligned with his key performance indicators (KPIs) of improving infrastructure through PPPs.

He said he would form a technical team to engage in comprehensive discussions with the IFC and the heads of agencies under his ministry.

The minister outlined his visionary 30-year master plan to transform Nigeria’s airports into airport cities, establishing a hub to serve the West Africa region and the wider global market.

He also expressed his desire to establish a world-class Maintenance, Repair, and Overhaul (MRO) facility, strategically positioned to cater to the needs of West and Central Africa. He said these initiatives would enhance aviation capabilities on the continent and boost revenue generation for the ministry.

The IFC’s proposal is a significant step towards supporting the sustainable development of Nigeria’s aviation sector.

The collaboration seeks to create a conducive environment for private investment, fostering growth and positioning Nigeria as a pivotal player in the global aviation landscape.