By South East Business and Investment Summit Group ©2025
INTRODUCTION
The South East Business and Investment Summit Group (SEBIS), is a public private sector partnership
group established to unlock and catalyse the businesses and investment opportunities in the South
East Nigeria. SEBIS aims to create an advocacy platform and for connection of businesses, investors,
policymakers and other stakeholders, to share ideas and explore opportunities for growth and development
of South East Nigeria. Part of the Group’s focus is in championing the advocacy for equitable economic
development through stakeholder mobilisation across the South East region. With the South East
contributing 14.5% to Nigeria’s GDP ($63 billion), SEBIS’ efforts aim to galvanise thought leadership,
resources, and policy influence to drive growth and development of South East.
The Akanu Ibiam International Airport (AIIA) Enugu, owned by the Federal Government, is the only
international gateway to the South East Region of Nigeria. The South East is estimated to have over
29.96 million residents and 3.8 million small and medium-sized enterprises (SMEs) as well as other large
corporate and public institutions. AIIA holds immense potential to enhance socio-economic growth and for
stimulating regional and national connectivity. AIIA as a critical infrastructure, is therefore very vital and
highly valued by the people of South East as its development can address long-standing deficits and unlock
the region’s economic potential, contributing significantly to Nigeria’s GDP.
Currently, AIIA, operates at over twice its 500,000 -passenger capacity per annum and it holds the key to
unlocking the South East’s $12 billion intra-African trade, which is 40% of the region’s economic activity. It
is a widely held view that expanding the airport infrastructure to accommodate 2 million passengers by 2027
could unlock an additional $5-7 billion for the South East economy, supporting the African Continental Free
Trade Area’s (AfCFTA) goal of boosting intra-African trade by 52%.
For most South Easterners, the airport, symbolises regional identity and global access and all critical
stakeholders subscribe to quick and sustainable infrastructure development of the airport to stimulate
business and investment into South East from across the World.
AIIA CONCESSIONING PROCESS:
The recent publications in some national newspapers about a purported Concessioning of Akanu Ibiam
international Airport (AIIA) on 11th of April, 2025, was received with shock by the organised business
sector and the people of South East because of the way the news was captioned and conveyed. According to
the news report:
- “The federal government is currently finalising negotiations with Aero Alliance Consortium to
concession the Akanu Ibiam International Airport (AIIA) in Enugu for an 80-year period.” - The news report went further to state that it had obtained a copy of the draft contract and, quoting
clauses from the draft contract, which stated that the draft made:
“Provisions for airport upgrades, the handling of existing Federal Airports Authority of Nigeria (FAAN)
staff, revenue-sharing, among others,” - And that it provided for a concession period of 80 years, with an option for 20 years extension.
Based on this report and subsequent effort by the Minister for Aviation, Mr. Festus Keyamo SAN, to strongly
denying the story, The South East Business and Investment Summit Group (SEBIS) noting the critical nature of AIIA to businesses and socio-economic activities in the South East, set up an eight-man Investigative
Committee to among other things: - Confirm the authenticity of media reports about selecting a concessionaire for AIIA.
- Obtain and study the draft Concession Agreement, if already finalised.
- Find out the reasons for the Federal Government’s decision to concession AIIA for the reported duration
and whether there are similar plans to concession other major airports in Nigeria up to that duration of
time. - Find out details about the Aero Alliance Consortium, the persons behind the group, and why they are the
preferred concessionaires. - Find out the beneficial and adverse impacts of the proposed AIIA concession, among others.
SEBIS OBSERVATIONS:
In a report submitted by the Dr. Chukwuma Katchy CP (Rtd.), led Committee after their thorough
investigation, and further to the relevant amendments and approval by SEBIS, we hereby observe as follows: - That Infrastructure concession is a global tool of Public-Private Partnership (PPP) for building,
upgrading and maintaining key infrastructures and facilities. - That in Nigeria, the bulk of the Federal Government owned infrastructure are at an advanced stage
of decay including the Akanu Ibiam International Airport and the inability of Government to invest
enough infrastructure fund has made them to finally determined that the most beneficial solution was to
concession the international airports in Nigeria. - That the concession of AIIA is an unsolicited proposal from a private company, and that the planned
concession being a work in progress, is yet to establish a concession tenure. - That despite the Aviation Minister’s firm denial of the reported 80-year concession tenure, the
subsequent Public Relations Consultant’s justification for extended concession tenure for AIIA, makes
SEBIS uncomfortable leading to further inquest on the transparency of the process. - That our investigation of the proposed concessionaire for AIIA, Aero Alliance Consortium, revealed
that this company was registered by CAC only on July 16, 2024 as a limited liability company (RC –
7706391). This shows that the company is less than one year old. - That Aero Alliance Consortium possible offshore partner, Arise Integrated Industrial Platforms Limited
(Arise IIP), is an infrastructure development group likely tied to the African Finance Corporation and
Afreximbank and is known for development of industrial parks and the like, but that it does not seem to
have a notable footprint in airport infrastructure development.
OUR RESOLUTION AND RECOMMENDATON
After given due consideration to the detailed SEBIS Committee Investigative report, on AIIA concession by
the Federal Government, SEBIS resolved and recommend as follows: - That SEBIS commends the Federal Government for proposing concession arrangements for Akanu
Ibiam International Airport as well as for other targeted airports in Port Harcourt, Lagos, Kano, and
Abuja. - That we support the proposed concession of AIIA because of the expected socio-economic benefits to
the South East region, but we strongly request that the concession of AIIA should be implemented in
accordance with the laws governing concession in Nigeria – principally the Infrastructure Concession
Regulatory Commission (ICRC) Act 2005 and ICRC Regulations 2014. - We call for transparency and due process in the concessioning of the Airport Infrastructure, applying
open bidding system that will ensure fair competition, a process that can attract renowned and credible
firms into the bidding process. - SEBIS urges the Federal Government to ensure that the tenure for the concessionaire of the AIIA is in
line with global practice and should not be different from the concession terms proposed for the other
airports, which we understand to range between 20 and 30 years.
3South East Business and Investment Summit Group ©2025 - That If, for any reason a distinctive concessioning arrangement becomes necessary for AIIA, there
should be widespread consultation with regional stakeholders before an agreement is finalised with the
concessionaire. - That the selection criteria be published on the ICRC website, prioritising concessionaires with over
5 years of airport management experience, $100 million investment capacity, and 70% local staffing
commitments, fostering public trust. - SEBIS advice that a 5-year socio-economic impact mandate plan be obtained from concessionaires,
targeting 15,000 direct jobs, $5 billion in SME trade facilitation, and 2 million passenger capacity by
2027, with annual ICRC and FAAN audits. - We demand for a multi-stakeholder selection committee with representatives from the ICRC, Ministry
of Aviation, South East Governors’ Forum, South East Caucus in the National Assembly, FAAN, South
East Stakeholders including South East Chambers of Commerce, South East Business and Investment
Summit Group etc. This will ensure a sustainable and harmonious concession operation, promote
transparency and conduce to an improved business environment. - We request the appointment of a SEBIS representative to the Project Delivery Team to enhance
transparency and regional oversight. - SEBIS thanks the Federal Government of Nigeria for its effort to rebuild South East region, including
the creation of the SEDC and the current effort to improve the iconic Akanu Ibiam International Airport
(AIIA) through a proposed concession plan.
Dr. Ifedi Okwenna is Executive Secretary SEBIS while Dr. Chukwuma Katchy CP (Rtd.) is Chairman, SEBIS AIIA Concession Investigative Committee
