Nigeria’s Airports Set for Revamp: President Tinubu’s Infrastructure Fund Paves the Way

Major Nigerian airports are soon to wear a new look with the kick of their revitalization and modernization.

This is being made possible with the recent approval of President Bola Tinubu Renewed Hope Infrastructure Development Fund to facilitate effective infrastructure development across the pivotal areas of agriculture, transportation, ports, aviation, energy, healthcare, and education in Nigeria.

The aviation enhancement, according to a statement by Ajuri Ngelale, Special Adviser to the President, Media and Publicity, through targeted investments and infrastructure upgrades, the major airports will undergo comprehensive refurbishment, including improvement in terminal facilities, runway expansions, and the implementation of cutting-edge technologies to enhance safety and operational efficiency.

He noted that, the RHIDF investment in critical national projects will, among other things, promote growth; enhance local value-addition, create employment opportunities, and stimulate technological innovation and exports.

The Fund is also to identify appropriate approaches in its investment strategy, such as direct project financing through budgetary allocations and SPVs; co-financing (public-private partnerships) with key institutions, multilateral development institutions, as well as equity investments.

Also approved by President Tinubu as contained in the statement is the absorption of the Presidential Infrastructure Development Fund (PIDF)  into the new Renewed Hope Infrastructure Development Fund (RHIDF).

The aim is to successfully eliminate identified bureaucratic inefficiencies, enhance domestic and external counterpart funding opportunities, and expedite project delivery timelines for the benefit of the Nigerian people.

“As the major infrastructural enabler of his global push for foreign direct investment across sectors, the President has further directed that the projects funded under the Renewed Hope Infrastructure Development Fund (RHIDF) reflect an equitable national spread, such that every Nigerian is impacted by the initiatives of his administration in the most qualitative fashion possible”.

The RHIDF on agricultural infrastructure and food security, is targeted at the development of robust agricultural infrastructure networks. 

On ports revitalization, the strategic thrust revolves around the rejuvenation of port facilities and associated infrastructure to streamline operations and enhance the ease of doing business. 

While on the road infrastructure, some of the strategic projects to receive attention include the Lagos-Calabar Coastal Road, the Sokoto-Badagry Road, among other key road projects across the nation. 

On rail infrastructure, Lagos-Kano and Eastern rail lines are among the projects to be prioritized by the Fund. 

“The aim is to ensure the modernization of transportation networks, fostering interconnectivity between key urban centres, and facilitating the movement of goods and people with greater speed and reliability”.

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