NEWS

Taraba Cargo Airport to Generate N4.1 Billion as FG Seals Major Concession Deal

A public-private partnership agreement for the concession of Taraba State’s Kashimbila Integrated Cargo/Agro-Allied Airport has been approved by the Federal Executive Council.

Approved under the regulatory guidance of the Infrastructure Concession Regulatory Commission, the project cuts across agriculture, water resources, and aviation sectors.

A statement issued on Friday by the acting head of media and publicity, Ifeanyi Nwoko, said the project features the upgrade of an airstrip in Kashimbilla to a cargo/agro-allied airport.

It also has a combination of over 3,000 hectares of farmland, fish farming facilities, and a ranch for livestock farming.

Giving insights into the project, the Director General of the ICRC, Jobson Ewalefoh, thanked President Bola Tinubu for the speedy approval he gave to the project, whose facilities increase Nigeria’s potential to export agricultural products.

The processes for this project were stated and completed in six months in fulfillment of the charge given to me by His Excellency President Bola Ahmed Tinubu to accelerate PPP projects’ procurement.

“The Kashimbila project includes the concession of over 3,000 hectares of farmland for irrigation farming, the upgrade of the airport for agro-cargo services, and the development of an aerotropolis and Free Trade Zone with business parks, logistics hubs, and residential areas.

Sponsored

“It is located in Taraba State, Nigeria, and aims to enhance agricultural logistics, improve market access, and stimulate economic development,” the statement quoting the DG read.

Reeling out the impact of the Kashimbila project, Ewalefoh said that the concession will, among other things, boost agricultural productivity by enabling year-round irrigation farming, create employment opportunities, attract investment in agribusiness and stimulate local and national economies through trade and exports.

He said that with the Kashimbilla project, regional integration will be enhanced as Taraba state will be connected to national and international markets, facilitating trade, and thousands of direct and indirect jobs will be created.

Ewalefoh disclosed that the project is expected to generate N4.1tn revenue from multiple sources during the concession period.

The DG thanked the relevant ministries for their efforts in ensuring the success of the inter-agency collaboration to achieve the renewed hope agenda of the President.

SPONSORED
Victor Alade

Recent Posts

Court Fixes July 2 For Trial Of 109 Foreigners Over Alleged Cybercrime

The Federal High Court in Abuja on Monday fixed July 2 for the trial of…

10 hours ago

FG Launches ₦300bn Series VII Sukuk As Investors Demand Grows

The federal government on Monday launched the ₦300 billion Sukuk Series VII in Abuja as…

11 hours ago

Court Adjourns Akpabio’s Contempt Case Against Natasha To May 13

The Federal High Court in Abuja on Monday adjourned the hearing of contempt allegations brought…

12 hours ago

Killings: Benue LG Declares Curfew Over Escalating Security Concerns

The Chairman of Gwer West Local Government Area in Benue State, Victor Ormin, has imposed…

12 hours ago

PDP Still Strong, Will Return In 2027 – BoT Chairman Wabara

Chairman of the Board of Trustees (BoT) of the Peoples Democratic Party (PDP), Senator Adolphus…

13 hours ago

PSC Issues Warning To Police Inspectors Over Alleged Promotion-Related Bribery

The Police Service Commission (PSC) has warned police inspectors scheduled for promotion against offering financial…

13 hours ago