Aerotropolis: Aviation Ministry woos Chinese Investor

Aviation Nigeria

Following the successful signing of the $500 million Loan Agreement to finance the construction of four new International Airport terminals in Nigeria, the Aviation Ministry has now turned its attention towards the drive to woo foreign investors to buy into the Aerotropolis project.

Addressing the Nigeria-China Investment Forum in Beijing, Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mr George Uriese expressed the desire of the Ministry to partner with the Chinese Investment Community for the development of Aerotropoli in the Nigerian Cities of Abuja, Lagos, Port Harcourt and Kano.

Uriesi said the Aerotropoli hold tremendous promise of good return on investment for any investor, and called on the Chinese investors to take advantage of the huge opportunities which the initiative presents to boost the expansion of their business interest on the African continent.

“We want to partner with you as we develop our Aerotropoli in Lagos, Abuja, Port Harcourt and Kano. There is so much more that Chinese companies can do to leverage our drive to position aviation as pivotal to the growth of the Nigerian economy through the airport cities concept, otherwise known as Aerotropolis”, the FAAN MD declared.

The MD said Nigeria is prised to take its rightful place in the comity of successful aviation service providing nations of the world through the upgrade of its aviation infrastructure. He added that the Ministry wants to establish Nigeria as an aircraft maintenance hub on the African continent and called on Chinese investors to take grasp the opportunity and establish Maintenance, Repair and Overhaul (MRO) facilities in the country.

With a population of over 167 million people and a projected passenger growth of 50 million by 2026, Uriesi said Nigeria is a huge, untapped market waiting to be harnessed by investors with an eye for guaranteed return on investment.

He further spoke of the huge potential which the perishable cargo/fresh produce initiative holds for any investor, stressing that to grow this segment of aviation in Nigeria, about 13 perishable cargo terminals are being constructed across the country.

The Investment Forum, which was attended by President Goodluck Ebele Jonathan, GCFR was attended by a very large investment community which expressed readiness to expand its business interests in Nigeria.

The Forum climaxed a Three-Day State Visit of President Jonathan to China, which witnessed the signing of over 15 Agreements and MoU’s, including the $500 million Loan Agreement to finance of the construction of four airport terminals.

Land Dispute: Lagos Court rules in favor of FAAN

Aviation Nigeria

A Federal High court in Lagos on Wednesday ruled in favor of the Federal Airports Authority of Nigeria(FAAN) in protracted dispute between the Authority and AIC Ltd owned by Chief Harry Akande.

The presiding Judge, Honourable Justice Buba in his judgement, ruled that the Arbitral tribunal, which had awarded AIC Ltd the sum of $48, 124, 000, miss-conducted itself and went outside its jurisdiction in rendering the final award between the parties on June 1, 2010. He therefore declared that the final award null and void and thereby set it aside.

Justice Baba also consolidated and set aside the three suits: 

1. SUIT NO FHC/L/906/2010 FAAN VS A.I.C. LTD

2. SUIT NO FHC/L/CS/1058/2010 A.I.C.LTD VS FAAN

3. SUIT NO FHC/L/CS/1239/2010 AIC LTD VS FAAN 

FAAN had earlier filed an application, challenging the ruling of the arbitrator that awarded AIC Ltd the sum of over 48 million dollars.

AIC Limited had filed two suits on the matter, following the award of the arbitration, seeking first, an order to set aside the decision contained in part of the final arbitration award, asking that the same be remitted back to the arbitrator for reconsideration and secondly, that the arbitration be enforced.

The piece of land, located within the airport premises has been a cause of dispute between the Authority and AIC Ltd owned by Chief Harry Akande. Akande had in January invaded the premises, and force forcefully laid claim to the  parcel of land in question, after driving away some staff of the Federal Airports Authority Nigeria on duty at the site.

FAAN has said it has slated the site for the construction of a hotel complex at the Murtala Muhammed Airport Ikeja, following the judgement delivered by the Federal High Court in Lagos on June 19, 2013, in favour of FAAN.

Speaking on the judgement of the court, General Manager Corporate Communications, FAAN, Mr. Yakubu Dati stated that the judgement has made the plot available for massive infrastructural development at the Murtala Muhammed Airport, under the aerotropolis project, including an ultramodern hotel complex, a multi-storey car park and other related projects, designed to expand facilities at the airport.

Aerotropolis to transform Nigeria into international business destination - FAAN

Aviation Nigeria

Managing Director of the Federal Airports Authority of Nigeria(FAAN), Mr George Uriesi has commended the aviation Aerotropolis project adding that it would transform Nigeria to an internationally important business destination.

Uriesi made this assertion while speaking at a global meeting for airport chief executives and industry leaders organised by the Airport Council International (ACI), and holding in Istanbul, Turkey.

Uriesi who was invited to join global players from Schiphol, Athens, Birmingham and Gatwick amongst others to discuss common challenges in airport developments and chart a new course for the industry gave a summary of the remodelling projects spanning across the country, stating that these were the begining of developments aimed at converting Nigerian airports into competitive continental hubs.

According to him, the benefits of the remodelling projects are already yielding results as FAAN has begin to see significant revenue increases from the commissioned projects.

Uriesi, who also held brief for African Airports gave a comprehensive update and analysis on the current state of development of African airports.

Director General of ACI, Angela Gittens said in supporting the theme entitled 'Dynamic Airpot Business Transformation' the conference was aimed at bringing together an exceptional line-up of CEO speakers and provide a platform for industry stakeholders from around the world.

Other speakers, including Jos Nijhuis, CEO of Schipol Group, Mark Reis, MD Seatle-Tacoma International Airport, Paul Kehoe and CEO, Birmingham Airport amongst others, shared innovations on bold and necessary approaches in business activities to counter both industry pressures and competition while delivering improved performance.

The ACI is the apex body of airport operators and air transport leaders which provides platforms across the world.