FAAN, private investor to develop N56bn Aerotropolis City in Akure Airport

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By Favour Nnabugwu


Federal Airport Authority of Nigeria FAAN in partnership with private investor developed a N56billion Aerotropolis city in Akure Airport, Ondo State.

An Aerotropolis City, said to be the first of its kind in sub-sahara Africa, has finalused arrangement between FAAN and a private company, Ala Resort Ltd, to develop and transform the Akure Airport to an aerotropolis city.

Infrastructural facilities of the aerotropolis, is expected to gulp N56 billion while no fewer than 14,000 skilled workers would be engaged.

Speaking with newsmen in Akure, the General Manager, Business Development, FAAN Headquarters, Mr. Hycinth Ngwu, said the decision was anchored on private/public partnership geared towards developing an aerotropolis in the airport.

Ngwu poined out that the project was a revolution in the way the authority generates revenue.

He assured that the project, which the groundbreaking would hold on Tuesday, would be executed as planned and Akure Airport would be the best.

The General Manager, appreciated the host community, Ondo State government and all stakeholders saying that “It’s of the interest of all stakeholders to support the project. It will increase revenue base of the state and local government.

“Certainly majority of the employees will come from the locality. They should support it because it will transform to their successes.

“We intend to replicate this in other airports. We started in Akure because it initially had the largest land mass before being overtaken recently by Abuja Airport.”

The Chief Executive Officer of the resort, Mr. Moyosola Niran-Oladunni, explained that the company was bringing ideas that would impact value on the state.

Niran-Oladunni said “the Aerotropolis City, which would be first of its kind in sub-sahara Africa, would drive lives around aviation industry.

According to him, the resort had begun moves on the Aerotropolis since 2017 when experts were invited to assess the airport for its suitability for the project.

He said that FAAN had approved the project, which he said would be constructed in phases including institutional, industrial, commercial and agricultural.

According to him, “the Aerotropolis City would parade institutional zone including Sports Academy that could host any club, which would be built by Emirate Foundation, medical centre, to be built by a US company.

“The industrial zone would also enable all materials to be used for the construction to be assembled and manufactured in the sector within.

Niran-Oladunni added that the Aerotropolis has the potential to catalyse cargo business in the airport, saying the airport authority would activate the cargo shed in the airport.

He disclosed that” no fewer than 14,000 skilled workers would be engaged by the Aerotropolis City which the infrastructure facilities would gulp N56billion.

The Airport manager, Akure, Mrs. Lynda Ezike ,assured that the management and staff of the airport were expectant and ready to support the proposed unprecedented developmental mega project in the airport.

According to her, “We are ready to support Ala Resort Ltd in ensuring the success of this mega project which is for the betterment of all stakeholders.” End

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