News in Brief:
– The Nigerian government has approved the concession of the Kashimbila airport and associated agricultural lands in Taraba State through a public-private partnership, aiming to boost agricultural exports and stimulate economic growth.
– This project is projected to generate trillions of naira in revenue and create numerous jobs by developing an agro-cargo hub and Free Trade Zone, enhancing regional and international trade connections.
The Nigerian Federal Executive Council (FEC) has authorised the concession of the Kashimbila Integrated Cargo and Agro-Allied Airport in Taraba State. The move, structured as a public-private partnership (PPP), aims to bolster the nation’s agricultural export capabilities.
Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC), detailed the project, which encompasses the airport’s upgrade for cargo services and the integration of substantial agricultural assets. It also includes over 3,000 hectares of farmland, facilities for fish farming, and livestock ranching.
Free trade zone
The development plan extends beyond the airport itself, with provisions for an ‘aerotropolis’ and a Free Trade Zone. These zones are intended to house business parks, logistics hubs, and residential areas. All of which is expected to foster a comprehensive economic ecosystem.
Ewalefoh stressed the project’s rapid progression, noting that the entire concession process was completed within six months. He added that it adhered to President Bola Ahmed Tinubu’s directive to expedite PPP initiatives.
Economic benefits and job creation anticipated
Meantime, officials project the concession will yield approximately 4.1 trillion naira in revenue throughout the concession period, generated from diverse sources.
Additionally, the initiative is expected to significantly enhance agricultural productivity through year-round irrigation farming.
Furthermore, the government anticipates substantial job creation, attraction of agribusiness investment, and stimulation of local and national economies via increased trade and exports.
The project aims to improve market access for agricultural products and foster regional integration by connecting Taraba State to both domestic and international markets.
This development is the third specialised agro-cargo airport under construction in the country. The others are the Ekiti State International Agro Cargo Airport and the Gateway International Agro-Cargo Airport in Ogun State.
