FAAN explains MM2 concession review and calls for aviation sector reforms
The Federal Airports Authority of Nigeria, led by Olubunmi Kuku, has clarified the reasons behind the renegotiation of the Murtala Muhammed Airport Terminal II concession agreement. The move aims to rebuild investor confidence, resolve longstanding disputes, and ensure fairness in Nigeria’s aviation industry. Kuku highlighted the importance of institutional credibility and regulatory certainty for successful public-private partnerships. She also emphasized the need for collaboration and better management of future concession projects.
TLDR
- Olubunmi Kuku explained that renegotiating the MM2 concession was necessary to restore investor confidence and address years of conflict.
- The new agreement has been approved by the Federal Executive Council and is expected to serve as a model for future projects.
- Kuku called for stronger regional cooperation and the creation of national aviation delivery teams to coordinate infrastructure development.
- She advised against creating new aviation-focused financial institutions, suggesting specialized desks within existing ones instead.
- Plans to extend the Lagos Red Rail Line to airport terminals were mentioned as an example of potential co-financing opportunities.
