Thursday, 21 January 2016

Benue Signs N37.8bn MoU for Construction of New Cargo Airport

Benue State government and a private investor, Aerotropolis Development Company Ltd, have signed a Memorandum of Understanding, MOU, for the establishment of a cargo airport in Makurdi, the state capital, at the cost of N37.898 billion.

The Public Private-Partnership agreement which was signed yesterday, followed series of meetings between the state government and the investor.

Briefing reporters after the signing, the Adviser to the Governor on Media and Information and Communication Technology, ICT, Tahav Agerzua, said the MOU provided for a 25-year concession period.

Agerzua stated further that the MOU stipulated that Benue State government would provide one thousand hectares of land for the project, in addition to N5.2 billion equity contribution, representing 15% of the total cost of the project.

The Attorney-General and Commissioner for Justice, Mr. Michael Gusa, signed on behalf of the state government, while the Legal Adviser to Aerotropolis Development Company, Mrs. Comfort Chigbue, signed on the company’s behalf.

Vanguard recalls that Governor Samuel Ortom, while speaking recently on the planned Makurdi Airport, said when completed, the project would add immense value to the economy of the state as it would open new frontiers of trade, particularly exportation for the people of Benue and neighbouring states.

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