The Federal Executive Council (FEC) has approved the establishment of a Maintenance Repair and Overhaul (MRO) centre expected to generate $185 million.
This was contained in a statement issued by Manji Yarling, Acting Head, Media and Publicity, Infrastructure Concession Regulatory Commission (ICRC) in Abuja on Wednesday.
Mrs Yarling said the approval was given following the issuance of a Full Business Case (FBC) Compliance Certificate by the ICRC to the Federal Ministry of Aviation.
She said the MRO centre which would be the first in West and Central Africa would be a one-stop-shop for the overhaul, routine maintenance and service of aircraft.
“The centre is established as a Public Private Partnership (PPP) with Messrs AJW Consortium as the concessionaire and using the Build Operate and Transfer (BOT) PPP model.
” The centre is approved for a concession period of 30 years and is expected to generate about 185 million dollars within the period,” she said.
She said the MRO is part of the key elements in the aviation sector roadmap of the current administration of President Muhammadu Buhari.
Mrs Yarling said the roadmap in aviation was an outcome of a careful appraisal of the challenges, risks and opportunities of the air transport sector in Nigeria after due consultation with key stakeholders.
“It is aimed at addressing the challenges of the sector, filling the identified gaps and creating the needed environment for active private sector participation in the development of the nation’s aviation sector.”
She said the establishment of a private sector-driven MRO centre was critical for the diversification and repositioning of the aviation industry as it would provide a platform for aircraft repairs, overhaul and maintenance.
Mrs Yarling said the MRO centre would address the demand for aircraft maintenance in Nigeria, West and Central Africa.
“Currently, the regions do not have an international standard MRO and therefore, urgently require one to ease business, facilitate growth and contribute to their Gross Domestic Product (GDP).”
(NAN)
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