The Government of the State of Osun has signed a concession agreement with All Works of Life (AWOL) International Limited for the completion of MKO Abiola International Airport.
The signing of the concession agreement which is to annex the infrastructure development of the state was held in the State secretariat, Abere, State of Osun on Thursday.
AWOL International Limited in partnership with a Turkish company, Biray Group is expected to complete the project within the span of 8months.
The Chief Executive Officer, AWOL International Limited, Amb. Nurudeen Ogunlade, said, “Today’s signing of the concession agreement is of great significance to both AWOL and the State of Osun Government on the continuation of the construction of MKO Abiola International Airport and Aviation Maintenance with handling service from the heart of the Oduduwa kingdom.”
He said, “Compared with other local Airport, MKO International Airport will open the doors of business and other trade related opportunity within Ogun, Ondo, Ekiti, Kogi, Oyo, Kwara and Edo State as well as to our foreign visitors.
“On the completion of the construction of First Phase of the Airport within the period of 8months, it will take off with five aircraft, three passengers helicopter and one cargo aircraft by AWOL International Company.”
He posited that his company will complete the entire Airport with 5 Star Hotels including all amenities like Cultural center, Water Park Recreation Center and Garden, Butterfly Museum and Casinos within the period of 2years.
While enumerating the benefit that the airport will bring to the country, he said the airport is designed to facilitate the smooth movement of the people and goods from one point to another and serve as a channel way for tourism, hanger and cargo.
He noted that the concession agreement was not in any way detrimental to the economy of the State and it will be run for 30years before it will be handed over fully to the State government.
He commended the Governor for his pragmatic effort in giving the State good shapes for an enviable future.
In his remark, the State Governor of Osun, Ogbeni Rauf Aregbesola said, “We are doing something that is really extraordinary to take the state to a greater height in Nigeria. When I began the entire project; the airport, roads, the schools and other social infrastructures I was so sure that if there is no problem with our stream of income, definitely all these project will be completed. The arrangements we put on ground will now ensure effective completion of these project, as we did not use the conventional method of financing our project, rather we brought to bear what we called ‘flexible funding’ in partnership with some banks.
“Before the terrible financial mess that befell Nigeria, we had expended the sum of N2, 926, 27,948.5 billion on the project. The contractor handling the project has done certified work amounting to N3; 667,178,112.15 billion, meaning that outstanding for the contractor against the state is the sum of N640, 970,164.10 million and these amounts includes retention of N170, 609, 64.16million.