The Oyo State Government has sealed a 25-year concession deal with Bovas and Company Limited.
The move, according to the government is a vital step towards bolstering infrastructure and advancing the state’s aviation sector.
The 25-year agreement entails the development and operation of a cutting-edge aviation fuel storage facility with a capacity of 500,000 litres.
The news was shared on the official Facebook page of the Oyo State Government, and it says the plan is part of Governor Sèyí Mákindé’s efforts to upgrade the Ladoke Akintola Airport, Ibadan to International standard.
“The Oyo State Government has signed a 25-year concession agreement with Bovas and Company Limited for the 500,000-litre aviation fuel storage and dispensing facility installed by the government at the Ibadan Airport,” it read.
“The Director General of OYSIPA, Tilewa Folami who signed the agreement on behalf of the government, stated that this is part of Governor Seyi Makinde’s administration’s plan to upgrade the airport to international standard.”
The signing ceremony, held at the Office of the Director-General of the Oyo State Investment Promotion Agency (OYSIPA), Mr Tilewa Folami, witnessed the presence of key stakeholders from both parties.
Get instant and latest news updates via Our WhatsApp Community or Google News online channel.
