An International Airport is Coming to IBADAN
If you follow me on social media, you must have read my announcement yesterday that President Bola Ahmed Tinubu has approved our upgrade of the Ibadan Airport, Alakia, to an international airport. What this means in real terms is that after we complete the upgrade, which will include the expansion and extension of the runway and the general upgrade of the facilities, we will begin receiving international flights from anywhere in the world into Ibadan.
This is not a hasty decision. Neither are we simply trying to start a project because others are doing the same. This is a well-thought-out decision based on data, science and logic. In fact, right from Omituntun 1.0, we had already started taking action in this regard. We have completed the 500,000-litre aviation fuel storage and dispensing facility, which has been concessioned to Bovas Group. We have also upgraded part of the facilities at the airport, which led to new airlines like Green Africa and Air Peace including Ibadan in their flight schedules.
So, let me use this newsletter to share briefly the business case for the Ibadan International Airport.
Aviation fuel tank at Alakia Airport, Ibadan
Let’s start by looking at the big picture. Where do we want Oyo State to be in the next decade? Surely, you will agree that we are looking at a State that is a major economic hub. The potential for development in the key sectors of agriculture, tourism and solid minerals development is waiting to be tapped by investors within and outside Nigeria. One of the major considerations for investors when coming to a State is interconnectivity – how easily and quickly they can get in and out of a place for business. How can we compete with global markets when people first have to go to Lagos, spend hours fighting the traffic and then head into Ibadan? The wasted man-hours are enough to keep serious investors away.
The economic hub we are trying to create should attract existing companies looking to expand to come and set up business in our city. With an international airport, such expansion is easy to achieve. We have the potential to be a more attractive destination for businesses looking to establish regional headquarters or expand operations with an international airport.
It is a fact of history that Ibadan is a nodal city, the place where traders arrived with their caravans. I always remember this when I think of the Schiphol Airport in Amsterdam with their byline “See, Buy, Fly”. Ibadan has the potential of being the Schiphol of Nigeria with an international airport. We will have more international visitors to Come, See, Enjoy Oyo State tourist attractions. And as they come for business, leisure or bleisure, they will see and enjoy spending their money here as they patronise our local businesses.
Air Peace inaugural flight to Ibadan in August 2021
Our data shows that we will even be getting traffic from people in neighbouring States who would abandon landing in Lagos because Ibadan is closer. Such healthy competition will further stimulate the Nigerian economy. Remember, populations continue to grow, putting pressure on already existing facilities and creating a need for new infrastructure. Oyo State has the unique opportunity to leverage the growing population of southwest Nigeria and the continuous increase of persons who choose air travel or who, by necessity, must travel by air in and out of Nigeria.
As to the question: is this what we should be doing now? Why not focus on agriculture? Our response is, we plan not just for now but for the future. The initial cost may seem enormous, but the benefit for posterity, as shown from the analysis above, outweighs the cost. And who says we cannot do the two? We are already leveraging our comparative advantage in agriculture by attracting big business into our State. This international airport will further help us leverage further economic benefits from these businesses.
This is a strategic investment and posterity will smile on us for opting to upgrade the Ibadan Airport Alakia to an international standard.
Let’s make history again !- Seyi Makinde
