{"id":153787,"date":"2025-03-03T22:37:13","date_gmt":"2025-03-03T21:37:13","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/nigerian-government-to-secure-airports-assets-with-n1bn"},"modified":"2025-03-03T22:37:13","modified_gmt":"2025-03-03T21:37:13","slug":"nigerian-government-to-secure-airports-assets-with-n1bn","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/nigerian-government-to-secure-airports-assets-with-n1bn","title":{"rendered":"Nigerian government to secure airports\u2019 assets with N1bn"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>To protect staff and assets in all federal airports across the country, the Federal Executive Council on Monday approved a N1.09 billion insurance package.<\/p>\n<p>The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this after the Federal Executive Council, FEC, meeting presided over by President Bola Tinubu at the Presidential Villa.<\/p>\n<p>Keyamo stated that the approval aligns with a directive from the Secretary to the Government of the Federation, mandating ministries, departments, and agencies to insure critical government assets.<\/p>\n<p>He explained that the measure is a key requirement for Nigeria\u2019s airports to obtain certification from the International Civil Aviation Organization, ICAO.<\/p>\n<p>\u201cThis memo was prompted by Mr President because we cannot continue to run our airports and critical assets, as precious and expensive as they are, without insurance cover.<\/p>\n<p>\u201cMost of these assets have remained uninsured for a long time. This approval ensures both the infrastructure and personnel of the Federal Airports Authority of Nigeria, FAAN, are covered, in line with global best labour practices.\u201d<\/p>\n<p>The insurance contract, valued at N1,097,137,102.48 (inclusive of 7.5% VAT), will be executed over a one-year period, commencing upon premium payment by FAAN.<\/p>\n<p>Following a rigorous selection process, five leading Nigerian insurance firms were chosen for the coverage. Leadway Assurance Company Limited was appointed as the lead underwriter, while the co-underwriters include Cornerstone Insurance Plc, Linkage Assurance Plc, NEM Insurance Company, and Anchor Insurance Plc.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. To protect staff and assets in all federal airports across the country, the Federal Executive Council on Monday approved a N1.09 billion insurance package. The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this after the Federal Executive Council, FEC, meeting presided over by President Bola Tinubu at the Presidential Villa. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":153786,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[2286,254,822],"class_list":["post-153787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-festus-keyamo","tag-nigeria","tag-nigerian-government"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nigerian government to secure airports\u2019 assets with N1bn - Nigeria<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/nigerian-government-to-secure-airports-assets-with-n1bn\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigerian government to secure airports\u2019 assets with N1bn\" \/>\n<meta property=\"og:description\" content=\"Africa-Press &#8211; Nigeria. To protect staff and assets in all federal airports across the country, the Federal Executive Council on Monday approved a N1.09 billion insurance package. The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this after the Federal Executive Council, FEC, meeting presided over by President Bola Tinubu at the Presidential Villa. 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To protect staff and assets in all federal airports across the country, the Federal Executive Council on Monday approved a N1.09 billion insurance package. The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this after the Federal Executive Council, FEC, meeting presided over by President Bola Tinubu at the Presidential Villa. 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