Critical assets and personnel across all federal airports are to get insurance cover following yesterday’s approval of a N1.09 billion package by the Federal Executive Council (FEC). Aviation and Aerospace Development Minister Festus Keyamo dropped the hint after the FEC meeting at the State House in Abuja. Keyamo told State House reporters that the approval aligns with a directive from the Secretary to the Government of the Federation (SGF), which mandates Ministries, Departments and Agencies (MDAs) to insure critical government assets. The minister noted that many airport assets had remained uninsured for a long time, putting them at risk. The approved insurance scheme, he noted, will protect infrastructure and personnel of the Federal Airports Authority of Nigeria (FAAN). The N1,097,137,102.48 insurance contract, which includes 7.5% VAT, will be executed over a year, beginning from the completion of the premium payment by FAAN. The minister reaffirmed that the approval underscores the Tinubu administration’s commitment to improving aviation safety, infrastructure security and workers welfare.
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