Faan engages banks contractors for airport infrastructure funding
It seems like you're referring to a news article or a press release about FAAN (Federal Airports Authority of Nigeria) engaging banks and contractors for airport infrastructure funding.
Here's a possible summary:
The Federal Airports Authority of Nigeria (FAAN) has announced that it has engaged banks and contractors to provide funding for the development of airport infrastructure across the country. The move is aimed at improving the overall passenger experience and increasing the capacity of Nigeria's airports.
According to reports, FAAN has signed agreements with several banks to provide funding for the projects, which include the construction of new terminals, expansion of existing facilities, and the installation of modern security systems.
The contractors, who were selected through a competitive bidding process, will be responsible for the design and construction of the projects, which are expected to be completed within a specified timeframe.
The funding for the projects is expected to be provided through a combination of loans and grants from the banks, as well as from the federal government.
The development of airport infrastructure is seen as a key priority for the Nigerian government, as it aims to improve the country's transportation sector and increase its competitiveness in the global economy.
It's worth noting that the exact details of the agreements, including the amount of funding and the timeline for completion, have not been disclosed. However, the move is seen as a positive step towards improving the country's airport infrastructure and enhancing the overall passenger experience.