The concession deal is worth over N28bn (about $59m) with N100m (about $262,000) payable to the state per annum.
Asaba International Airport was conceived and initiated by the Delta state government as a strategic economic platform to open up the state to the global marketplace.
The proximity of Asaba to the mercantile southeastern cities of Pnitsha and Nnewi in neighbouring Anambra State, means the airport is well-placed for commercial success.
The airport was designed and approved by the Federal Ministry of Aviation to deliver scheduled passenger services and act as a hub for export of agricultural and manufactured goods.
Delta State Governor ifeanyi okowa says the airport now has a medical centre and firefighting station, while the watchtower for firefighters is 80% ready.
In addition, the Okowa administration completed the installation of the Instrument Landing System and the Airfield Ground Lighting System.
As a result, the airport can now handle night operations approved by the Nigeria Civic Aviation (NCAA) and the Nigeria Airspace Management Agency (NAMA).
Although there are airports in Benin, Enugu and Owerri, the deplorable state of the federal roads and rising insecurity across the country further justifies the need for the development of the Asaba International Airport.