Tinubu Approves $500 Million for Lagos Airport Modernisation, Says Keyamo
By Aboki Forex —
President Bola Tinubu has approved $500 million for the upgrade of the Murtala Muhammed International Airport in Lagos. Aviation Minister Festus Keyamo announced this on Monday at the Invest Lagos 3.0 Summit.
Keyamo told participants that the funds come from national savings, not borrowing. “The president has approved $500 million, not what he borrowed, but from the sweat of the savings of the country to rebuild the airport in Lagos,” he said.
The minister said the project will transform the 50-year-old airport into a modern hub. “It is turning that airport that is 50 years old into a marvellous hub. You’ll be very proud of what you see in Lagos in the next 22 months,” he added.
Lagos airport handles about 67 per cent of Nigeria’s international passenger traffic. But overcrowding, infrastructural decay and years of neglect have made redevelopment urgent.
Immediate plans include rebuilding Terminal One, which was commissioned in 1979, constructing new access roads, and redesigning the entire airport to meet international standards. The upgrade will also connect both domestic and international terminals to the Lagos rail network, which currently ends at Ikeja.
“We are working with the Lagos State Government to extend that rail line all the way to the international airport,” Keyamo said.
He noted that Lagos’s location allows flights to reach Europe, the Middle East and parts of South America within six hours. Better airport infrastructure will boost the city’s competitiveness and support the government’s aviation agenda.
Keyamo urged investors to explore opportunities in the sector, including projects by both federal and state governments. He also disclosed plans for a new airport in the Lekki corridor and called for more private-sector involvement in aviation infrastructure.