Nigeria’s Aviation Minister, Festus Keyamo, has assured Nigerians that the ongoing airport investment programme at the Murtala Muhammed International Airport, Lagos, is fully funded from national resources and will deliver a world-class aviation facility within 22 months.
Speaking at the Invest Lagos 3.0 Summit in Lagos, Keyamo said the Federal Government’s commitment to aviation infrastructure development was aimed at positioning Lagos as Africa’s next major aviation hub.
“This is not borrowed money. It is an investment from the nation’s resources aimed at transforming a fifty-year-old airport into a world-class aviation hub. Within the next twenty-two months, Nigerians and visitors alike will witness a remarkable transformation due to this airport investment that will make us all proud,” he said.
The minister’s remarks formed the centrepiece of discussions at the global investment summit hosted by Lagos State Governor Babajide Sanwo-Olu at Eko Hotel and Suites, Victoria Island.
Airport Investment to Drive Aviation Growth
According to Keyamo, the Federal Government has secured approval from President Bola Tinubu for a $500 million Airport Investment package dedicated to the comprehensive modernisation and reconstruction of the country’s busiest international gateway.
He explained that the project represents a strategic national commitment to improving aviation infrastructure and boosting investor confidence in Nigeria’s transport sector.
The minister noted that Lagos remains Nigeria’s foremost aviation gateway, handling the majority of international passenger traffic into the country.
“Sixty-seven per cent of all international passengers entering Nigeria by air come through Lagos State. This statistic alone demonstrates the attractiveness and strategic importance of Lagos as Nigeria’s economic powerhouse and aviation gateway,” he stated.
Keyamo said the scale of passenger traffic underscores the need for continued Airport Investment to support future growth and improve passenger experience.
He further highlighted Lagos’ geographical advantage, describing the city as strategically positioned to serve as a connecting point between Africa and major international destinations.
According to him, travellers can access Europe, the Middle East, Southern Africa and South America within approximately six hours from Lagos, making the city an ideal hub for global air connectivity.
Lagos Targets Continental Hub Status
The minister expressed confidence that ongoing reforms and infrastructure upgrades would enable Lagos to compete with established African aviation centres.
He said the government’s vision is to transform Lagos into a leading aviation hub capable of attracting airlines, investors and passengers from across the continent.
Meanwhile, Keyamo disclosed plans to strengthen connectivity between the airport and the wider Lagos transport network.
He revealed that the Federal Ministry of Aviation and Aerospace Development is collaborating with the Lagos State Government to extend the rail line from Ikeja through the General Aviation Terminal, MM2 and the international terminal.
According to him, the rail connection will significantly improve passenger movement and accessibility while supporting the long-term objectives of the airport investment programme.
“Lagos is ready for the next big step in aviation development. The rail extension project will further enhance connectivity and support the state’s growing status as a regional aviation hub,” he said.
Investors Encouraged to Explore Opportunities
In addition, Keyamo used the summit to court both local and foreign investors, assuring them that the Tinubu administration remains committed to protecting investments and resolving business disputes.
He cited the successful settlement of a long-running dispute involving a private airport investor as evidence of the government’s pro-business approach.
“This government has demonstrated an unwavering commitment to private sector participation. From aviation to other sectors of the economy, President Tinubu has consistently resolved long-standing investment disputes and created an environment that inspires investor confidence,” he said.
The minister also urged investors to consider opportunities in federal aviation infrastructure projects as well as the proposed airport development along the Lekki corridor.
“I invite you to invest not only in the Federal Government-owned airport infrastructure in Lagos but also in the proposed airport project along the Lekki corridor being championed by the Lagos State Government. The opportunities are immense, and the future is promising,” he concluded.
The Invest Lagos 3.0 Summit attracted international investors, policymakers, industry leaders and development partners seeking new opportunities for airport investment in Lagos, reinforcing the state’s position as West Africa’s leading commercial destination.
