The Minister of Aviation and Aerospace Development, Festus Keyamo, has announced that President Bola Tinubu has approved a $500 million investment to rebuild and modernise the Lagos airport, with plans to reposition it as a major aviation hub in Africa.
Keyamo made the disclosure on Monday at the Invest Lagos 3.0 summit, noting that the project aims to transform the 50-year-old airport into a world-class facility within about 22 months.
According to him, Lagos currently handles about 67 per cent of Nigeria’s air passenger traffic, giving it strong strategic and geographic advantages to serve as a continental hub for aviation and connectivity.
He said the upgrade would not only modernise existing infrastructure but also expand capacity to meet rising demand in the sector.
Keyamo also revealed that the federal government was collaborating with the Lagos State Government to extend the rail line from Ikeja directly to the airport, improving transportation links for passengers and cargo.
He added that the broader aviation development plan includes attracting private sector investment into airport infrastructure, including proposals for a new airport in the Lekki corridor to support future growth.
