The Federal Government expects to recover the N712 billion spent on renovating Lagos’ Murtala Muhammed International Airport (MMIA) within three years, the Minister of Aviation and Aerospace Development, Festus Keyamo, has said.
Speaking on Channels Television’s Sunday Politics monitored by Spear News, Keyamo outlined plans to position Lagos as West Africa’s premier aviation hub, citing the airport’s strong revenue potential.
He noted that MMIA generates roughly N200 billion annually—making it Nigeria’s most profitable airport—and expressed confidence that the returns would justify the infrastructure investment.
He said: Lagos airport gives us about N200 billion every year. So in three years, the investment pays for itself.”
The Federal Government is modernizing infrastructure at Lagos’ Murtala Muhammed International Airport (MMIA) through a concession-based Public-Private Partnership (PPP), aiming to enhance operational capacity, service efficiency, and passenger throughput.
Aviation Minister Festus Keyamo emphasized that the N712bn investment aligns with a dual strategy: increasing domestic aviation revenue and positioning Nigeria as a premier transit hub to rival regional leaders like Ethiopia, Ghana, and South Africa.
“We are doing what it takes to make Nigeria the aviation hub of West Africa. Lagos is key to that vision,” he noted.
The Minister, however, reassured Nigerians that the project will be executed with full accountability and deliver long-term value.
The rehabilitation project is part of a broader infrastructure overhaul by the Tinubu-led administration aimed at enhancing Nigeria’s competitiveness in aviation, logistics, and tourism.
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