The Minister of Aviation and Aerospace Development, Festus Keyamo, has clarified that the ₦712 billion allocated for the reconstruction of Terminal One at the Murtala Muhammed International Airport, Lagos, will be funded through gains from the removal of fuel subsidy and foreign exchange reforms.
Speaking on Channels Television’s Sunday Politics, Keyamo stressed the urgent need to revamp the terminal, describing its current state as “decrepit, leaking, and unfit for international aviation standards.” The terminal, built over 40 years ago, suffers from infrastructural decay, with malfunctioning facilities and unapproved kiosks cluttering the space.
Keyamo addressed the public outcry over the project’s timing, noting that the upgrade is a strategic investment to prevent international airlines from withdrawing operations from Nigeria due to poor infrastructure.
> “Airlines are already threatening to stop flights to Nigeria. Poor terminals and runways increase insurance costs and make our airports unattractive for global carriers,” Keyamo explained.
He emphasized that the ₦712bn project is not sourced from the national budget but from the Renewed Hope Infrastructure Fund, a special financing pool created from savings made after subsidy removal and naira floatation.
The Minister said the terminal overhaul will take 22 months, aiming to transform Lagos into a competitive aviation hub comparable to Addis Ababa and Johannesburg. He clarified that this is not a renovation but a complete teardown of the existing terminal, sparing only the structural pillars, with a redesigned, modern facility to replace it.
> “Lagos was designed to be a hub back in 1977, but the lack of integrated terminals has stunted aviation growth. This project will fix that gap,” Keyamo added.
The upgrade, he stated, is crucial for Nigeria’s aviation competitiveness, as the government pushes to improve infrastructure through its Renewed Hope Agenda.
