The Minister of Aviation and Aerospace Development, Festus Keyamo, has announced that the Federal Government expects to recoup the N712 billion invested in the ongoing rehabilitation of Murtala Muhammed International Airport (MMIA) in Lagos within three years.
Speaking during an interview on Channels Television’s Sunday Politics on August 3, 2025, Keyamo highlighted the airport’s significant revenue potential as the driving force behind this ambitious projection.
According to the minister, MMIA generates approximately N200 billion annually, making it Nigeria’s most profitable aviation facility.
“Lagos airport gives us about N200 billion every year. So in three years, the investment pays for itself,” Keyamo stated, expressing confidence in the project’s financial viability.
The rehabilitation, funded through the Renewed Hope Infrastructure Development Fund and not external loans, involves a complete overhaul of Terminal One, which was originally commissioned in 1979, and the expansion of Terminal Two, alongside new infrastructure such as aprons, access roads, and bridges.
Keyamo emphasized that the project aims to transform Lagos into West Africa’s aviation hub, competing with regional giants like Ghana, Ethiopia, 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 said.
The minister also addressed public concerns about the project’s cost, assuring Nigerians of transparency and accountability.
He noted that the Bureau of Public Procurement had scrutinized the N712 billion budget, and routine site tours would be organized for journalists, civil society, and lawmakers to monitor progress.
The rehabilitation, awarded to the China Civil Engineering Construction Corporation (CCECC), will strip Terminal One to its structural core, replacing outdated mechanical, electrical, and plumbing systems over a 22-month period.
Keyamo described the current state of the terminal as “decrepit and smelly,” citing issues like leaking roofs and makeshift kiosks, underscoring the urgency of the upgrade to meet global standards.
This initiative is part of the Tinubu administration’s broader plan to modernize Nigeria’s aviation infrastructure, enhance passenger experience, and boost economic competitiveness in aviation, logistics, and tourism.
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