The N712billion To Rebuild Lagos Airport Is From Tinubu's Fuel Subsidy Savings, Floating Of Naira – Keyamo.
Keyamo disclosed the development while speaking on Channels TV programme, stating that the funds would be drawn from savings made following the removal of fuel subsidies.
The Minister of Aviation and Aerospace Development, Festus Keyamo, has defended the plan to spend N712billion to revamp the Terminal One of the Murtala Muhammed International Airport in Lagos State, saying it is funded through savings from President Bola Tinubu's removal of fuel subsidies and floating of naira.
Keyamo disclosed the development while speaking on Channels TV programme, stating that the funds would be drawn from savings made following the removal of fuel subsidies.
He said the airport's roof is leaking, and the facility is decrepit and foul-smelling.
"You see people selling Indomie and all kinds of kiosks erected there. The ceilings are failing, and the carousels are not working because their parts are not in the market anymore,” he said.
The government's recent approval of ₦712 billion for the airport terminal upgrade has drawn widespread criticism, with many describing it as a misplaced priority by the Tinubu administration.
Critics argue that the move comes at a time when millions of Nigerians are struggling with record-high inflation, rising hunger, and an escalating cost of living—conditions largely attributed to the government's removal of petrol subsidies and the unification of foreign exchange rates.
In response, Keyamo clarified that the project would not be funded through the regular budget but through the “Renewed Hope Infrastructural Funding,” a special infrastructure fund designated for such developments.
“This government promised Nigerians major infrastructural upgrades across Nigeria, from the savings we are having now from the subsidy removal and the floating of the naira,” he added that the project is expected to span 22 months.
The minister warned that without rebuilding the airport terminal, many foreign airlines might withdraw from operating in the country.
“Without this, some international airlines will threaten to stop flight to your country when you don’t have a good airport, a good runway, because it affects insurance because when the runways are not good, the terminals are good, the insurance will go up because they will say that place is not safe to fly to,” he explained
Keyamo emphasised that once completed, the terminal would compete with major aviation hubs across Africa, including those in Ethiopia, South Africa, and other countries.
According to him, “As it is today, you cannot land in Lagos (local airport) and try to connect to an international flight, maybe to Ghana
“Lagos is not a hub, but that was the plan in 1977 when it was designed and in 1979 when it was commissioned. You cannot process one passenger from one terminal to another, so that has stunted the growth of aviation.
“What we are trying to do in Lagos now is to make Lagos a very modern airport and create a proper hub to begin to compete with other hubs in Africa. So, we want to completely pull down Terminal One.
“It is not a refurbishment; we are tearing it down, only the pillars will remain, the carcass, the decking. Everything will go, and they are going to redesign now," Keyamo added. - according to Sahara Reporters.
Keyamo disclosed the development while speaking on Channels TV programme, stating that the funds would be drawn from savings made following the removal of fuel subsidies.
The Minister of Aviation and Aerospace Development, Festus Keyamo, has defended the plan to spend N712billion to revamp the Terminal One of the Murtala Muhammed International Airport in Lagos State, saying it is funded through savings from President Bola Tinubu's removal of fuel subsidies and floating of naira.
Keyamo disclosed the development while speaking on Channels TV programme, stating that the funds would be drawn from savings made following the removal of fuel subsidies.
He said the airport's roof is leaking, and the facility is decrepit and foul-smelling.
"You see people selling Indomie and all kinds of kiosks erected there. The ceilings are failing, and the carousels are not working because their parts are not in the market anymore,” he said.
The government's recent approval of ₦712 billion for the airport terminal upgrade has drawn widespread criticism, with many describing it as a misplaced priority by the Tinubu administration.
Critics argue that the move comes at a time when millions of Nigerians are struggling with record-high inflation, rising hunger, and an escalating cost of living—conditions largely attributed to the government's removal of petrol subsidies and the unification of foreign exchange rates.
In response, Keyamo clarified that the project would not be funded through the regular budget but through the “Renewed Hope Infrastructural Funding,” a special infrastructure fund designated for such developments.
“This government promised Nigerians major infrastructural upgrades across Nigeria, from the savings we are having now from the subsidy removal and the floating of the naira,” he added that the project is expected to span 22 months.
The minister warned that without rebuilding the airport terminal, many foreign airlines might withdraw from operating in the country.
“Without this, some international airlines will threaten to stop flight to your country when you don’t have a good airport, a good runway, because it affects insurance because when the runways are not good, the terminals are good, the insurance will go up because they will say that place is not safe to fly to,” he explained
Keyamo emphasised that once completed, the terminal would compete with major aviation hubs across Africa, including those in Ethiopia, South Africa, and other countries.
According to him, “As it is today, you cannot land in Lagos (local airport) and try to connect to an international flight, maybe to Ghana
“Lagos is not a hub, but that was the plan in 1977 when it was designed and in 1979 when it was commissioned. You cannot process one passenger from one terminal to another, so that has stunted the growth of aviation.
“What we are trying to do in Lagos now is to make Lagos a very modern airport and create a proper hub to begin to compete with other hubs in Africa. So, we want to completely pull down Terminal One.
“It is not a refurbishment; we are tearing it down, only the pillars will remain, the carcass, the decking. Everything will go, and they are going to redesign now," Keyamo added. - according to Sahara Reporters.
The N712billion To Rebuild Lagos Airport Is From Tinubu's Fuel Subsidy Savings, Floating Of Naira – Keyamo.
Keyamo disclosed the development while speaking on Channels TV programme, stating that the funds would be drawn from savings made following the removal of fuel subsidies.
The Minister of Aviation and Aerospace Development, Festus Keyamo, has defended the plan to spend N712billion to revamp the Terminal One of the Murtala Muhammed International Airport in Lagos State, saying it is funded through savings from President Bola Tinubu's removal of fuel subsidies and floating of naira.
Keyamo disclosed the development while speaking on Channels TV programme, stating that the funds would be drawn from savings made following the removal of fuel subsidies.
He said the airport's roof is leaking, and the facility is decrepit and foul-smelling.
"You see people selling Indomie and all kinds of kiosks erected there. The ceilings are failing, and the carousels are not working because their parts are not in the market anymore,” he said.
The government's recent approval of ₦712 billion for the airport terminal upgrade has drawn widespread criticism, with many describing it as a misplaced priority by the Tinubu administration.
Critics argue that the move comes at a time when millions of Nigerians are struggling with record-high inflation, rising hunger, and an escalating cost of living—conditions largely attributed to the government's removal of petrol subsidies and the unification of foreign exchange rates.
In response, Keyamo clarified that the project would not be funded through the regular budget but through the “Renewed Hope Infrastructural Funding,” a special infrastructure fund designated for such developments.
“This government promised Nigerians major infrastructural upgrades across Nigeria, from the savings we are having now from the subsidy removal and the floating of the naira,” he added that the project is expected to span 22 months.
The minister warned that without rebuilding the airport terminal, many foreign airlines might withdraw from operating in the country.
“Without this, some international airlines will threaten to stop flight to your country when you don’t have a good airport, a good runway, because it affects insurance because when the runways are not good, the terminals are good, the insurance will go up because they will say that place is not safe to fly to,” he explained
Keyamo emphasised that once completed, the terminal would compete with major aviation hubs across Africa, including those in Ethiopia, South Africa, and other countries.
According to him, “As it is today, you cannot land in Lagos (local airport) and try to connect to an international flight, maybe to Ghana
“Lagos is not a hub, but that was the plan in 1977 when it was designed and in 1979 when it was commissioned. You cannot process one passenger from one terminal to another, so that has stunted the growth of aviation.
“What we are trying to do in Lagos now is to make Lagos a very modern airport and create a proper hub to begin to compete with other hubs in Africa. So, we want to completely pull down Terminal One.
“It is not a refurbishment; we are tearing it down, only the pillars will remain, the carcass, the decking. Everything will go, and they are going to redesign now," Keyamo added. - according to Sahara Reporters.
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