LAGOS, August 4, 2025 — Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has confirmed that the ongoing ₦712 billion reconstruction of the Lagos international terminal is being financed through savings accrued from the Federal Government’s fuel subsidy removal policy.
Speaking during an inspection tour of the new terminal project at the Murtala Muhammed International Airport, Lagos, Keyamo disclosed that the massive redevelopment forms part of President Bola Ahmed Tinubu’s Renewed Hope Agenda, aimed at modernising critical national infrastructure through reallocation of erstwhile subsidy funds.
The minister explained that the choice to invest in aviation infrastructure reflects government’s strategic plan to boost international confidence, enhance passenger experience, and reposition Nigeria as a regional aviation hub. He stated that the new Lagos terminal will be comparable to international standards upon completion, with modern facilities to handle larger passenger volumes and improve operational efficiency.
According to Keyamo, the project is being executed through direct government funding and not loans, with funds redirected from the savings made since the removal of petrol subsidies in 2023. He noted that this initiative showcases tangible benefits of the controversial policy shift, which sparked public protests but is now yielding critical development outcomes.
The Lagos terminal upgrade is one of several projects lined up under the aviation roadmap, including planned improvements to the Abuja, Kano, and Port Harcourt airports. Keyamo emphasised transparency and quality delivery as core expectations, assuring Nigerians that timelines will be met without compromise.
He further appealed for public support and understanding as the government intensifies efforts to fix long-neglected sectors using more sustainable and nationally beneficial funding models.
