Lagos to build a second $450million international airport | The Lagos State Government has officially signed a Memorandum of Understanding (MoU) with the acclaimed construction firm Summa Group for the development and construction of the Lekki-Epe International Airport. Governor Babajide Sanwo-Olu announced this agreement on Saturday through his official X (formerly Twitter) account.
In his statement, Sanwo-Olu described the project as a transformative initiative aimed at enhancing connectivity within Lagos, fostering economic growth, and attracting global investments. He emphasized that the airport will improve travel and generate new business opportunities for residents across the state.
The construction of an airport in the Lekki axis has been a long-standing goal of the Lagos State Government, identified as a critical component of its development agenda in one of the state’s four major growth corridors. The initial phase of the airport project is projected to cost around $450 million, with plans dating back to 2012.
The Federal Government granted official approval for the construction in 2022, with the then-Minister of Aviation, Hadi Sirika, announcing the decision at the Lagos Economic Summit held at Eko Hotel and Suites. Earlier this year, Governor Sanwo-Olu revealed intentions to create a Sovereign Investment Fund to support strategic infrastructure projects like the airport and called for the Nigeria Sovereign Investment Authority to consider investing in it.
In a further step towards operational readiness, the Lagos State Government announced plans in January 2024 for a state-owned airline to facilitate passenger operations related to the airport. By September 2024, discussions were underway with the Portuguese firm Mota-Engil Consortium as a potential partner, but talks have shifted to finalize the MoU with Summa Group for project execution.
Looking ahead, Lagos State’s N3.367 trillion budget for 2025 allocates N1.052 trillion for infrastructure development, including key projects surrounding the Lekki-Epe International Airport. Notable plans include the construction of the Lekki-Epe (Orisa) Bridge and its approach road, as well as the Lekki-Epe Airport Road, which aims to improve access to the new airport and enhance connections to economic hubs nearby.
Lagos to build a second $450million international airport | AviationGhana
