Keyamo Reveals N500 Billion Aviation Investments Under Tinubu

Festus Keyamo, the Minister of Aviation and Aerospace Development, stated that the funds saved from the removal of fuel subsidies are being redirected by President Bola Tinubu's administration to enhance aviation infrastructure in Nigeria. Keyamo revealed that over N500 billion is being invested in the construction of a new international terminal at Murtala Muhammed Airport (MMIA) in Lagos and approximately N400 billion for a second runway at Nnamdi Azikiwe International Airport in Abuja.

He noted that the Lagos airport will soon be connected to a rail service for better access. Keyamo reflected on the historical delays of the Abuja runway project, which initially had a budget of N63.5 billion but has now escalated to nearly N400 billion due to delays.

He emphasized that past administrations struggled with infrastructure funding due to fuel subsidies and currency suppression. With the removal of these subsidies, foreign reserves have increased, allowing for significant funding without excessive foreign debt.