Lagos State Governor, Babajide Sanwo-Olu, has disclosed that aviation regulators will visit the state next week to inspect and review the proposed Lekki International Airport site before construction begins.
The first phase of the project, initially estimated at N171.64 billion ($450 million), remains subject to fluctuations in Foreign Exchange (FOREX) rates.
The governor reaffirmed his administration’s dedication to delivering the airport and other critical infrastructure projects. During a guided tour of Alaro City and Universal One Development along the Lekki-Epe Expressway, he emphasized that these initiatives would attract future investments and boost Lagos’ economy.
Sanwo-Olu emphasized that these projects would drive future investments in Lagos. His tour included visits to four major companies within Alaro City—Ariel Foods, BUA, TY Danjuma Logistics Park, and Universal Homes.
The proposed airport, located 10 kilometers from the Lekki Free Trade Zone (LFTZ), was initially set to open in 2028. It is designed to accommodate the Airbus A380, making it a Code F-compliant airport, spanning a 3,500-hectare site.
The Lagos State Government recently signed a Memorandum of Understanding (MoU) with the internationally renowned construction company Summa Group for the airport’s development and construction. Sanwo-Olu described the project as a transformative initiative to enhance connectivity, boost economic growth, and attract global investments.
“This groundbreaking initiative is an essential part of our vision to improve connectivity in Lagos, stimulate economic growth, and draw in global investments,” he said via his official X (formerly Twitter) account.
The governor also revealed that work on the Green Line Rail project, connecting Marina to Lekki, will soon commence, with funding arrangements in progress.
“We commend Alaro City for the extensive physical infrastructure laid down to attract businesses and investors. As a government, we have put in place infrastructure to receive investments in this corridor,” Sanwo-Olu stated.
He credited President Bola Tinubu for initiating the Lekki Free Trade Zone two decades ago, saying, “I was privileged to be part of his team at that time. Since then, we’ve witnessed significant growth.”
Sanwo-Olu urged investors to take advantage of ongoing developments, noting that the Lekki-Epe Expressway will further open up the area for investment.
“There is a plan for the Green Line Rail, which will extend to this neighborhood. Several transformative projects are happening beyond what we’ve seen in the last 10-15 years,” he added.
Chairman of Alaro City, Ayo Gbeleyi, highlighted the Lekki Free Trade Zone as a prime investment hub due to the state government’s infrastructural development in the area.
Managing Director of Alaro City, Yomi Ademola, praised the partnership between the Lagos State Government and private investors, which has attracted significant investments and created job opportunities.
He commended the Sanwo-Olu administration for delivering key projects, particularly in the Lekki axis, including the Lekki Deep Sea Port, the six-lane rigid pavement Lekki-Epe Expressway, the proposed Lekki International Airport, and the Green Line Rail.
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