Aviation Minister Festus Keyamo announced that the removal of Nigeria’s fuel subsidy has unlocked US$500 million for critical aviation infrastructure projects, including the reconstruction of Lagos’s main airport.
The newly available funds are earmarked for essential upgrades across the country’s aviation network, with a particular focus on modernising facilities that support both passenger and cargo operations.
The subsidy removal is part of broader economic reforms aimed at reducing fiscal pressure on the federal budget. Nigeria, Africa’s most populous nation, has been seeking ways to re‑allocate resources toward sectors that can drive growth and improve service delivery.
Keyamo highlighted the Lagos airport reconstruction as a flagship component of the investment, describing it as vital for enhancing the country’s connectivity and capacity to handle increasing air traffic.
Officials expect the infusion of capital to boost safety standards, expand operational capacity and stimulate economic activity linked to the aviation sector.
<small>Source: Punch Nigeria — read the original story there.</small>