About $500 million has been invested by the Federal Government in upgrading the Murtala Muhammed International Airport, as part of efforts to position Nigeria as a regional aviation hub and attract more investors into the sector.
Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this at the Nigerian Aircraft Acquisition and Investment Summit in Lagos, where industry stakeholders converged to discuss growth opportunities, financing, and fleet expansion.
Citing data from the International Air Transport Association (IATA), the Minister said Nigeria recorded 2.1 million international passenger departures in 2023, with 38 international connections, 24 commercial airports, and 17 new international routes added over the past five years, highlighting the country’s aviation potential for its over 240 million population.
Regulators, including the Director-General of the Nigerian Civil Aviation Authority, Chris Najomo, and his counterpart at the Infrastructure Concession Regulatory Commission, Johnson Ewalefoh, noted that the sector can significantly boost job creation and improve ease of doing business.
Airline operators, such as Obiora Okonkwo and Allen Onyema, identified access to financing and fleet expansion as critical to sustaining growth.
Stakeholders, including Ngozi Okonjo-Iweala and Olubunmi Kuku, called for stronger policy support and investment frameworks to unlock the full potential of Nigeria’s aviation industry.
(Editor: Ada Ononye)
