The Minister of Aviation and Aerospace Development, Festus Keyamo, has announced that President Bola Ahmed Tinubu has approved the construction of a second runway at the Nnamdi Azikiwe International Airport, Abuja.
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Keyamo disclosed this on Wednesday in Lagos during the maiden Nigerian Aircraft Acquisition and Investment Summit (NAAIS), stating that the President has directed contractors to immediately return to site and resume work on the long-awaited project.
The development is expected to significantly enhance operational safety and ease air traffic pressure on the airport’s existing single runway.
Speaking in his keynote address, the minister noted that Nigeria’s international passenger traffic has remained strong, with over two million passengers recorded in 2023, reflecting growing confidence in the sector.
He also highlighted the administration’s commitment to aviation infrastructure, revealing that President Tinubu recently approved $1 million for the facelift of the Murtala Muhammed International Airport in Lagos.
According to him, the project is scheduled for completion within 22 months, with contractors already mobilised and working to meet deadlines.
Keyamo emphasised that the summit goes beyond aircraft acquisition, focusing instead on building “the three pillars upon which any globally competitive aviation industry must stand, capital, confidence and capacity.”
He observed that for decades, Nigerian airlines have struggled with limited access to affordable aircraft financing, a challenge that has constrained fleet expansion, increased operating costs, and weakened competitiveness.
To address this, the Federal Government has elevated aircraft financing to a national priority, backed by Nigeria’s strengthened compliance with the Cape Town Convention, a global legal framework that protects the interests of aircraft lessors and financiers.
The minister outlined key reforms, including the 2024 Federal High Court Practice Direction on the convention and the implementation of the Irrevocable De-Registration and Export Request Authorisation (IDERA), both aimed at streamlining leasing processes, reducing investor risk, and lowering costs for domestic carriers.
“These reforms are critical because capital does not simply chase opportunity; it chases certainty,” Keyamo said.
He further noted that Nigeria has made significant progress in resolving the issue of trapped airline funds, which previously discouraged foreign airlines and investors.
Citing data from the International Air Transport Association, Keyamo said about 98 per cent of blocked funds had been cleared as of mid-2024.
The minister expressed optimism that ongoing reforms and infrastructure investments would position Nigeria as a more attractive and competitive aviation hub in Africa.
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