The Lagos State Government has signed a Memorandum of Understanding (MoU) with the internationally renowned construction company, Summa Group, for the development and construction of the Lekki-Epe International Airport.
Governor Babajide Sanwo-Olu announced the agreement on Saturday via his official X (formerly Twitter) account.
Sanwo-Olu described the project as a transformative initiative aimed at improving connectivity in Lagos, boosting economic growth, and attracting global investments.
“We signed a Memorandum of Understanding (MoU) with the internationally acclaimed construction company, Summa Group, to develop and construct the much awaited Lekki-Epe International Airport.
“This groundbreaking initiative is an essential part of our vision to improve connectivity in Lagos, stimulate economic growth, and draw in global investments,” the governor’s tweet read in part.
He emphasized that the Lekki-Epe International Airport would enhance travel and create new opportunities for businesses and residents across the state.
What you should know
The construction of a new airport in the Lekki axis has long been a key component of the Lagos State Government’s development agenda, as the region is one of the state’s four major growth corridors.
- According to earlier reports, the first phase of the Lekki International Airport project is expected to cost approximately $450 million, with initial plans for operations dating back to 2012.
- In 2022, the Federal Government officially approved the airport’s construction, with the then-Minister of Aviation, Hadi Sirika, presenting the approval at the Lagos Economic Summit held at Eko Hotel and Suites.
- Earlier this 2024, Governor Babajide Sanwo-Olu announced plans to establish a Sovereign Investment Fund to support strategic infrastructure projects, including the Lekki-Epe International Airport. He also urged the Nigeria Sovereign Investment Authority to consider investing in the project to accelerate its development.
- In January 2024, the Lagos State Government revealed plans to establish a state-owned airline for passenger operations, aligning with the final stages of preparation for the Lekki airport.
- By September 2024, the state government announced discussions with the Portuguese construction firm Mota-Engil Consortium as a potential partner for the airport’s development. However, in a significant shift, the government has now signed an MoU with the Russian company Summa Group to execute the project.
Notably, Lagos State’s N3.367 trillion 2025 budget allocates N1.052 trillion for infrastructure development, with several key projects planned around the proposed Lekki-Epe International Airport. These include the construction of the Lekki-Epe (Orisa) Bridge and its approach road, as well as the Lekki-Epe Airport Road, both of which will enhance access to the new airport and surrounding economic hubs.
