THE Lagos State government said it has entered into a Memorandum of Understanding (MoU) with the Summa Group for the construction of the Lekki-Epe International Airport.
The state governor, Babajide Sanwo-Olu, who signed the agreement, made this known in a statement on Saturday, February 8.
He said the much awaited airport is an essential part of his administration’s vision to improve connectivity in the state and stimulate economic growth, as well as draw in 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,” Sanwo-Olu stated.
He believes that the Lekki-Epe International Airport will facilitate travel and create new opportunities for businesses and residents throughout the state.
The ICIR reported in October 2022 that the Federal Government had given its nod to the construction of the Lekki-Epe International Airport following the presentation of the approval document by the former Minister of Aviation, Hadi Sirika, to Governor Sanwo-Olu at the 2022 Lagos Economic Summit, held at Eko Hotel and Suites.
The Lekki-Epe International Airport is expected to complement the Murtala Muhammed International Airport, Lagos, The ICI
R can report.
It is to be located on a 3500-hectare site in Lekki-Epe and is estimated to cost $900 million during the first phase of the project, according to a report by CAPA – Centre for Aviation.
Initiated through a public-private partnership, the project had faced delay due to opposition by local land-holders to the land acquisition process.
It had also faced similar delays in investors’ commitments to financing the airport.
A former commissioner for Commerce and Industry, Sola Oworu, said at a time that the state government was “shopping for investors” and would recommence work on the project once new financing is in place, CAPA – Centre for Aviation, noted.
In 2014, a former Lagos state governor, Babatunde Fashola, reportedly said land acquisition and preparatory work for a new international airport in the state’s Lekki region was complete, and the government was seeking investment for the project.