Lagos as one of the world’s mega cities, continues to elevate its status by consistent innovations and advancements. The internal revenue generation is one of the best of all African cities and thus, a constant need for internal and external socioeconomic growth. Recently, the Federal Government approved the Lagos State Government’s proposal to commence establishment of a new passenger and cargo airport on the Lekki-Epe axis of Lagos State. Lagos State Governor, Babajide Sanyo-Olu just received the news of President Buhari’s instrument where the state has been authorized to commence with the plan.
Senator Hadi Sirika, Nigeria’s Minister for Aviation presented this document on behalf of President Buhari to Governor Sanyo-Olu during the Lagos Economic Summit 2022, which took place at the Eko Hotels and Suites in Victoria Island. Through a public private partnership, Lagos State Government were reported to have initiated this aviation project which was in line with the pace of development along the Lekki-Epe axis, which is being developed as one of the fastest and biggest hubs for commerce and other industrial activities. The airport is planned to sit on an estimated 3,500 hectares with its first phase growing an estimated cost of about $900 million.
Approval, an important way forward in creating a greater Lagos.
While numerous private companies have however showed interest in collaborating with the government to develop the airport, the Lagos State Government is still indecisive about investors to partner with as regards the aviation infrastructure. Sanwo-Olu stated that this approval was a way forward in fulfilling his administration’s agenda of a greater Lagos and making the state economically strong. He described this development as a win for the long-term vision of his political party, All Progressive Congress (APC) and its presidential candidate, Bola Tinubu, who initiated that Lagos Economic Summit, a platform where this idea emanated from.
Sanwo-Olu noted that the approval of this license was a major step in the right direction to improve the economic ambience of Lagosians and make their living better. He stated that this idea would see the government tap into business opportunities, whilst providing a better platform for businesses to develop. He further explained that building requisite infrastructures and an environment for businesses to grow were important foundations for every state to improve. He also said that the airport will reduce journey time and make the commercial ambience in the state easily accessible.
This project will complement the overstretched Muritala Mohammed Airport.
Sirika again stated that the federal mandate to Lagos State Government witnessed an accelerated approval due to the need to plug Lagos and other south-western states for regional trade, as well as the international market. The aviation minister asserted that this project would further improve Lagos’ GDP and create jobs for the national economy. The airport would also work complementary with the Muritala Mohammed Airport, which has an already overstretched scheduling. He however stated that the social and economic growth in Lagos had necessitated the need to build another airport.
Sanwo-Olu is said to have commenced building future initiatives by introducing a 30-year growth plan that would develop Lagos State to the level of other developed cities in the world by 2052. He noted that his administration’s framework was shaped to create and implement local solutions within social and economic realities evident in the state. He also noted that while the state has the allowance to look outwardly for inspiration, the ideas must be founded on local context and adaptation. He however stressed that in subsequent days, the government will listen to policymakers and investors on paradigms to further strengthen the development trajectory of Lagos State.
Lagos Economic Summit has helped create a better idea for economic growth.
Sam Egube, Lagos State Commissioner for Economic Planning and Budget said that the Lagos Economic Summit had helped the state with a better idea of economic growth, which the state was harnessing in having important conversations with key private sector stakeholders. He also noted that 210 out of the 222 resolutions reached in the past eight editions of this submit have been implemented by the government, adding that the conversation with private sector stakeholders have also helped enhance accountability in governance.
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