Lekki $450 Million International Airport Plans Snubbed by Investors

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Photo/Nairaland

After a promising good start to the construction of an international airport in Lekki, thick grass and trees have overwhelmed the three thousand hectares of land stipulated for the project.

The project has been abandoned for over three years now due to the sudden discouragement in support of investors. The investors backed out from the commitment based on their emphasis on the inclemency of the environment and political policies which may not turn out well for the profit of non-governmental fellows that have participated in the state-owned investment.

The airport was primarily brought up to compete with the old Murtala Muhammed International Airport owned and poorly managed by the Federal Government over years which does not fit-in to Lagos State’s fast growing economic, business and social conditions in the face of the world.

It was set to be situated in the Lekki-Epe Free Trade Zone( LFTZ).  Lekki, an upper middle-class suburban subset has been the place of many multi-million dollar investments as of late including the Lekki Deep International Seaport and Dangote 650bpd Refinery.

Efforts to secure investors to facilitate the construction and manage the airport by the hired firms in charge were fruitless even in at global investment exhibitions. The airport, of 500 seat capacity, designed to serve wide-body, double-deck, four engine aircrafts and other outstanding services such as the Airbus A380 that will make it Code F compliant has not seen a stone build for its construction since 2011.

Expression Of Interest (EOI) had been received from both local and international firms such as Munich Airport of Germany, Hyundai Engineering and Co Limited and many others earlier in the year 2011, but these firms finally withdrew interest after some time, according to the former Lagos State Commissioner for Commerce and Industry; Sola Oworu.

A source from the Lagos State Governor’s house disclosed that the regime of Governor Akiwunmi Ambode has decided to re-embark on the pursuit to secure this huge economic dream of Lagos State. Sources say that the present commissioner in charge of the project, Rotimi Ogunleye will not speak on it until some type of reasonable development is attained.