Aviation Minister Festus Keyamo says proceeds from Nigeria’s fuel subsidy removal generate about $500 million that is used to fund aviation infrastructure, including the Lagos airport rebuild. Keyamo says the funding supports reconstruction of aviation assets and other related projects.
According to multiple outlets, Keyamo links the $500 million to savings created after President Bola Tinubu’s administration removes the fuel subsidy. Vanguard and The Punch both report that the minister cites specific works at Murtala Muhammed International Airport in Lagos, including reconstruction of an old terminal, alongside broader aviation infrastructure development. Daily Post adds that Keyamo also speaks about investor interest in Nigeria, presenting the infrastructure funding as part of a wider outlook.
While the outlets differ slightly in emphasis—some focus more on the airport projects themselves and others add commentary about investors—they all attribute the claimed $500 million for aviation works to fuel subsidy removal proceeds, as stated by Keyamo.
