The Lagos State Government has signed a Memorandum of Understanding (MoU) with Summa Group for the development of the Lekki-Epe International Airport.
Governor Babajide Sanwo-Olu announced the deal on Saturday through his official X (formerly Twitter) account.
He described the project as a transformative initiative to improve connectivity, boost economic growth, and attract global investments to Lagos.
“We’ve partnered with Summa Group to develop and build the long-awaited Lekki-Epe International Airport,” said Sanwo-Olu. “This project will improve travel, create business opportunities, and contribute to economic growth.”
Key Details:
The Lekki airport project has been a central part of Lagos’ development plans, focusing on one of the state’s major growth areas.
- The first phase is estimated to cost $450 million, with operations originally planned for 2012.
- In 2022, the Federal Government formally approved the project.
- Governor Sanwo-Olu has announced the creation of a Sovereign Investment Fund to support strategic infrastructure, including the airport, and urged the Nigeria Sovereign Investment Authority to invest in the project.
- In January 2024, Lagos revealed plans to establish a state-owned airline to operate alongside the airport.
- In September 2024, discussions were held with Mota-Engil Consortium, but the government has now signed an MoU with Summa Group.
The 2025 Lagos State budget of N3.367 trillion allocates N1.052 trillion for infrastructure, including the Lekki-Epe Airport and related projects like the Orisa Bridge and Airport Road to improve access to the new facility.
