At a media discussion on Friday, Mr. Ope George, the Special Adviser Governor on Public Private Partnerships (PPP), revealed the information. He disclosed that the Federal Government has granted Lagos government, led by Governor Babajide Sanwo-Olu, permission to build a new airport.
Since it was proposed under the administration of former Governor Babatunde Fashola and an investment prospectus was distributed to the international business community to invest in the airport project, which was estimated to cost $450 million at the time, the state’s airport project has stalled over the years.
The state government and potential investor proposed a Public Private Partnership (PPP) to build the airport, in which the government would provide the land and other supporting infrastructure and the private partner would build the airport using a Design, Build, Finance, Operate, and Manage (DBFOM) model in accordance with international best practices.
Lagos State hired four rated companies to serve as consultants on the airport project.
The efforts have not yet resulted in its realization. However, it appears that the Sanwo-Olu government is committed to seeing that the project is realized.
The project, which is anticipated to begin in 2023, will be built on 3,500 hectares of land, according to the governor’s aide, who also noted that the master plan and aeronautical designs are in place, while studies are ongoing about strategies, funding, and other issues, after which the project will be put on the market.
The Special Adviser added that both domestic and international investors will work together to build the airport, which is anticipated to serve at least five million people annually.
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