South-West Governors to Allocate N266 Billion for Airport Projects

Governors in Nigeria's southwestern region have collectively allocated over N266 billion for the development of new airports, despite concerns regarding the viability of many existing facilities.

Industry experts have expressed skepticism about the success of these airport initiatives, suggesting that they may not yield the expected economic benefits.

Historical patterns indicate that several former governors have abandoned similar projects, leaving financial burdens for their successors.

Currently, all six states in the southwest—Lagos, Ogun, Oyo, Osun, Ondo, and Ekiti—are either developing airports or have invested significant funds in proposed aerodromes.

Investigations reveal that there are eight airport sites across these states, with the Federal Government overseeing two airports in Ondo and Oyo, while the remaining five are the responsibility of state governments.

Lagos is home to the Murtala Muhammed Airport, recognized as the most viable airport in Nigeria. However, recent findings indicate that taxpayers have financed over N266 billion for five of the eight airport projects, raising concerns about fiscal responsibility.

In a statement from July, Olubunmi Kuku, Managing Director of the Federal Airports Authority of Nigeria, noted that only three out of 22 airports nationwide are currently viable and contributing positively to the aviation sector's growth.

Further analysis shows that merely four of over 30 airports in the country are economically sustainable, collectively generating N5.57 trillion in foreign trade over a span of 51 months.