The Federal Government has approved a $500 million investment for the reconstruction of the Lagos airport, Minister of Aviation and Aerospace Development, Festus Keyamo, has said.

Keyamo disclosed this on Tuesday at the opening ceremony of Invest Lagos 3.0, stating that the project is aimed at transforming the over 50-year-old airport into a modern aviation hub.

According to the minister, the investment is being funded from the country’s savings and will significantly upgrade the airport infrastructure within the next 22 months.

“You will be very proud of what you see in Lagos in the next 22 months,” Keyamo said, describing the project as part of President Bola Tinubu’s commitment to improving aviation infrastructure.

The minister also announced plans to extend the rail line that currently terminates at Ikeja Bus Stop to the Murtala Muhammed International Airport.

He said the Federal Government is collaborating with the Lagos State Government on the rail extension project, adding that work on the initiative is expected to commence soon.

“We are working with the Lagos State Government to extend the rail line all the way to the international airport,” he said.

Keyamo added that the projects reflect ongoing efforts to position Lagos for further economic growth and development.