The Lagos State Government has made significant progress in its plans to develop the proposed Lekki-Epe International Airport.
With the allocation of 4,000 hectares of land in the Ibeju-Lekki area.
This land allocation marks a key step towards realizing the state’s vision of expanding its infrastructure and establishing a global business hub within the Lekki Free Zone.
The proposed airport is expected to enhance connectivity and ease the travel congestion currently experienced on Lagos Mainland.
While also positioning the state as a prime destination for foreign investment.
What you need to know
Governor Babajide Sanwo-Olu, in making the announcement, highlighted the airport’s importance in stimulating economic growth by driving tourism, commerce, and real estate development.
Its strategic location near major projects such as the Lekki Free Trade Zone, Alaro City, the Dangote Refinery, and the deep-sea port underscores the airport’s significance as a vital infrastructural asset.
These developments are expected to work in tandem with the airport’s operations, further solidifying Lagos as a leading commercial hub in West Africa.
Also, the Nigerian Civil Aviation Authority(NCAA) has urged the Lagos State Government to submit the necessary compliance documents to ensure the airport’s construction meets regulatory and safety standards.
These documents are a crucial prerequisite before construction can commence and will ensure that the airport adheres to international operational standards.
Why should you care?
Experts in the industry are optimistic that the completion of the Lekki-Epe International Airport will greatly enhance the real estate market in Ibeju-Lekki.
Property values in the area are expected to experience a sharp increase.
With analysts forecasting land appreciation rates as high as 80% once the airport becomes operational.
This development will benefit not only investors but also local residents, who are likely to see a surge in economic activity and job creation due to the influx of businesses and travellers attracted to the region.
The new airport is projected to handle millions of passengers annually, significantly reducing the strain on the Murtala Muhammed International Airport.
Additionally, it will provide more convenient access for travellers and businesses operating within the fast-growing Lekki corridor, further contributing to the state’s economic diversification efforts.
The Lagos State Government is also committed to ensuring that the communities surrounding the airport benefit from the development.
Of course, Plans are in place to improve local infrastructure, create job opportunities, and enhance access to social amenities, ensuring that the region’s growth positively impacts residents.
Once the airport becomes fully operational, it is expected to act as a catalyst, accelerating the transformation of Ibeju-Lekki into a thriving urban and economic hub.
As construction preparations progress, the state government continues to collaborate with federal aviation authorities to meet all required compliance standards, ensuring the project’s smooth execution.
The impact of the Lekki-Epe International Airport is anticipated to extend beyond Lagos, positively influencing Nigeria and the broader West African region by positioning Lagos as a premier destination for business and tourism alike.