President Bola Tinubu has again approved the construction of a second runway for the Nnamdi Azikiwe International Airport (NAIA), Abuja.

Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this yesterday at the maiden Nigeria Aircraft Acquisition and Investment Summit (NAAIS), with the theme: ‘Unlocking Capital, Confidence & Capacity in Nigerian Aviation’, in Lagos.

In his keynote address, the minister said the construction of a second runway for the airport was a renewed push to strengthen Nigeria’s aviation infrastructure and ease growing operational pressure on the nation’s airports.

The plan for a second runway at the Abuja airport began in 2009 under the then Minister of Aviation, Babatunde Omotoba, who presented a cost of N64 billion from Julius Berger, after scaling it down from some higher figures, while Public Works (PW) suggested it could be done for N32 billion, with the prevailing pricing in 2010.

The N64 billion sum then generated controversies among the public who suspected foul play. This led to its disapproval by the National Assembly.

In 2022, the Federal Government again reached an agreement with the China Civil Engineering Construction Corporation (CCECC) for the construction of the runway at N64 billion, but the cost increased to N90 billion in 2023.

The sum was also hiked by the contractor in 2024 to N532 billion, an amount of money Keyamo kicked against, while the contractor abandoned the site.

But the minister in his speech yesterday said Tinubu had approved the return to the site of the contractor, but was silent on the financial costs.

He, however, said the Federal Government took the initiative as a critical component of the current government.

Director-General, Civil Aviation (DGCA), Chris Najomo, in his welcome address, said unlocking capital required the structural and financial barriers that had long constrained the growth of the nation’s airlines.

He said aircraft acquisition was capital-intensive, noting that without access to sustainable and affordable financing, fleet expansion and modernisation may remain limited.

In a bid to make aircraft acquisition easier for carriers, he canvassed strengthening the legal and institutional framework for aircraft financing, while investors and financiers develop innovative solutions tailored to Nigeria’s environment.

Besides, in her speech, which was done virtually, Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, observed that movement of goods from the point of production to the point of delivery depends on aviation, saying African aviation has contributed little to such movement.

According to her, intra-African trade remained at 16 per cent, while the continent contributes only three per cent to global trade despite its population and potential.

Lagos State Governor, Babajide Sanwo-Olu, assured that the state would continue to play a key role in connecting people across the country.

He stressed that the proposed Lekki Airport, when completed, would ease passenger and cargo movements in the state.