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    Federal Government declares June 6 and 9 public holidays

    Federal Government declares June 6 and 9 public holidays

    Prosecutors demand six-year prison sentence for Simon Ekpa

    Prosecutors demand six-year prison sentence for Simon Ekpa

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    SEC alerts Nigerians of illegal operator Silverkuun Investment Cooperative Society/Silverkuun Limited

    Legal Expert says only Rivers State can collect VAT as at today following Appeal Court’s order to “maintain status quo”

    Wike describes Seyi Makinde as chief architect of PDP problems

    ELECTION: Cutix Plc reschedules Board Meeting

    Weekly Report: Nigerian Exchange sees mixed performance as Cutix Plc emerge top gainer

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    President Bola Tinubu Approves New Heads of Federal Agencies & Commissions

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    UH Real Estate Investment Trust to distribute N5.05 per unit to unit holders

    Canceling Keystone XL pipeline cost thousands of jobs, billions of dollars – Biden Administration

    Breaking: President Joe Biden diagnosed with “aggressive” cancer

    Mexican Navy Ship crashes into New York Bridge

    Mexican Navy Ship crashes into New York Bridge

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

    CBN fines nine banks 150 million Naira each for failing to dispense cash

    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

    United States scraps visa dropbox service for Nigerian applicants

    United States scraps visa dropbox service for Nigerian applicants

    Buhari says Nigeria security and economy improved during his tenure

    Buhari says Nigeria security and economy improved during his tenure

    Air Sierra Leone commences flight operations to Lagos

    Air Sierra Leone commences flight operations to Lagos

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    Court sanctions transfer of Access Bank Plc Shares to Holding Company

    Access Bank completes the acquisition of National Bank of Kenya

    ELECTION: Cutix Plc reschedules Board Meeting

    CUTIX PLC reports N1.1 billion profit for the FY ended April 2025

    Honeywell Flour Mills Plc reports N14.6 billion profit for FY ended March 2025

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    Weekly Market Report: NGX market capitalization settles at N70.46 trillion

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2025, qualification and payment dates

    Dangote Group announces major investment in rice production

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    Vacancy at Port Harcourt Refinery

    NNPC Ltd Announces Maintenance Shutdown of Port Harcourt Refinery

    Security features of the new naira notes revealed by the CBN

    The Frontier Fund unit holders to get N17 per unit distribution

    Banks begin to charge taxes on bonds, T-bills as exemption expires

    Skyway Aviation Handling Company Plc announces N0.6 final dividend for 2024 FY

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    Again DMO offers N360 billion FGN bond for February

    DMO offers N300 billion FGN bond for auction in May

    NGX Daily Equities Market Report: Market gains for third consecutive days

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    NGX Daily Equities Market Report: Market gains for third consecutive days

    NGX delists Flour Mills shares, lists additional NB and Jaiz Bank shares

    Bitcoin soars above $21,000 as U.S. dollar sags

    BITCOIN hits $103,000 for the first time

    Bitcoin (BTC) rises above US$90,000 records a new all time high

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    Bitcoin crosses US$60K, approaches All-Time High

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    Alhaji Dahiru Mangal sold his 1.96bn Oando Shares for N11.81bn

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    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

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    Security features of the new naira notes revealed by the CBN

    New hope for Naira fixed income savers?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

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President Buhari commissions the new US$100m Ultra-modern MMIA Terminal

Tuesday, 22 March 2022, 6:40 pm
in News, Nigeria
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President Buhari commissions the new US$100m Ultra-modern MMIA Terminal
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On Tuesday, 22nd March 2022, President Muhammadu Buhari inaugurated the newly completed ultra-modern terminal at the Murtala Mohammed International Airport.

Investogist had reported on Monday that the  new MMIA terminal would be commissioned today, Tuesday 22nd March 2022. A travel advisory issued by FAAN at the time advised all travellers and airport users to get to the airport earlier than usual, due to heightened security and logistics arrangements on ground.

The new Murtala Muhammed International airport Lagos terminal which was built by the Chinese construction giants, CCECC, working with four local consulting firms, is equipped with 60 beds hotel facilities for passengers’ comforts.

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The terminal has a capacity to process 14 million passengers per annum and it’s built on a landmass of approximately 56,000 square metres with 66 check-in counters according to a statement by FAAN.

Other facilities in the terminal include 5 baggage collection carousels, 16 Immigration desks at arrival, 28 Immigration desks at departure, 8 security screening points, 6 passenger boarding bridges but only 2 has been installed, 2 food courts, 4 premium lounges, 22 guest rooms and spa, 16 airline ticketing offices, visa on arrival and port health facility, as well as praying area, more than 3,000 square metres of duty-free space, approximately 5,000 square metres of lettable utility space, amongst others according to FAAN.

The airport is also equipped with category one navigational equipment, safety facilities and infrastructures.

The Lagos terminal is one of the five built in a bilateral arrangement between the Federal Government of Nigeria, and the People’s Republic of China. The terminals are, Lagos, Abuja, Port Harcourt, Kano and Enugu.

The terminal, estimated to be worth over $100 million, is one of the five airports – Lagos, Abuja, Port Harcourt, Kano and Enugu – that benefited from the 2013 loan deal between Nigeria and China for the building of four new terminals. Port Harcourt and Abuja terminals had been opened since 2018. The new airport terminal commissioning is coming in about eight years after its scheduled delivery date.

The long-awaited facility will complement and create an avenue for the old international terminal to be overhauled. However, this is coming amid stakeholders’ concerns over lack of parking spaces at the new terminal and the rationale behind concessioning of the airport.

According to the statement by the Acting General Manager, Corporate Affairs, Federal Airports Authority of Nigeria (FAAN), Faithful Hope-Ivbaze, the international terminal will generate about 3,000 direct and indirect employment for Nigerians, as well as enhance passenger facilitation and comfort at the Lagos airport.

She said the terminal in Abuja and Port Harcourt had been completed and commissioned while, Kano terminal would be completed and commissioned soon.

Faithful Hope-Ivbaze also disclosed that the Authority would also sign a memorandum of understanding with the Lagos State government on the nine-kilometre Airport-Shasha-Alimoso link Road to be constructed by the state.

Guardian reports that in an apparent move to make space for aircraft parking space around the facility, FAAN has begun demolition of buildings in close proximity, beginning with the regional office of the Accident Investigation Bureau Nigeria (AIB-N).

Other private entities and government agencies that may be affected are Dominion, Evergreen Apple Nigeria, Caverton, ExecuJet hangars, office complex of the Nigerian Airspace Management Agency (NAMA), the Federal Road Safety Corps (FRSC) and towing companies close to the AIB-N regional headquarters.

There are fears expressed in many quarters about the Chinese loans being used to build the new terminal. One of those fears was expressed by a group of former managing directors and directors of Federal Airports Authority of Nigeria. They warned against a Mezzanine Clause in all Chinese sponsored projects, adding that any contravention of the agreement on the $500 million loan may lead to invocation of the clause and give the Asians right to the infrastructure.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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