The Federal Government has stated that savings from the removal of the petrol subsidy allowed it to mobilise approximately $500 million for the reconstruction of Lagos airport and other critical aviation infrastructure. Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this on Monday in Lagos during the 67th anniversary of Aero Contractors Airline. He explained that the funds were not borrowed but became available due to improved liquidity and foreign reserves under President Bola Tinubu's administration. Keyamo linked the government's ability to undertake major infrastructure projects to the economic changes following the subsidy removal.
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