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Business

Operators count losses from MMIA fire incident

Shop owners , retail outlets and other operators carrying out business activities at the Terminal 1 of Murtala Muhammed International Airport (MMIA), Lagos are counting their losses running into billions

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March 2, 2026byThe Nation
3 min read

Shop owners , retail outlets and other operators carrying out business activities at the Terminal 1 of Murtala Muhammed International Airport (MMIA), Lagos are counting their losses running into billions of Naira following the the fire incident that engulfed the facility last week.

The losses are accruing from revenue that would have been earned for sales of goods and rendering of services to passengers and other airport users.

The Federal Airports Authority of Nigeria (FAAN), shut down the terminal to allow for thorough investigation into the cause of the fire incident.

Read Also: Presidency debunks report of alleged plot to poison Tinubu, describes claim as fake

Worst hit businesses at the shut  down terminal include: concessionaires operating  quick service restaurant/ eateries / fast food outlets, duty free shops, art and craft / boutique and fashion outlets, retail outlets, pharmacy shops and bookshops as well as bureau de change operators and many others.

Investigations by The Nation reveal that the affected operators have commenced inventory on the items damaged by the ravaging inferno.

A source said many of the affected operators may shut down their business while the burnt terminal undergoes reconstruction, which they fear may exceed the 22 months timeline given by the Federal Government to overhaul and rehabilitate the facility.

The source said job losses will be imminent for staff   of the affected operators as there is inadequate space in the temporary terminal put together for use.

Investigations reveal that the temporary terminal cannot accommodate most affected operators displaced by the fire.

But, industry watchers have raised concerns on the status of the burnt terminal , if it has adequate insurance cater to the compensation of businesses affected.

Statutory regulatory requirements expects airports to have a robust insurance cover.

Speaking in an interview, Minister of Aviation and Aerospace Development, Mr Festus Keyamo said the facility will be pulled down for rebuilding.

Keyamo said :” Even though we were preparing to pull down this old terminal, we had certain equipment we still needed to retrieve,” he said.

Keyamo disclosed that evacuation of personnel and agencies from the facility had already been underway before the incident, adding that the Federal Airports Authority of Nigeria had concluded arrangements to relocate operators to a temporary terminal constructed by the China Civil Engineering Construction Company.

According to him, the fire has only accelerated the relocation process. “Even before this fire, FAAN had made temporary arrangements to move most of the airlines and entities operating here to the temporary facility provided by CCECC. What has happened has only hastened the movement away from this building,” he said.

The minister, however, expressed deep concern over the loss of vital aviation infrastructure, particularly meteorological and operational equipment located on the upper floors of the building.

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