The Federal Government has reached a negotiated settlement with Bi-Courtney Limited and Stabilini Visinoni Limited over the Murtala Muhammed Airport Terminal Two (MMA2) concession in Lagos, ending a nearly two-decade dispute marked by multiple court cases.
The Minister of Aviation and Aerospace Development, Festus Keyamo, announced the resolution on Tuesday in Abuja, saying the settlement framework was approved by the Federal Executive Council (FEC) on April 30, 2026, under President Bola Tinubu.
Under the deal, the Federal Government and the Federal Airports Authority of Nigeria (FAAN) will release specified historical claims against the concessionaire, including accumulated concession fees and related payments that accrued before the settlement.
In return, Bi-Courtney will waive all outstanding claims against the Federal Government, paving the way for a fresh contractual relationship with clearly defined financial and operational obligations.
Keyamo said the reciprocal waiver was central to the agreement, explaining that both sides agreed to relinquish past claims in order to move forward and unlock value in the aviation sector.
He stated that the development would enable FAAN to resume collection of concession fees from MMA2 after 20 years of earning nothing from the terminal due to litigation.
“FAAN had not earned a kobo from MMA2 for the last 20 years because of disputes. Today, FAAN begins to earn its money from that settlement,” the minister said.
The settlement also resolves the long-standing contestation over the General Aviation Terminal (GAT), also known as the old domestic terminal or MM1, which both parties had laid claim to.
Keyamo said the agreement recognises GAT as belonging to the Federal Government and being operated by FAAN, a position affirmed after a series of court proceedings.
As a concession to Bi-Courtney, the Federal Government agreed to allow the company to expand its apron and accommodate regional flights within Africa at MMA2, subject to the terminal’s capacity.
The minister urged the Chairman of Bi-Courtney, Dr. Wale Babalakin, to ensure timely completion of the abandoned hotel and conference centre projects near the airport, which he described as an eyesore.
Responding, Babalakin welcomed the resolution and thanked President Tinubu and Keyamo for facilitating an agreement on an issue that had remained unresolved for over 18 years.
He said the settlement would unlock fresh investment, generate well-paying jobs, improve the airport environment and encourage other investors discouraged by disputes with government to embrace negotiated settlement.
The original concession was executed on April 24, 2003, for the design, construction, operation and eventual transfer of the domestic terminal, with an initial 12-year term from May 7, 2007, later extended to 36 years, while a separate dispute arose after FAAN terminated hotel and conference centre leases in April 2012 over alleged failure to meet construction obligations.
Keyamo disclosed that no external lawyer was engaged or paid by the Federal Government for the negotiations, noting that both sides relied on their internal legal and technical teams, aided by his and Babalakin’s legal backgrounds, to resolve the issues.
