The Federal Government and Bi-Courtney Aviation Services Limited have signed a final settlement agreement to resolve a nearly 20-year dispute over the concession of the Murtala Muhammed Airport Terminal Two (MMA2) in Lagos, paving the way for renewed revenue to the government and fresh investment in airport infrastructure.
Festus Keyamo, minister of aviation and aerospace development, disclosed this on Tuesday at the signing of the agreement, which formalises a negotiated resolution involving the Federal Government, the Federal Airports Authority of Nigeria (FAAN), Bi-Courtney and Stabilini Visinoni Limited. Keyamo said the settlement followed approval by the Federal Executive Council on April 30, 2026, under President Bola Tinubu’s administration, after years of litigation and competing financial claims between the parties.
He described the agreement as a significant milestone for Nigeria’s aviation sector, saying it would replace prolonged legal disputes with defined financial and operational obligations. The minister said the resolution was achieved through sustained negotiations involving the ministry, FAAN and the concessionaire, adding that both sides made concessions to reach an agreement.
“It required sustained engagement, difficult negotiations, and an unwavering commitment to securing an outcome beneficial to all parties, and above all beneficial to Nigeria as a country,” Keyamo said. Under the settlement, Bi-Courtney will waive outstanding claims against the government, while FAAN and the Federal Government will release specified historical claims against the concessionaire, including accumulated concession fees and certain ancillary payments arising before the agreement’s execution.
Keyamo said the reciprocal arrangement was intended to settle past disputes and establish a clearer basis for the parties to fulfil their obligations going forward. He disclosed that FAAN had not earned concession revenue from MMA2 for about 20 years because of the dispute, but would begin receiving payments under the revised arrangements.