Agreement covers MMA2, general aviation terminal and hotel project, with government and concessionaire agreeing to waive outstanding claims…..
The Federal Government, the Federal Airports Authority of Nigeria (FAAN), Bi-Courtney Limited and Stabilini Visinoni Limited have signed agreements to resolve longstanding disputes over the management and development of key facilities at the Murtala Muhammed International Airport in Lagos.
The agreements were signed on Tuesday at the Abuja office of the Minister of Aviation and Aerospace Development, Festus Keyamo, following negotiations aimed at ending years of disagreement between the government and the private concessionaire.
In a statement, the ministry said the settlement, approved by the Federal Executive Council (FEC) on April 30, 2026, covers the management of the Murtala Muhammed Airport Terminal Two (MMA2), the General Aviation Terminal (GAT), as well as an associated hotel and conference centre.
Speaking at the signing ceremony, Keyamo described the agreement as the product of sustained engagement and difficult negotiations, noting that the parties had agreed to make mutual concessions in the national interest.
He said the settlement establishes a framework for resolving outstanding issues and creating a more stable working relationship between the government and the concessionaire.
Under the terms, Bi-Courtney has agreed to waive all outstanding financial and non-financial claims against the government that have yet to be settled. In return, the Federal Government and FAAN will release historical claims against the concessionaire, including accumulated concession fees and specified ancillary payments incurred before the agreement was signed.
Keyamo stressed that the arrangement was a reciprocal settlement rather than a one-sided concession, with both parties relinquishing claims to allow the relationship to continue under clearly defined terms.
The minister added that Bi-Courtney would resume payment of concession fees due under the original agreement following the execution of the settlement. He said the parties were expected to ensure that all payments falling due under the new arrangement were properly accounted for and paid.
On the operational provisions, Keyamo clarified that the General Aviation Terminal remains the property of the Federal Government and will continue to be managed by FAAN.
However, Bi-Courtney will be allowed to expand its apron and operate regional flights to destinations across Africa from MMA2, subject to the terms of the agreement and its operational capacity.
The hotel and conference centre will also be covered by restored rights and separate lease agreements. Keyamo said the government and relevant regulatory authorities would retain their oversight responsibilities, particularly regarding security access, emergency procedures and maintenance standards.
According to the minister, the settlement is expected to improve investor confidence, strengthen government revenue prospects and create more opportunities for employment and commercial activities within the aviation industry.
He said attention would now shift to implementing the agreement, with the ministry, FAAN and the concessionaire expected to work together through their legal, commercial and technical teams to ensure compliance with the agreed terms.
Speaking at the ceremony, Bi-Courtney Limited Chairman, Wale Babalakin, commended President Bola Tinubu for facilitating the resolution of the dispute, which he said had persisted for more than 18 years.
Babalakin also praised Keyamo for his role in bringing the parties to an agreement, expressing confidence that the settlement would deliver benefits to the aviation sector and the wider economy.
He said the resolution would create employment opportunities, improve the airport environment and help address concerns surrounding abandoned projects.
Babalakin pledged his commitment to implementing the agreement, assuring the President, the aviation ministry, FAAN and the country that he would not disappoint them.
The signing marks a significant step in the Federal Government’s efforts to settle longstanding contractual disputes, strengthen public-private partnerships and encourage private investment in aviation infrastructure.
With the parties now committed to implementing the terms, the success of the settlement will depend on their ability to honour the agreement and translate the resolution into improved facilities, more efficient airport operations and sustainable economic benefits.
