The Federal Government has successfully resolved the longstanding 20-year dispute surrounding the Murtala Muhammed Airport Terminal Two (MM2) concession agreement, following a negotiated settlement approved by the Federal Executive Council (FEC).
The breakthrough agreement marks a major turning point in Nigeria’s aviation sector and is being hailed as one of the most significant reforms in airport infrastructure and private-sector collaboration in recent years.
Under the terms of the settlement, Bi-Courtney Aviation Services Limited agreed to forgo the N132 billion judgment debt awarded by the Supreme Court against the Federal Government.
The company also dropped the contentious exclusivity clause tied to the MM2 concession and formally handed over the Murtala Muhammed Airport Terminal One (MM1) back to the Federal Government.
In return, the Federal Government restored the hotel and conference centre project to Bi-Courtney for completion and joint operation under a revenue-sharing arrangement. The government also agreed to facilitate the relocation of regional flight operations to MM2, including apron expansion where necessary to accommodate increased traffic and operational efficiency.
The agreement further enables the Federal Government to begin earning immediate revenue shares from the arrangement, creating what stakeholders have described as a “win-win” outcome for both parties and the nation’s aviation industry.
Aviation industry observers say the resolution of the privatisation imbroglio that has been stalled for two decades since the Obasanjo administration would now effectively unlock the full commercial and operational potential of MM2, while also removing long-standing legal and administrative bottlenecks that have slowed aviation infrastructure development in Lagos.
The settlement is also expected to pave the way for the proposed Lekki International Airport project, while boosting investor confidence in Nigeria’s airport concession framework and public-private partnerships.
In addition, the deal includes plans for the establishment of a private-sector-driven aircraft leasing company aimed at supporting Nigerian airlines with easier access to aircraft financing and fleet expansion opportunities.
The successful resolution has been credited largely to the intervention and leadership of the Minister of Aviation and Aerospace Development, Festus Keyamo (SAN), whose efforts reportedly helped bring both parties to the negotiation table.
Legal and industry insiders also acknowledged the role played by Chairman of Bi-Courtney Group, Dr. Wale Babalakin (SAN), with both senior lawyers leveraging their longstanding professional relationship and commitment to national interest to achieve the breakthrough.
The agreement signals a new era of collaboration and stability in Nigeria’s aviation sector, reinforcing the Tinubu administration’s commitment to resolving legacy disputes, attracting private investment and accelerating critical infrastructure development.
The resolution is widely regarded as another major milestone for the administration’s ongoing aviation sector reforms and modernization agenda.
