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 nearly two decades of legal disputes.
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 agreement, the Federal Government and the Federal Airports Authority of Nigeria (FAAN) will waive specified historical claims against the concessionaire, including accumulated concession fees and related payments that arose before the settlement.
In return, Bi-Courtney will relinquish all outstanding claims against the Federal Government, paving the way for a renewed contractual relationship with clearly defined financial and operational obligations.
Keyamo described the reciprocal waiver as a critical component of the agreement, saying both parties agreed to abandon past claims to resolve the dispute and unlock investment opportunities in the aviation sector.
He said the settlement would enable FAAN to resume collecting concession fees from MMA2, after earning no revenue from the terminal for 20 years because of the prolonged 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 agreement also resolves the long-running dispute over the General Aviation Terminal (GAT), also known as the old domestic terminal or MM1, which both parties had claimed ownership of.
According to Keyamo, the settlement recognises GAT as the property of the Federal Government, with FAAN responsible for its operation, following a series of court proceedings.
As part of the concessions granted to Bi-Courtney, the Federal Government will allow the company to expand its apron and accommodate regional flights within Africa at MMA2, subject to the terminal’s capacity.
The minister also urged Bi-Courtney Chairman, Dr Wale Babalakin, to complete the abandoned hotel and conference centre projects near the airport, describing their current state as an eyesore.
Babalakin welcomed the agreement, thanking President Tinubu and Keyamo for facilitating a resolution to a dispute that had remained unresolved for more than 18 years.
He said the settlement would encourage fresh investments, create well-paying jobs and improve the airport environment. He added that the agreement could also reassure investors who had been discouraged by disputes with government, encouraging them to pursue negotiated settlements.
The original concession agreement was signed on April 24, 2003, for the design, construction, operation and eventual transfer of the domestic terminal. It initially covered 12 years from May 7, 2007, but was later extended to 36 years.
A separate dispute emerged in April 2012 after FAAN terminated leases relating to the hotel and conference centre projects over alleged failure to meet construction obligations.
Keyamo further disclosed that the Federal Government did not engage or pay external lawyers for the negotiations. Instead, both parties relied on their internal legal and technical teams, with the minister and Babalakin drawing on their legal backgrounds to facilitate the resolution.
