The Federal Government has signed agreements with Bi-Courtney Limited and other stakeholders to resolve a longstanding dispute over the management and development of facilities at the Murtala Muhammed Airport in Lagos.
The agreements involve the Federal Airports Authority of Nigeria (FAAN), Bi-Courtney Limited and Stabilini Visinoni Limited. They were signed on Tuesday at the office of Festus Keyamo, Minister of Aviation and Aerospace Development, in Abuja.
According to a report by TheCable, the settlement covers the management of the Murtala Muhammed Airport Terminal Two (MMA2), the General Aviation Terminal (GAT), and an associated hotel and conference centre.
The Federal Executive Council approved the settlement on April 30, 2026, as part of efforts to resolve the dispute, which has lasted more than 18 years.
FG, Bi-Courtney Agree to Waive Outstanding Claims
Speaking at the signing ceremony, Keyamo said the agreement followed sustained engagement and difficult negotiations, with the parties making concessions in the national interest.
He explained that Bi-Courtney had agreed to waive all outstanding financial and other claims against the Federal Government that had not been settled before the agreement was executed.
In return, the government and FAAN agreed to release historical claims against the concessionaire, including accumulated concession fees and specified ancillary payments arising before the agreement was signed.
Keyamo described the arrangement as a reciprocal settlement, saying both sides had surrendered outstanding claims to establish a more predictable working relationship.
He added that Bi-Courtney would resume payment of concession fees due under the original agreement following the execution of the settlement.
MMA2 to Handle Regional Flights
Under the new arrangement, Bi-Courtney will be permitted to expand its apron and operate regional flights within Africa from MMA2, subject to the agreed conditions and operational capacity.
However, the General Aviation Terminal will remain the property of the Federal Government and continue to be operated by FAAN.
The settlement also addresses the associated hotel and conference centre through restored rights and separate lease agreements.
Keyamo said the government and relevant regulatory agencies would retain oversight responsibilities, including provisions covering security access, emergencies and maintenance standards.
He said the agreement was expected to improve investor confidence, strengthen government revenue prospects and encourage employment and commercial activities in the aviation sector.
The minister added that the focus would now shift to implementation, with the ministry, FAAN and the concessionaire expected to work together through their legal, commercial and technical teams.
Bi-Courtney Chairman Welcomes Settlement
Wale Babalakin, chairman of Bi-Courtney Limited, commended President Bola Tinubu for facilitating the resolution of the dispute.
Babalakin described the agreement as a breakthrough in a disagreement that had lasted more than 18 years. He also praised Keyamo for his role in the negotiations.
He said the settlement would create employment opportunities, improve the airport environment and help address concerns over abandoned projects.
Babalakin pledged that Bi-Courtney would fulfil its obligations under the new arrangement and would not disappoint the President, the aviation ministry, FAAN or the country.
The agreement marks a new phase in the relationship between the Federal Government and the concessionaire, with both sides expected to implement the terms of the settlement.
The Ministry of Aviation and Aerospace Development said the deal represents an important step towards resolving longstanding disputes, strengthening public-private partnerships and attracting investment into Nigeria’s aviation infrastructure.