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 facilities at the Murtala Muhammed Airport in Lagos.
The agreements were signed on Tuesday at the Abuja office of the Minister of Aviation and Aerospace Development, Festus Keyamo.
In a statement, the ministry said the settlement, approved by the Federal Executive Council on April 30, 2026, covers the management of the Murtala Muhammed Airport Terminal Two (MMA2), the General Aviation Terminal (GAT), and an associated hotel and conference centre.
Speaking at the ceremony, Keyamo said the agreement followed sustained engagements and difficult negotiations, adding that the parties had opted for dialogue and mutual concessions in the national interest.
He said the settlement established a framework for resolving outstanding issues and creating a more predictable relationship between the government and the concessionaire.
Under the agreement, Bi-Courtney will waive all outstanding financial and other claims against the government that have not been settled, while the Federal Government and FAAN will release historical claims against the company, including accumulated concession fees and specified ancillary payments arising before the agreement was executed.
Keyamo described the arrangement as a reciprocal settlement, noting that both parties had agreed to relinquish certain claims to facilitate the implementation of the revised terms.
He added that Bi-Courtney would commence payment of concession fees due under the original agreement upon execution of the settlement.
The minister said the parties would be required to ensure that all payments falling due under the arrangements were properly accounted for and paid.
On the operational provisions, Keyamo said the General Aviation Terminal remained the property of the Federal Government and would continue to be operated by FAAN.
He disclosed that Bi-Courtney would be allowed to expand its apron and operate regional flights within Africa from MMA2, subject to the agreed conditions and operational capacity.
The hotel and conference centre would be covered by restored rights and separate lease agreements, he added.
Keyamo said the government and relevant regulatory agencies would retain their oversight responsibilities, including provisions relating to security access, emergency response and maintenance standards.
According to him, the settlement is expected to boost investor confidence, improve government revenue prospects and generate employment and commercial opportunities in the aviation sector.
He said attention would now shift to implementing the agreements, with the ministry, FAAN and the concessionaire expected to work together through their legal, commercial and technical teams.
Babalakin hails resolution
In his remarks, Wale Babalakin, chairman of Bi-Courtney Limited, commended President Bola Tinubu for facilitating the resolution of the dispute, which he said had lasted more than 18 years.
He also praised Keyamo for his role in securing the agreement.
Babalakin expressed optimism that the settlement would create employment opportunities, improve the airport environment and address concerns surrounding abandoned projects.
“I will not disappoint the president. I will not disappoint the ministry. I will not disappoint FAAN, and I will not disappoint the nation,” he said.
The ministry described the signing as a significant milestone in the government's efforts to resolve longstanding disputes, strengthen public-private partnerships and encourage investment in Nigeria's aviation infrastructure.
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