The Federal Airports Authority of Nigeria (FAAN) has begun earning revenue from the Murtala Muhammed Airport Terminal Two (MMA2) in Lagos following the formal settlement of its nearly 20-year dispute with Bi-Courtney Aviation Services Limited.
The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this on Tuesday during the formalization of the settlement involving the Federal Government, FAAN and Bi-Courtney.
Keyamo said the agreement, approved by the Federal Executive Council (FEC) on April 30, 2026, would end years of litigation and restore revenue payments to the government under the terminal’s concession arrangement.
“FAAN had not earned a kobo from MMA2 for the last 20 years because of disputes. Today, FAAN begins to earn its money from MMA2,” he said.
The dispute dates back to a 2003 concession agreement covering the design, construction, operation and eventual transfer of the domestic terminal. Disagreements over financial claims, contractual obligations and airport facilities led to prolonged legal battles.
Under the settlement, both parties have agreed to waive specified outstanding claims. Previous reports said Bi-Courtney also agreed to write off a N132 billion judgment debt, including accumulated interest, in exchange for concessions from the government.
The General Aviation Terminal will remain federal government property and be operated by FAAN. Bi-Courtney will also be allowed to expand its aircraft parking apron and accommodate regional flights within Africa, subject to the terminal’s capacity.
The agreement further restores arrangements for the development of a four-star hotel and conference centre near the airport, whose construction has remained stalled for years.
Keyamo said the settlement followed negotiations with Bi-Courtney chairman, Wale Babalakin, and was designed to improve government revenue, encourage investment and create jobs.
Babalakin welcomed the resolution, saying the dispute had remained unresolved for more than 18 years despite the issues being largely unchanged.
He said the agreement would create well-paying jobs and improve the airport’s appearance through the completion of abandoned projects.
Keyamo urged both parties to ensure that the settlement translates into completed facilities, improved airport operations and better services for passengers.
