The federal government has reached a negotiated settlement with Bi-Courtney Limited and Stabilini Visinoni Limited over the Murtala Muhammed Airport Terminal Two concession in Lagos, bringing a prolonged legal and commercial dispute closer to an end.
Aviation and Aerospace Development Minister Festus Keyamo said the settlement, approved by the Federal Executive Council on April 30, 2026, would allow the Federal Airports Authority of Nigeria to resume collecting concession payments from MMA2 under a revised arrangement.
According to the minister, the parties agreed to waive specified historical claims against one another, including outstanding claims by the concessionaire and certain accumulated payments claimed by the government and FAAN. He described the agreement as a fresh basis for cooperation rather than a continuation of the previous litigation.
The settlement also recognises the General Aviation Terminal, commonly called MM1, as a federal government facility operated by FAAN. Bi-Courtney is to be allowed to expand apron capacity and potentially accommodate regional flights at MMA2, subject to applicable conditions.
Keyamo said the agreement would help revive the long-abandoned hotel and conference centre projects near the airport. He urged Bi-Courtney Chairman Wale Babalakin to complete the facilities, arguing that the projects could improve the airport environment and generate jobs.
The dispute arose from a concession agreement signed in 2003 and subsequent disagreements over operations, financial entitlements and related facilities. Both sides said the new settlement could restore investor confidence, but its practical success will depend on implementation, construction progress and renewed payments.
