The Minister of Aviation and Aerospace Development, Festus Keyamo, has successfully mediated a historic settlement between the Federal Government and Bi-Courtney Aviation Services Limited, bringing to a close a protracted dispute that has spanned more than two decades.
The resolution of the long-running disagreement over the concession of the Murtala Muhammed Airport Terminal 2 (MM2) received formal approval from the Federal Executive Council (FEC) on Wednesday, marking a decisive turning point in the nation’s aviation history.
Under the terms of the agreement, Bi-Courtney has agreed to forgo its N132 billion Supreme Court judgment debt previously owed by the Federal Government – an unprecedented concession that significantly eases the government’s financial burden.
In addition, the company has relinquished the exclusivity clause attached to the MM2 concession, while also handing back control of the Murtala Muhammed Airport Terminal 1 (MM1) to the Federal Government.
In exchange, the Federal Government has restored to Bi-Courtney the rights to complete and operate the long-delayed hotel and conference centre project within the airport precinct, under a mutually beneficial revenue-sharing arrangement.
As part of the renewed framework, plans are underway to relocate regional flight operations to MM2. This move will be complemented by apron expansion where necessary to accommodate increased aircraft traffic.
Officials say the restructuring is designed to optimise the terminal’s capacity and enable the Federal Government to begin earning immediate revenue from the revitalised concession.
Industry observers note that this development positions MM2 as a potential hub for regional aviation, unlocking both its commercial viability and operational efficiency.
Clearing the Path for Future Projects
The agreement has also cleared long-standing legal and structural encumbrances that have hindered broader infrastructure ambitions in the sector.
Notably, it paves the way for progress on critical projects such as the proposed Lekki International Airport, which has faced delays partly due to unresolved concession disputes.
Furthermore, the deal aligns with ongoing reforms aimed at modernising Nigeria’s aviation industry, including plans to establish a private-sector-driven aircraft leasing company.
The initiative is expected to support domestic airlines with access to modern fleets under competitive terms, thereby strengthening the country’s aviation ecosystem.
Keyamo Commends Stakeholders
Speaking on the development, Keyamo commended all parties involved for prioritising dialogue and national interest.
He emphasised that the agreement reflects the Federal Government’s commitment to creating a conducive environment for investment, operational efficiency, and sustainable growth in the aviation sector.
Special recognition was also extended to Wale Babalakin, Chairman of Bi-Courtney Aviation Services Limited and a Senior Advocate of Nigeria, whose collaboration with the Minister was instrumental in achieving the breakthrough.
Both men, members of the legal profession’s Inner Bar, were said to have leveraged their professional rapport and shared vision for national development in resolving the impasse.
A New Era for Public-Private Collaboration
The settlement is widely regarded as a “win-win” outcome, signalling a new era of cooperation between the public and private sectors in Nigeria’s aviation landscape.
Analysts believe the resolution will not only enhance infrastructure development but also reposition Nigeria as a leading aviation hub in Africa.
With decades-old bottlenecks finally dismantled, stakeholders are optimistic that the sector is poised for accelerated growth, improved investor confidence, and enhanced service delivery for passengers.
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