Manny Ita –
The Federal Government has reached a landmark agreement with Bi-Courtney Aviation Services Limited, effectively ending a long-running dispute over the Murtala Muhammed Airport Terminal Two in Lagos.
Minister of Aviation, Festus Keyamo, announced that the deal—approved by the Federal Executive Council—brings closure to one of Nigeria’s most prolonged aviation sector conflicts, which began after the concession of the terminal in 2003.
The disagreement, which led to years of litigation and court rulings (including a Supreme Court judgment in favour of Bi-Courtney), centered on issues such as revenue rights and the scope of the concession agreement.
As part of the settlement, Bi-Courtney agreed to waive a massive N132 billion judgment debt, including accrued interest. In return, the government made several concessions, including removing the exclusivity clause that had previously restricted the development of other private airports around Lagos.
The Federal Government also committed to returning a revoked hotel and conference centre project to the company, setting a new completion timeline, and increasing flight operations at MMA2 to boost its commercial viability. Additionally, the government will now begin to earn revenue from the terminal under the revised terms.
Officials described the agreement as a “give-and-take” resolution that benefits both parties and helps restore investor confidence in Nigeria’s aviation sector. A formal signing ceremony is expected in Lagos, where full details of the agreement will be disclosed.
The minister also revealed plans to introduce a national aircraft leasing framework, backed by private investors and supported by government guarantees, aimed at strengthening the country’s aviation industry.
