In a landmark development for the Nigeria’s aviation sector, the Honourable Minister of Aviation and Aerospace Development, Festus Keyamo SAN, has successfully brokered a historic settlement between the Federal Government and Bi-Courtney Aviation Services Limited, bringing to a close a protracted dispute spanning over two decades.
This is contained in a statement issued on Saturday by Tunde Moshood, Special Adviser On Media and Communications to the Minister.
According to the statement, the resolution of the long-standing disagreement surrounding the Murtala Muhammed Airport Terminal 2 (MM2) was formally approved today by the Federal Executive Council (FEC), marking a significant turning point in Nigeria’s aviation history.
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Under the terms of the negotiated settlement, Bi-Courtney has agreed to write off the N132 billion Supreme Court judgment debt previously owed by the Federal Government. In addition, the company has relinquished the exclusivity clause tied to the MM2 concession and has handed back the Murtala Muhammed Airport Terminal 1 (MM1) to the Federal Government.
In return, the Federal Government has restored to Bi-Courtney the rights to complete and operate the long-stalled hotel and conference centre project on a mutually beneficial revenue-sharing basis.
Furthermore, plans are underway to relocate regional flight operations to MM2, with provisions for apron expansion to accommodate increased traffic where necessary. This strategic move ensures that the Federal Government begins to earn immediate revenue from the revitalized arrangement.
Described as a “win-win” outcome for all parties, the agreement unlocks the full commercial and operational potential of MM2, positioning it as a central hub for regional aviation. It also clears longstanding encumbrances that have hindered broader infrastructure development, including the proposed Lekki International Airport project.
Additionally, the deal aligns with forward-looking reforms in the aviation sector, including plans to establish a private-sector-driven aircraft leasing company aimed at supporting Nigerian airlines with access to modern fleets under competitive terms.
The Honourable Minister, Festus Keyamo, commended all stakeholders for their commitment to dialogue and national interest, emphasizing that the resolution reflects the Federal Government’s dedication to fostering a conducive environment for investment, efficiency, and growth in the aviation industry.
Special recognition is also due to Wale Babalakin, Chairman of Bi-Courtney Aviation Services Limited who’s a distinguished Senior Advocates of Nigeria and member of the Inner Bar with the Honourable Minister, they both leveraged their professional relationship and shared commitment to national development to achieve this breakthrough.
This milestone agreement signals a new era of collaboration between the public and private sectors and underscores the administration’s resolve to remove legacy bottlenecks, enhance infrastructure, and reposition Nigeria as a leading aviation hub in Africa.
