The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, has overseen the signing of landmark agreements to resolve the longstanding disputes between the Federal Government, the Federal Airports Authority of Nigeria (FAAN), Bi-Courtney Limited and Stabilini Visinoni Limited.
The agreements were signed on Tuesday, 20 October 2026, at the Minister’s Conference Room in Abuja, marking a significant step towards ending years of litigation and resolving competing financial claims relating to the management and development of key facilities at the Murtala Muhammed Airport, Lagos.
He stated that the settlement, which received the approval of the Federal Executive Council (FEC) on 30 April 2026, covers the management of the Murtala Muhammed Airport Terminal Two (MMA2), the General Aviation Terminal (GAT), and the associated hotel and conference centre.
Speaking at the signing ceremony, Keyamo described the agreement as the outcome of sustained engagement and challenging negotiations, noting that the parties had chosen dialogue and mutual concessions in the national interest.
He explained that the settlement provides a framework for resolving outstanding issues and establishing a more predictable working relationship between the government and the concessionaire.
Under the terms of the agreement, Bi-Courtney Limited is said to waive its outstanding claims against the government, while the Federal Government and FAAN will relinquish specified historical claims against the concessionaire. The reciprocal concessions are intended to bring closure to the disputes and provide a clear basis for future cooperation.
The Minister reaffirmed that the General Aviation Terminal remains the property of the Federal Government and will continue to be operated by FAAN. He added that Bi-Courtney would be permitted to expand its apron and operate regional flights within Africa from MMA2, subject to the agreed terms and operational capacity.
He further disclosed that the associated hotel and conference centre would be governed by separate lease agreements, while the government and relevant regulatory authorities would retain their oversight responsibilities for airport security, emergency response and maintenance standards.
According to the Minister, the settlement is expected to strengthen investor confidence, improve government revenue prospects and stimulate employment and commercial activities within the aviation sector.
He, however, emphasised that the anticipated benefits would depend on the parties’ commitment to fulfilling their respective financial, construction and operational obligations under the agreements.
Keyamo commended President Bola Ahmed Tinubu for his leadership and role in facilitating the resolution, as well as the Federal Executive Council for approving the settlement framework.
He also acknowledged the contributions of FAAN’s Managing Director, Mrs Olubunmi Kuku; the management and legal teams involved in the negotiations; Dr Wale Babalakin, SAN, Chairman of Bi-Courtney Limited, and the representatives and advisers of the companies concerned.
Keyamo stressed that the focus would now shift from negotiation to implementation, expressing optimism that the agreement would lead to the completion of outstanding facilities, improved service delivery and a sustainable working relationship between FAAN and Bi-Courtney.
He noted that the ultimate objective was to ensure that the settlement translated into tangible benefits for passengers, airport users, investors and the Nigerian public.
In his remarks, Dr. Wale Babalakin, SAN, commended President Tinubu for facilitating the resolution of the dispute, which he described as having lasted more than 18 years. He also praised the Minister of Aviation and Aerospace Development for his role in achieving the breakthrough.
Babalakin said the resolution would create quality employment opportunities, improve the appearance of the airport environment and help address concerns surrounding abandoned projects.
He further observed that the agreement demonstrated the value of sustained engagement and constructive negotiations in resolving longstanding disputes between the government and private-sector investors.
The Bi-Courtney Chairman assured the President, the Ministry, FAAN and the Nigerian public of the company’s commitment to honouring its obligations under the agreement.
The signing of the agreements represents an important milestone in the government’s efforts to resolve legacy disputes, strengthen public-private sector partnerships and promote investment in Nigeria’s aviation infrastructure.
The Ministry of Aviation and Aerospace Development, has been urged to work with the relevant stakeholders to ensure effective implementation of the agreements in accordance with their terms and applicable regulatory requirements.
Chindaya Ahmadu Audu Adamu
Director, Press and Public Affairs
