The Minister of Aviation and Aerospace Development, Festus Keyamo has successfully brokered settlement between the federal government and Bi-Courtney Aviation Services Limited, bringing to a close a protracted dispute spanning over two decades.
The resolution of the long-standing disagreement surrounding the Murtala Muhammed Airport Terminal 2 (MM2) was formally approved by the Federal Executive Council (FEC), marking a significant turning point in Nigeria’s aviation history.
Keyamo in a statement issued on Friday by his Special Adviser on Media, Tunde Moshood said 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.
Keyamo noted: “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, he said 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,” he said.
Keyamo, commended all stakeholders for their commitment to dialogue and national interest, emphasising that the resolution reflected the federal government’s dedication to fostering a conducive environment for investment, efficiency, and growth in the aviation industry.