FG and Bi-Courtney settle long-running airport terminal dispute
The Federal Executive Council has approved a settlement between the Federal Government and Bi-Courtney Aviation Services Limited, ending a prolonged legal and commercial battle over the Murtala Muhammed Airport Terminal Two in Lagos. Festus Keyamo announced that both parties made significant concessions, including Bi-Courtney writing off a substantial judgment debt. The agreement aims to unlock the full commercial potential of the terminal and resolve issues that have stalled other aviation projects. The council also approved the creation of a Nigerian Aircraft Leasing Company to support the aviation industry.
What we know
- The Federal Government and Bi-Courtney agreed to a comprehensive settlement, ending a two-decade dispute over the Lagos airport terminal.
- Festus Keyamo revealed that Bi-Courtney wrote off a N132bn judgment debt and agreed to remove the exclusivity clause from the original concession.
- The Federal Government returned the uncompleted five-star hotel and conference centre to Bi-Courtney, with a 24-month deadline for completion and a shared stake in operations.
- Domestic regional flights will be relocated to MM2, and the Federal Government will expand the apron to accommodate more aircraft.
- The Federal Government will now begin earning its share of revenues from MM2 operations, and a new aircraft leasing company will be established with private sector funding and government backing.
