The Federal Government has signed settlement agreements with Bi-Courtney Limited, the Federal Airports Authority of Nigeria (FAAN) and Stabilini Visinoni Limited, bringing an end to nearly two decades of legal disputes over the Murtala Muhammed Airport Terminal Two (MMA2) in Lagos and an uncompleted hotel and conference centre opposite the airport.
Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this on Tuesday, following the formal signing of the agreements involving the Federal Government, FAAN and the two private companies.
Keyamo said the settlement followed negotiations initiated about two years ago under the directive of President Bola Tinubu, with the aim of resolving the longstanding disagreements and ending the legal battles that had stalled a resolution.
He said Bi-Courtney Limited was represented at the signing by its principal, Dr Wale Babalakin, and members of his team, while directors of the Ministry of Aviation, the Managing Director of FAAN, the Director-General of the Infrastructure Concession Regulatory Commission (ICRC) and other ministry officials were also present.
According to the minister, the negotiations involved complex legal and commercial issues, which both parties worked to resolve through sustained discussions.
“As members of the Inner Bar, we both brought all our legal knowledge to bear on so many of the complicated and seemingly intractable issues,” Keyamo said, referring to his negotiations with Babalakin.
He added that both sides ensured their respective teams were involved in the process before eventually finding a way to break the deadlock.
The minister explained that the signing followed the approval granted by the Federal Executive Council (FEC) on April 30, 2026, for the negotiated settlement to proceed.
The agreements effectively bring to a close several legal claims and counterclaims that had progressed through different levels of the judiciary, including the Supreme Court.
Keyamo identified increased revenue for the Federal Government and the expansion of MMA2’s operations as some of the immediate benefits of the settlement.
He said the government would, for the first time in nearly 20 years, begin earning its share of revenue from the domestic airport terminal.
The settlement is also expected to pave the way for MMA2 to expand its operations to accommodate regional flights within Africa, potentially broadening the terminal’s role in Nigeria’s aviation sector.
The resolution marks a significant development in the long-running dispute surrounding the airport terminal and the associated hotel and conference centre project, which had remained entangled in legal disagreements for years.
Keyamo credited President Tinubu’s directive and the negotiated approach for making the breakthrough possible.