FG and Bi-Courtney End 20-Year MMA2 Dispute with N132bn Debt Write-Off
The Federal Executive Council has approved a settlement that ends a two-decade legal battle over the Murtala Muhammed Airport Terminal Two in Lagos. Under the agreement, Bi-Courtney Aviation Services has written off a N132bn judgment debt plus interest dating back to 2009. The deal also removes Bi-Courtney’s exclusivity clause, clearing the way for new private airports like Lekki. Bi-Courtney will hand back the domestic terminal to the government and complete an uncompleted hotel and conference centre opposite MMA2 within 24 months, operating it alongside the FG. In return, the government will relocate regional flights to MMA2, expand its apron if needed, and begin earning its revenue share immediately. A formal signing ceremony with all stakeholders will be held soon in Lagos. The council also approved setting up a government-backed aircraft leasing company funded by private investors. This vehicle aims to help Nigerian airlines secure long-term leases with sovereign guarantees, reducing their reliance on costly wet leases.
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