The Chairman of Bi-Courtney Aviation Services Limited (BASL), Dr. Wale Babalakin, SAN, has commended President Bola Ahmed Tinubu for facilitating the resolution of the nearly two-decade dispute over the concession of the Murtala Muhammed Airport Terminal Two (MMA2) in Lagos, describing the settlement as a victory for Nigeria and a significant step towards restoring investor confidence.
Babalakin gave the commendation following the signing of a settlement agreement between the Federal Government, the Federal Airports Authority of Nigeria (FAAN), Bi-Courtney Limited and Stabilini Visinoni Limited. He attributed the breakthrough to President Tinubu’s intervention through the Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, noting that the resolution demonstrated the possibility of settling longstanding commercial disputes through dialogue and constructive engagement. According to him, prolonged disagreements between government agencies and private investors could discourage investment, while the new agreement would provide opportunities for infrastructure development, employment generation and improved airport services.
Under the settlement, the parties have agreed to reciprocal concessions aimed at resolving outstanding financial and operational disputes. Bi-Courtney will waive specified claims against the Federal Government, while the government and FAAN will relinquish certain historical claims against the company. The agreement also confirms that the General Aviation Terminal will remain under FAAN’s control, while permitting Bi-Courtney to expand MMA2’s apron and introduce regional flight operations within Africa, subject to operational capacity and applicable requirements. It further provides a framework for completing the proposed hotel and conference centre, projects Babalakin said would create quality employment opportunities in construction, engineering, hospitality and related sectors. Assuring the government and Nigerians of the company’s commitment to implementing the agreement, Babalakin pledged that Bi-Courtney would fulfil its obligations and work with relevant stakeholders to realise the full potential of MMA2.
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