FAAN Starts Revenue Collection from MMA2 After Dispute Resolution

The Federal Airports Authority of Nigeria (FAAN) has commenced earning revenue from the Murtala Muhammed Airport Terminal 2 (MMA2) following the resolution of a nearly two-decade dispute with Bi-Courtney Aviation Services Limited. Minister of Aviation and Aerospace Development, Festus Keyamo, announced this during the formalization of the settlement agreement, which was approved by the Federal Executive Council under President Bola Tinubu's administration.

Keyamo stated that FAAN had not earned any revenue from MMA2 for the past 20 years due to ongoing disputes. The settlement pertains to the concession agreement for MMA2 and related leases for a nearby hotel and conference center.

The original concession agreement was signed on April 24, 2003, and was intended for 12 years, starting May 7, 2007, but was later extended to 36 years. The resolution allows both parties to move forward under a revised contractual framework, with the General Aviation Terminal remaining under the ownership of the Federal Government and operated by FAAN.