FAAN Starts Revenue Collection from MMA2 After Settlement
The Federal Airports Authority of Nigeria (FAAN) has commenced revenue collection from Murtala Muhammed Airport Terminal Two (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 development in Abuja 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 revenue from MMA2 for the past 20 years due to ongoing disputes. The settlement includes the concession agreement for MMA2 and related leases for a nearby four-star hotel and conference center.
The original concession agreement was signed on 24 April 2003 and was initially for 12 years, later extended to 36 years. Disagreements over financial claims led to multiple court cases.
The Supreme Court affirmed that the General Aviation Terminal (MMA1) should be handed over to Bi-Courtney, but under the new settlement, it will remain under FAAN's operation.
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