ICRC Resolves MM2 Concession Dispute, Boosts Aviation Investment

The Infrastructure Concession Regulatory Commission (ICRC) has announced the resolution of the MM2 concession dispute, which involved disagreements between the Federal Government and the Federal Airports Authority of Nigeria (FAAN) regarding the implementation of a Public-Private Partnership (PPP) agreement. The Director General of ICRC, Sundai, highlighted that this resolution sends a strong signal to local and international investors about Nigeria's reliability as an investment destination.

The agreement, which was coordinated with the Federal Ministry of Aviation and Bi Courtnei Aviation Services, aims to remove restrictive provisions and restore clarity within the concession framework. This development is expected to facilitate the exploration of new aviation infrastructure projects in Lagos State, including the proposed Lekki Airport.

The ICRC reaffirmed its commitment to ensuring that PPP arrangements are implemented in line with established guidelines, emphasizing value for money and public interest.