– Bi-Courtney wrote off the N132bn Supreme Court judgment debt, dropped the exclusivity clause, and handed MM1 back to FG.
By Biola Lawal
Abuja (FLOWERBUDNEWS): Nigeria’s 20-year old dispute with Bi-Courtney has now been resolved by President Bola Ahmed Tinubu administration, with Bi-Courtney writing off the N132bn Supreme Court judgment debt.
A statement shared by Bayo Onanuga, the President’s Special Adviser on Information and Strategy, disclosed that:
The 20-year MM2 dispute was resolved today (Friday) via a negotiated settlement approved by the Federal Executive Council.
Bi-Courtney wrote off the N132bn Supreme Court judgment debt, dropped the exclusivity clause, and handed MM1 back to FG.
In exchange, FG returned the hotel/conference centre project (to complete & operate on shared basis), will shift regional flights to MM2 (with apron expansion if needed), and immediately starts earning revenue share.
Onanuga described the settlement as a ”Win-win deal.’:
He disclosed further:
This Deal also unlocks MMA2’s full potential, clears the path for Lekki Airport, and includes plans for a private-sector-driven aircraft leasing company to support Nigerian airlines.
Kudos To the honourable Minister of Aviation and Aerospace, notably, Minister @fkeyamo and Wale Babalakin @WaleBabalakin @Babalakinandco , both SANs and members of the Inner Bar, played a key role, leveraging their relationship to reach this breakthrough.
This is another win for this administration in the aviation sector