Wale Babalakin’s Sacrifice: The Price of Ending a Two-Decade Airport War

The saga between Dr Wale Babalakin and the Nigerian government over Lagos’ Murtala Muhammed Airport Terminal Two (MMA2) reached a conclusion on October 20, 2026. Babalakin, chairman of Bi-Courtney Group, signed away a N132 billion award, approximately $96.7 million, in exchange for peace. The dispute had dragged on for two decades.

The federal government had never paid the award nor its interest, and Aviation Minister Festus Keyamo had warned Babalakin that "nobody is going to pay you that." A judgment without enforcement is merely a figure on paper. For his sacrifice, Babalakin gained important assets. Bi-Courtney was granted permission to expand the airport apron and commence regional flights across Africa, regaining the hotel and conference center opposite the terminal.

In addition, the Federal Airports Authority of Nigeria (FAAN) dropped its claims for unpaid concession fees. Babalakin also relinquished his exclusive control over domestic flights in Lagos, a concession FAAN argued was unjustified given the lack of revenue from MMA2 over the past two decades due to the prolonged disputes.

MMA2 marked Nigeria's first major build-operate-transfer airport project, where a private firm constructs and operates a facility for a set period before transferring ownership. Babalakin, however, had a legal background, having studied law at the University of Lagos, earned a Cambridge doctorate at the age of 26, and established his own firm in 1987. He was appointed a Senior Advocate of Nigeria in 2002, which provided him with a deep understanding of the value of legal judgments when debtors fail to pay their dues.

While the N132 billion could be viewed as the government's net saving, it's crucial to note that Bi-Courtney received concessions in return. Thus, Babalakin traded a claim that was unlikely to be honored for an airport that holds the potential to earn revenue, marking a significant shift in the landscape of Nigerian aviation.