{
  "id": 15776081,
  "title": "FAAN begins earning revenue from MMA2 as FG, Bi-Courtney resolve 20-year dispute",
  "url": "https://urgent.news/2026/10/20/faan-begins-earning-revenue-from-mma2-as-fg-bi-courtney-resolve-20",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-20T17:50:32.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/faan-begins-earning-revenue-from-mma2-as-fg-bi-courtney-resolve-20-year-dispute/"
  },
  "original_language": "en",
  "account": "The Federal Airports Authority of Nigeria (FAAN) has begun earning revenue from Terminal 2 at Murtala Muhammed Airport (MMA2) following the resolution of a 20-year dispute with Bi-Courtney Aviation Services Limited. Minister of Aviation and Aerospace Development, Festus Keyamo, announced the development during the formalization of the settlement agreement between the Federal Government, FAAN, and Bi-Courtney. The agreement covers the concession agreement for MMA2, related leases for a four-star hotel and conference centre, and the General Aviation Terminal (MMA1).\n\nKeyamo stated that the agreement marks a historic development for Nigeria's aviation sector, resolving a long-standing dispute that had prevented FAAN from earning revenue from MMA2. The dispute originated from the concession agreement signed in 2003, which was initially for 12 years but was later extended to 36 years. Over the years, disagreements over financial claims and contractual obligations led to several court cases across various administrations.\n\nThe settlement addresses the ownership of MMA1, which will remain with the Federal Government and be operated by FAAN. According to the agreement, Bi-Courtney will be allowed to expand its apron and move regional flights within Africa to MMA2, provided the terminal reaches full capacity. Both parties have agreed to waive outstanding claims, including historical financial claims and ancillary payments. The agreement also restores regular payments of concession fees to FAAN and maintains regulatory oversight over security, access, emergencies, and maintenance standards.",
  "summary": "The Federal Airports Authority of Nigeria will now earn revenue from MMA2 following the resolution of its 20-year dispute with Bi-Courtney Aviation Service Read More: https://punchng.com/faan-begins-earning-revenue-from-mma2-as-fg-bi-courtney-resolve-20-year-dispute/",
  "key_points": [
    "FAAN starts earning revenue from MMA2's Terminal 2",
    "20-year dispute between FG, FAAN, Bi-Courtney resolved",
    "Bi-Courtney allowed to expand apron, move regional flights"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "FAAN begins earning revenue from MMA2 as FG, Bi-Courtney resolve 20-year dispute",
        "url": "https://urgent.news/2026/10/20/faan-begins-earning-revenue-from-mma2-as-fg-bi-courtney-resolve-20-15776733",
        "published": "2026-10-20T17:58:32.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}