{
  "id": 15776733,
  "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",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-20T17:58:32.000Z",
  "source": {
    "name": "Punch",
    "slug": "punch",
    "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 started generating revenue from Terminal 2 of Murtala Muhammed Airport (MMA2) following the resolution of a 20-year dispute with Bi-Courtney Aviation Services Limited. The Minister of Aviation and Aerospace Development, Festus Keyamo, announced this during the formalization of the settlement agreement between the Federal Government, FAAN, and Bi-Courtney. The agreement covers the concession agreement for MMA2, as well as leases for a four-star hotel and conference center near the airport.\n\nThe dispute began when Bi-Courtney claimed that it had not received promised benefits under the concession agreement signed in 2003, while FAAN argued that it was entitled to financial compensation. Keyamo emphasized that the settlement, approved by the Federal Executive Council under President Bola Tinubu's administration, marks a historic development for Nigeria's aviation sector. The agreement also deals with the General Aviation Terminal (GAT), known as MMA1, and the ownership of the terminal, which remains with the federal government and is operated by FAAN.\n\nUnder the new settlement, both parties will waive outstanding claims against each other, including historical financial claims and ancillary payments. FAAN will resume regular payments of concession fees under the original agreement, while the government will retain regulatory oversight over security, access, emergencies, and maintenance standards. The settlement also addresses the leases for the four-star hotel and conference center, which were terminated in 2012 due to alleged unfinished construction.",
  "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": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch Nigeria",
        "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",
        "published": "2026-10-20T17:50:32.000Z"
      }
    ]
  },
  "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."
}