Nigerian Government and Bi-Courtney Settle 20-Year Legal Battle in Aviation

The Nigerian government has announced a significant settlement with Bi-Courtney Aviation Services Limited, ending a legal dispute that lasted for 20 years. This agreement was revealed by the Minister of Aviation and Aerospace Development, Festus Keyamo, after the Federal Executive Council approved the settlement.

As part of the deal, Bi-Courtney has agreed to write off a large judgment debt of about N132 billion, which included interest claims against the government. In return, the government has lifted exclusive clauses and restored certain concessions, allowing it to earn revenue from the operations of the Murtala Muhammed Airport Terminal Two (MM2).

Keyamo also mentioned plans for a new initiative to create an aircraft leasing company with support from international investors. This move aims to address challenges faced by local airlines and help them compete against foreign companies.

The government hopes these changes will lead to job creation, improvements in airport facilities, and help Nigerian airlines regain their market position.