Tinubu Resolves MMA2 Concession Dispute, Boosts Investor Confidence – ICRC DG

Director General of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Ewalefoh, has commended President Bola Tinubu for resolving the concession dispute over Murtala Muhammed Airport Terminal Two (MMA2) in Lagos.

In a statement issued on Sunday, Ewalefoh said the president’s action demonstrated commitment to upholding contracts and strengthening investor confidence.

He noted that the resolution signals to local and international investors that Nigeria remains a reliable investment destination.

“Respect for contractual agreements is fundamental to building investor confidence, as it assures stakeholders that their investments are protected within a stable and predictable regulatory environment,” Ewalefoh said.

The dispute involved the Federal Airports Authority of Nigeria (FAAN) and Bi-Courtney Aviation Services Limited over the Public-Private Partnership (PPP) agreement, particularly clauses on exclusivity and competing infrastructure.

Ewalefoh stated that the resolution followed a process involving the Federal Ministry of Aviation and Aerospace Development, Bi-Courtney, and the ICRC, which provided concurrence under PPP guidelines.

With restrictive provisions removed, the agreement now allows the development of new aviation infrastructure in Lagos, including the proposed Lekki Airport and complementary facilities.

Ewalefoh said the outcome reinforces policy stability and regulatory certainty, which are essential for successful PPPs.

He added that it would bring benefits such as improved infrastructure use, greater operational efficiency, and increased revenue for the government, concessionaire, investors, and the public.

Ewalefoh also commended Aviation Minister Festus Keyamo for his role, along with other stakeholders for their collaboration.

The ICRC reaffirmed its commitment to the PPP guidelines, emphasising value for money, transparency, and public interest.

“The ICRC will continue to provide regulatory guidance to ensure future concessions align with national development priorities,” he said.