Tinubu strengthens investor confidence with MMA2 resolution, says ICRC DG
The Infrastructure Concession Regulatory Commission (ICRC) has said the recent resolution of the decades-long legal battle surrounding the Murtala Muhammed Airport Terminal Two (MMA2) marks a turning point for Nigeria’s
The Infrastructure Concession Regulatory Commission (ICRC) has said the recent resolution of the decades-long legal battle surrounding the Murtala Muhammed Airport Terminal Two (MMA2) marks a turning point for Nigeria’s investment landscape and the future of aviation infrastructure.
ICRC’s Director-General, Dr. Jobson Oseodion Ewalefoh, spoke yesterday in Abuja on the significance of the resolution to the sector.
He noted that the Federal Government’s decision to respect contractual agreements serves as the bedrock for building investor confidence.
The ICRC boss said such actions provide stakeholders with the assurance that their capital is secure within a stable and predictable regulatory environment.
Ewalefoh praised President Bola Ahmed Tinubu for protecting the sanctity of contracts by ending the stalemate between the Federal Government and Bi-Courtney Aviation Services Limited.
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He described the President’s action as a masterstroke that effectively cleared a hurdle that had persisted through several past administrations.
“With the removal of restrictive provisions and the restoration of clarity within the concession framework, Nigeria can now fully explore the development of new aviation infrastructure within Lagos State, including projects, such as the proposed Lekki Airport, as well as complementary commercial and support facilities around existing terminals,” Ewalefoh said.
The MMA2 dispute originated from disagreements between the Federal Airports Authority of Nigeria (FAAN) and Bi-Courtney on the exclusivity clauses and the construction of competing facilities within the Lagos airport corridor.
The resolution now paves the way for a more collaborative approach to infrastructure expansion.
The ICRC director-general explained that the President’s resolution proves his administration’s dedication to solving complex industrial issues and maintaining a reliable atmosphere for business.
“When investors see that a dispute of this magnitude can be resolved through a balanced and forward-looking approach, it sends a powerful message about policy stability, regulatory certainty, and respect for agreements. These are the foundations upon which successful Public-Private Partnerships (PPPs) are built,” he stated.
According to him, the President’s commitment to the rule of law is central to this outcome as the process involved a coordinated effort between the Federal Ministry of Aviation and Aerospace Development, the ICRC, and the concessionaire to reach a framework that aligns with established PPP guidelines.
He noted that the resolution provides immediate benefits to the Nigerian economy, including better use of existing infrastructure, higher operational efficiency, and increased revenue potential.
“This resolution is in the interest of everyone—the government, the concessionaire, the investing community, and ultimately the Nigerian people who rely on efficient and modern infrastructure,” the DG said.
Acknowledging the roles played by various officials, Ewalefoh credited the Minister of Aviation and Aerospace Development, Mr. Festus Keyamo (SAN), for his leadership and technical expertise in navigating the impasse.
He also thanked the various stakeholders whose collaborative efforts brought the long-standing issue to a close.
Looking ahead, the ICRC boss assured the nation that the commission remained dedicated to ensuring all PPP arrangements follow strict guidelines focused on transparency, public interest, and value-for-money.
“The ICRC will continue to provide the regulatory guidance required to sustain this momentum, ensuring that future concessions are better structured, better managed, and better aligned with national development priorities,” Ewalefoh added.
