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🇳🇬 Nigeria /Economy & Trade

ICRC boss hails Tinubu for resolving years-long MMA2 concession dispute

From The Punch · (6m ago) English Positive tone

Summarized and contextualized by DistantNews.

TLDR

  • The Director-General of Nigeria's Infrastructure Concession Regulatory Commission (ICRC), Jobson Ewalefoh, commended President Bola Tinubu for resolving a long-standing concession dispute over the Murtala Muhammed Airport Terminal Two (MMA2).
  • Ewalefoh stated that the resolution boosts investor confidence by demonstrating a commitment to the sanctity of contracts and a stable regulatory environment in Nigeria.
  • The dispute involved the Federal Government and Bi-Courtney Aviation Services Limited, and its resolution is expected to pave the way for new aviation infrastructure investments, including the proposed Lekki Airport.

Nigeria's Infrastructure Concession Regulatory Commission (ICRC) has lauded President Bola Tinubu's decisive action in settling the protracted concession dispute concerning the Murtala Muhammed Airport Terminal Two (MMA2) in Lagos. ICRC Director-General Jobson Ewalefoh described the President's intervention as a significant boost to investor confidence, underscoring Nigeria's commitment to upholding contractual agreements and fostering a stable regulatory climate.

The MMA2 dispute, which had lingered across multiple administrations, involved complex issues between the Federal Government, represented by the Federal Airports Authority of Nigeria (FAAN), and the concessionaire, Bi-Courtney Aviation Services Limited. Ewalefoh highlighted that the resolution was achieved through a collaborative effort involving the Federal Ministry of Aviation and Aerospace Development, the concessionaire, and the ICRC itself, which provided crucial regulatory concurrence.

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.

— Jobson EwalefohHighlighting the positive implications of the MMA2 concession dispute resolution for future aviation development.

This landmark resolution is anticipated to remove previous restrictive clauses within the concession framework, thereby opening avenues for substantial new investments in aviation infrastructure. Ewalefoh specifically mentioned the potential development of projects like the proposed Lekki Airport as a direct benefit. The ICRC chief hailed the outcome as a "masterstroke" that not only ends a protracted legal battle but also reaffirms Nigeria's credibility as an investment destination, strengthening trust in Public-Private Partnership (PPP) arrangements.

masterstroke

— Jobson EwalefohDescribing the resolution of the MMA2 concession dispute.
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Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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