20-Year MMA2 Concession Battle Ends, Boosting Nigeria Aviation PPP Outlook

The Managing Director and Chief Executive of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku, has described the resolution of the long-running concession dispute over the Murtala Muhammed Airport Terminal Two (MMA2), Lagos, as a major breakthrough that will strengthen investor confidence and reshape public-private partnership (PPP) frameworks in Nigeria’s aviation sector.

Kuku made the remarks at the African Air Transport Convention & Expo 2026 in Lomé, Togo, where she emphasized that successful aviation infrastructure delivery depends not only on funding, but also on strong institutions, regulatory certainty, and consistent policy implementation.

Her comments come after confirmation that the federal government has finally resolved a nearly 20-year concession dispute with Bi-Courtney Aviation Services Limited (BASL), operators of MMA2.

The MMA2 concession dispute, which began in the early 2000s, has been one of the most controversial cases in Nigeria’s aviation sector, shaping discussions around airport privatization and PPP agreements. According to reports, the resolution includes a settlement in which BASL will forgo a N130 billion judgement debt, while retaining responsibility for developing a conference centre opposite the MMA2 terminal. The deal effectively ends years of legal battles, regulatory disagreements, and operational uncertainty surrounding one of Nigeria’s most important airport infrastructure projects.

Kuku described MMA2 as one of the most widely discussed concession projects in Nigeria’s aviation history, noting that it generated prolonged uncertainty for investors and policymakers. She said the conclusion of the dispute sends a strong signal to investors that Nigeria is committed to stabilising its aviation PPP framework and improving contract enforcement.

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“It’s now been resolved. What that means is that it provides better investor confidence for those that are looking to drive PPP projects,” she said. She added that future concession agreements will be structured to ensure fairness between government and private investors, reducing the risk of prolonged disputes.

Industry analysts say the resolution could unlock new private sector participation in airport development projects, including terminal upgrades, cargo expansion, and service modernization. They also note that resolving long-standing disputes like MMA2 helps reduce perceived regulatory risk, which has historically discouraged foreign and domestic investment in Nigeria’s aviation infrastructure.

Beyond the MMA2 settlement, Kuku highlighted broader challenges facing aviation development across Africa, including policy inconsistency, funding gaps, and project delivery risks. She called for closer collaboration between governments, development finance institutions, and private investors to bridge Africa’s aviation infrastructure deficit.

Rather than creating new financing institutions, she recommended strengthening existing banks by establishing specialised aviation desks with technical expertise to support structured investments. Kuku also stressed the importance of early-stage engagement between project developers and financiers to ensure bankable infrastructure projects.

Kuku further revealed that FAAN has developed a multi-phase infrastructure roadmap covering short-, medium-, and long-term priorities across Nigeria’s airport network. In the short term, the focus is on stabilising airport operations and improving passenger experience.

Medium- and long-term plans include terminal upgrades, airside development, cargo infrastructure expansion, and modernization of safety systems. She added that FAAN is also evaluating secondary airports and exploring incentive mechanisms, including guarantee schemes, to encourage airline operations on underserved routes.

With the MMA2 concession dispute now resolved after 20 years, stakeholders say attention will shift to implementation, compliance monitoring, and ensuring that the settlement translates into improved efficiency and investor trust in Nigeria’s aviation sector.

20-Year MMA2 Concession Battle Ends, Boosting Nigeria Aviation PPP Outlook

Naira Strengthens Again, Narrowing Gap with Official Exchange Rate

The Naira recorded fresh gains against the United States dollar on Monday, appreciating to N1,394/$ in the parallel market from N1,405/$ recorded at the close of trading last weekend, signaling continued stability in Nigeria’s foreign exchange market.

The local currency also strengthened in the Nigerian Foreign Exchange Market (NFEM), where it appreciated to N1,369/$, according to the latest data released by the Central Bank of Nigeria (CBN).

CBN figures showed that the indicative exchange rate improved from N1,371.50/$ at the previous close to N1,369/$, representing a N2.50 appreciation for the local currency.

The development further narrowed the gap between the official and parallel markets to N25 per dollar, down from N33.50/$ recorded last weekend, a trend analysts say reflects improving confidence in Nigeria’s foreign exchange market and reduced speculative pressure.

Despite the appreciation, trading activity slowed during the session. Interbank turnover in the NFEM declined by 63.4 percent to $65.2 million, compared with the previous trading session, indicating lower demand for foreign exchange even as the naira gained value.

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Market analysts attributed the currency’s improved performance to sustained reforms by the Central Bank of Nigeria, better foreign exchange liquidity, stronger investor confidence and increased dollar supply through official channels.

The recent stability has also helped reduce the premium between the official and parallel markets, encouraging businesses and investors to rely more on formal foreign exchange windows instead of the informal market.

Economists, however, caution that the sustainability of the naira appreciation will depend on continued foreign capital inflows, robust crude oil earnings, adequate external reserves and consistent implementation of monetary and fiscal reforms.

With inflationary pressures gradually easing and foreign exchange liquidity improving, analysts expect the naira exchange rate to remain relatively stable in the short term, although global economic developments and fluctuations in oil prices remain key risks to the outlook.

The latest appreciation reinforces growing optimism that Nigeria’s foreign exchange reforms are beginning to deliver greater market stability and increased confidence among investors and businesses.

Naira Strengthens Again, Narrowing Gap with Official Exchange Rate

Officers Abroad Benefit as FRSC Promotes over 10,000 Personnel in Tech-Driven Exercise 

In a major demonstration of its growing reliance on technology, the Federal Road Safety Corps has conducted a nationwide promotion exercise, enabling officers on academic programmes overseas to participate remotely while deploying surveillance cameras and independent observers to ensure transparency.

The promotion exercise, described by the Corps as one of the largest and most technologically advanced in its history, benefited more than 10,000 personnel.

It covered 3,597 Intermediate Rank Officers and 6,408 Junior Officers across the country, according to a statement issued by the Corps Public Education Officer, Deputy Corps Commander Osondu Ohaeri.

The exercise was conducted under the leadership of the Corps Marshal, Shehu Mohammed, and formed part of ongoing efforts to modernise personnel management and ensure merit-based career progression within the organisation.

A major highlight of the exercise was the successful inclusion of FRSC personnel pursuing academic and professional programmes outside Nigeria.

Through the deployment of advanced Information and Communication Technology (ICT) platforms, officers on study leave abroad were able to participate in the promotion process remotely without disrupting their educational activities.

The Corps said the initiative underscored its commitment to ensuring that no eligible officer was denied career advancement opportunities because of geographical location or personal development commitments.

“This development demonstrates the Corps’ resolve to remove barriers to promotion and create an inclusive system that rewards excellence regardless of where personnel are located,” the statement noted.

To guarantee fairness and credibility, the FRSC introduced real-time monitoring mechanisms, including surveillance cameras deployed across all examination centres and independent observers drawn from the Office of the Secretary to the Government of the Federation and the Federal Character Commission.

The exercise commenced on June 14, 2026, simultaneously across the Corps’ 12 Zonal Commands, with representatives of the Corps Marshal overseeing proceedings to ensure strict compliance with established standards.

The FRSC, the technology-driven promotion system eliminated many of the traditional bottlenecks associated with promotion exercises, enhanced operational efficiency, and provided all eligible personnel with equal opportunities to compete based solely on merit, competence, and performance.

The Corps further stated that the successful conduct of the exercise reflected Corps Marshal Mohammed’s vision of building a highly motivated, professional, and future-ready workforce where hard work, innovation, commitment, and excellence are consistently recognised and rewarded.

Under his leadership, the Corps noted, significant reforms have been introduced to improve personnel welfare, strengthen institutional capacity, and leverage technology to enhance service delivery and internal administrative processes.

The FRSC said the promotion exercise has further boosted staff confidence in the organisation’s career advancement system, while encouraging greater productivity, accountability, and healthy competition among personnel.

The Corps described the successful completion of the exercise as another milestone in its drive to institutionalise global best practices and transform the agency into a modern, digitally driven organisation capable of meeting contemporary public service demands.

It maintained that the promotion process reinforced the principle that professionalism, dedication, and outstanding performance remain the primary pathways to career advancement within the Corps, while supporting its broader objective of building a motivated workforce committed to safer roads and improved service delivery for Nigerians.