ICRC’s Ewalefoh says MMA2 concession resolution strengthens investor confidence as government signals commitment to stable PPP agreements.
- +ICRC Hails MMA2 Dispute Resolution, Says It Boosts Investor Confidence
The Director-General, Infrastructure Concession Regulatory Commission (ICRC), Dr.
The Director-General, Infrastructure Concession Regulatory Commission (ICRC), Dr. Jobson Oseodion Ewalefoh, has commended President Bola Tinubu for resolving the long-standing concession dispute over the Murtala Muhammed Airport Terminal Two (MMA2) in Lagos, describing the move as a major boost to investor confidence.
Ewalefoh, in statement said the resolution underscored the administration’s commitment to upholding the sanctity of contracts, which remains a critical factor in positioning Nigeria as a credible and reliable investment destination.
He noted that respect for contractual agreements remained fundamental to building trust among investors, as it guarantees protection of investments within a stable and predictable regulatory environment.
According to him, the president’s intervention represented a decisive breakthrough in a dispute that had persisted across multiple administrations.
The MMA2 impasse stemmed from disagreements between the federal government, through the Federal Airports Authority of Nigeria (FAAN), and Bi-Courtney Aviation Services Limited over the execution of the public-private partnership (PPP) concession agreement.
The dispute largely revolved around clauses on exclusivity and the development of competing or complementary infrastructure within the airport corridor.
Ewalefoh explained that the resolution followed a coordinated process involving the Federal Ministry of Aviation and Aerospace Development, FAAN, Bi-Courtney Aviation Services Limited, and the ICRC, which provided regulatory concurrence in line with established PPP guidelines.
He said the outcome had removed restrictive provisions and restored clarity to the concession framework, thereby opening the door for new aviation infrastructure projects in Lagos, including the proposed Lekki Airport, as well as other commercial and support facilities.
The ICRC boss said, “With the removal of these constraints, Nigeria can now fully explore critical aviation projects that had been stalled, creating new opportunities for growth and investment.”
He emphasised that the development sends a strong signal to both local and international investors that the government is committed to resolving complex disputes through a transparent and forward-looking approach.
He said, “When investors see that a dispute of this magnitude can be resolved effectively, it reinforces confidence in policy stability, regulatory certainty, and respect for agreements—key pillars for successful PPPs.”
He further noted that the resolution would deliver tangible economic benefits, including improved infrastructure utilisation, enhanced operational efficiency, and increased revenue generation for the government.
Ewalefoh also lauded the Minister of Aviation and Aerospace Development, Chief Festus Keyamo, for his leadership and role in facilitating the resolution, describing his engagement as instrumental to achieving the breakthrough.
He commended all stakeholders involved for their collaboration and commitment, which he said made the milestone possible.
Reaffirming the commission’s mandate, he said the ICRC would continue to ensure that all PPP arrangements are implemented in line with established guidelines, with a strong focus on transparency, value for money, and public interest.
He added that the commission would sustain regulatory oversight to ensure future concessions are better structured and aligned with national development priorities.
