By LAWANI MIKAIRU & DANIEL ETEGHE

Chairman of Bi-Courtney Aviation Services Limited, Dr Wale Babalakin  has faulted the Federal Government for not keeping to the terms of the concession agreement entered into by both parties in 2003.

Speaking during the 5th year anniversary of Bi- Courtney Aviation Services Limited at a press conference at the Murtala Muhammed Airport Lagos, Dr. Babalakin said that he was even surprise to hear insinuations that Bi- Courtney Aviation Services Limited was given N30billion by the Federal Government to construct the terminal.

According to him, Bi- Courtney Aviation Services Limited did not receive any money from the Federal Government to construct the MMA2 terminal adding that the government was not even truthful to respect the terms of agreement that was signed.

He further explained that within a few years, the company was able to construct and delivered an airport terminal that has become a reference point in the Nigerian aviation industry.

Dr. Babalakin however added that the dwindling clientele at the MMA2 terminal was a result of the non-compliance of the government to the terms of the concession agreement stressing that most of the organisations doing business at the terminal had to withdraw because their financial projections could not be captured by the available passenger traffic at the terminal.

“Government has derailed from the vision of the agreement. That is why we are calling on all stakeholders to support us to achieve PPP in Nigeria. But, we have found out that something is peculiar about the concept of PPP in Nigeria. There is reluctance by new entrants,which is largely due to our bad experience. We will still welcome more Nigerians into PPP” he affirmed.

He also pointed out that the financial institutions where the funds for the construction were sourced have shown considerable understanding over the slow repayment of the loans, which they have realised stems from dwindling revenues at the terminal.

Babalakin said : “ We are not raking in sufficient revenues from MMA2,which is a far cry from our projections and expectations.’’

He  said that the situation had led to the banks getting worried over the returns. ‘’The banks even wrote a letter detailing how the non – compliance of the agreement by government is affecting our operations’’