Nigerian Aviation Handling Company (NAHCO) Plc has set a N300 billion total Group revenue target within the next five years.
Group executive director, International Business & Corporate Services of NAHCO, Dr. Sola Obabori stated this at the Company bell ringing and facts behind the figures ceremony held yesterday in Lagos.
Obabori said “we are embarking on a five-year transformation journey to build a new Nahco, centered around four key pillars; accelerate growth in business, differentiate with operational excellence, lead with digital and deliver a transformed people and culture.”
He added that “we are committed to achieving specific performance goals by 2029, while simultaneously expanding our service offerings.”
On revenue projection, he stated that the Company will achieve N38.49 billion at the end of 2024, N71.12 in 2025, N101.93 billion in 2026, N146.07 billion in 2027, N209.34 billion in 2028 and N300 billion in 2029.
On a subsidiary target to the Group, Obabori explained that “Ground Handling will contribute N120 billion: Cargo Handling to contribute N40 billion, while NAHCO Logistics Services will contribute N36 billion.
“Other subsidiaries are NAHCO Free Zone, NAHCO Commodities, NAHCO Travel & Hospitality, Aviation Academy to boost the Group revenue by N15 billion, N80 billion, N7 billion and N2 billion respectively.”
He added that “this projected growth trajectory compels us to prioritise operational efficiency and performance improvement.”
Obabori pointed out that the African Aviation industry has shown remarkable resilience in recovering from the challenges posed by the COVID-19 pandemic, experiencing steady growth in recent years, saying that the Nigerian market has exhibited resilience and growth, even amidst a challenging economic landscape.
He added that NAHCO has consistently demonstrated its ability to capitalise on expanding markets through innovation and adaptation.
He noted further that the Company is actively taking steps to enhance its performance and operations, adding that “we will prioritise a number of key initiatives aimed at enhancing operational efficiency and significantly improving the company’s financial position.”
The chairman of NAHCO, Seinde Fadeni stated that “as a company that has consistently paid high dividends over the years, NAHCO will continue to seek higher dividends for its shareholders.”
He stated that the Company is making huge investments in manpower and equipment to increase profitability, saying that “we have been taking delivery of brand-new ground support equipment (GSE) to further enhance our service delivery. We have a broad plan to replace the few ageing equipment in our fleet by 2025.”
Fadeni added that NAHCO will continually create and take advantage of opportunities to increase shareholders’ value.
Established in 1979 as a government-owned entity, NAHCO was privatised and subsequently listed on the Nigerian Exchange. The Company offers ground handling service, cargo handling, power distribution, and fueling for Nigeria’s air transport industry.
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