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’s bell ringing and facts behind the figures’ held in Lagos.
In achieving this, 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 would 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 would 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 will contribute N15 billion, N80 billion, N7 billion and N2 billion.”
According to him, the projected growth trajectory compels the Commission to prioritize operational efficiency and performance improvement.”
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. Fadeni said to do that, the Company has to increase profitability and ensure huge investments in manpower and equipment.”
‘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. NAHCO will continually create and take advantage of opportunities to increase shareholders’ value.”
Also, the CEO of Nigerian Exchange, Jude Chiemeka said “NACHO has leveraged the NGX platform to share its financial performance, operational development, strategic initiatives as well as providing timely and accurate information to enhance trust among the NGX members.”
Olusola Akintonde
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