Nigerian Aviation Handling Company (NAHCO) Plc has said it plans to prioritize operational efficiency and improve performance, and that the group revenue was targeting revenue of N300 billion in 2029, according to its five-year business plan.
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 on the floor of the Nigerian Exchange Limited 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.
“We are committed to achieving specific performance goals by 2029, while simultaneously expanding our service offerings.”
On revenue projection, he stated: “the Company will achieved N38.49 billion at the end of 2024, N71.12 billion in 2025, N101.93 billion in 2026, N146.07 billion in 2027, N209.34 billion in 2028 and N300 billion in 2029.”
Giving some breakdown of the revenue projection Obabori explained, “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 will contribute N15 billion, N80 billion, N7 billion and N2 billion,” adding that the company predicts a growth pattern in the coming years that will compel it to seek higher dividends for its shareholders.
The chairman of NAHCO, Dr. 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”.
The CEO of Nigerian Exchange, Jude Chiemeka extolled NAHCO for leveraging 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.