The Nigerian Aviation Handling Company (NAHCO) Plc has declared a cash dividend of ₦11.58 billion for the 2024 business year, marking a 134 percent increase from the ₦4.95 billion paid in 2023. This follows the company’s strongest financial performance to date, as pre-tax profit more than doubled to ₦18.70 billion and revenue surged by 88.5 percent to ₦53.54 billion.
According to its audited results filed on the Nigerian Exchange, net profit rose by 132 percent to ₦12.86 billion, up from ₦5.54 billion in 2023. Consequently, earnings per share climbed to ₦6.60, compared to ₦2.84 last year. Shareholders are set to receive a dividend of ₦5.94 per share, pending approval at the upcoming Annual General Meeting.
The company’s performance was driven by exceptional growth across all its business segments. Ground handling revenue rose to ₦36.60 billion, while profit increased significantly to ₦22.64 billion. Cargo handling income grew to ₦9.96 billion, with profit reaching ₦5.52 billion. Revenue from other businesses doubled to ₦6.98 billion, accompanied by a rise in profit to ₦3.67 billion.
Total assets rose to ₦46.95 billion, up from ₦27.31 billion in 2023, while shareholders’ funds increased by 65.5 percent to ₦20.07 billion. Retained earnings grew by 84.1 percent from ₦9.40 billion to ₦17.31 billion.
NAHCO’s share price has also surged, rising from ₦25.40 at the start of 2024 to ₦69.90, reflecting a capital gain of 175 percent in just 15 months and underscoring strong investor confidence.
In February 2025, the company achieved a major industry milestone with federal government approval to handle shipments containing radioactive materials. The approval, granted by the Nigerian Civil Aviation Authority and the Nigerian Nuclear Regulatory Authority, followed a rigorous assessment of NAHCO’s facilities, safety protocols, and trained personnel.
Looking ahead, NAHCO has unveiled a five-year growth plan with a target of ₦300 billion in revenue by 2029. The strategy is centered around accelerating business growth, enhancing operational excellence, driving digital transformation, and cultivating a high-performing workforce.
Chairman Dr. Seinde Fadeni expressed optimism about the company’s trajectory, citing ongoing investments and emerging opportunities as key to achieving sustained profitability and stronger returns for shareholders. He reaffirmed NAHCO’s commitment to delivering superior value as one of the most investor-friendly stocks in the Nigerian capital market.
The NAHCO Group operates a diversified business portfolio spanning aviation ground handling, airport management, cargo logistics, training, free trade zone operations, energy, hospitality, and commodity exports.
