The Nigerian Aviation Handling Company (NAHCO) Plc has unveiled an ambitious five-year strategic plan aimed at pushing its turnover beyond ₦300 billion, leveraging diversification, digital transformation, and operational upgrades.
At its Annual General Meeting held over the weekend, the company announced the approval of ₦11.58 billion in cash dividends for the 2024 business year, representing ₦5.94 per share—a 134% increase from ₦4.95 billion paid in 2023.
Chairman of NAHCO, Dr. Seinde Oladapo Fadeni, said the company is fully committed to implementing its growth blueprint, which is already yielding strong results. He highlighted the group’s performance for 2024 as a sign of what lies ahead for shareholders, noting NAHCO’s strengthened position in ground handling and its expansion into new business frontiers.
“The year was one of tremendous progress, marked by significant achievements and a renewed sense of purpose across all facets of our operations,” Fadeni stated.
According to the audited report for the year ended December 31, 2024, NAHCO’s profit before tax surged by 115.4% to ₦18.70 billion, compared to ₦8.68 billion in 2023. Total revenue rose by 88.5% from ₦28.40 billion to ₦53.54 billion, while gross profit jumped 120.5% to ₦33.08 billion. Operating profit climbed by 123.9% to ₦19.84 billion, signaling robust core business growth.
Fadeni revealed ongoing investments in next-generation technology, including Oracle ERP and HCM systems, aimed at enhancing operational efficiency. He also noted the company’s fleet renewal strategy, with a target to replace all ageing equipment by December 2025.
Further diversification includes plans to build a hotel and expand its commodities export business, supported by the commissioning of Nigeria’s first NAHCO Export Packaging and Processing Centre in Lagos.
NAHCO Group Managing Director, Mr. Olumuyiwa Olumekun, emphasized operational achievements such as recertification in Lagos, Abuja, and Kano stations, and reaffirmed the company’s focus on growth pillars like ESG, digitization, and staff welfare. This includes a recent 50% salary increase, profit-sharing, and bonus schemes.
Shareholders praised the board for its outstanding performance and returns, with many describing NAHCO as one of the most rewarding investments in Nigeria’s capital market.
