The Nigerian Aviation Handling Company Plc (NAHCO) has unveiled a bold five-year plan to achieve a total group revenue target of N300 billion by 2029. This strategic ambition was announced during the company’s “bell ringing and facts behind the figures” event held in Lagos, with key stakeholders in attendance.
Dr. Sola Obabori, NAHCO’s Group Executive Director for International Business & Corporate Services, outlined the company’s vision for a transformational journey structured around four strategic pillars: accelerating business growth, achieving operational excellence, leveraging digital innovation, and cultivating a transformative people-centric culture.
According to Obabori, NAHCO’s projected revenue growth is set to progress steadily, with N38.49 billion expected in 2024, rising to N71.12 billion in 2025, N101.93 billion in 2026, N146.07 billion in 2027, N209.34 billion in 2028, and culminating in N300 billion by 2029.
The revenue targets include contributions from several subsidiaries:
- Ground Handling: N120 billion
- Cargo Handling: N40 billion
- NAHCO Logistics Services: N36 billion
- NAHCO Free Zone: N15 billion
- NAHCO Commodities: N80 billion
- NAHCO Travel & Hospitality: N7 billion
- Aviation Academy: N2 billion
Obabori emphasized the importance of operational efficiency and continuous performance improvements, stating, “This projected growth trajectory compels us to prioritize operational efficiency and performance improvement.”
Reflecting on the resilience of the African aviation sector post-COVID-19, Obabori highlighted the Nigerian market’s growth despite a challenging economic environment. He attributed NAHCO’s success to its ability to innovate and adapt to expanding market opportunities.
The company’s Chairman, Seinde Fadeni, underscored NAHCO’s commitment to enhancing shareholder value, noting its history of paying high dividends. “To continue delivering higher dividends, we must increase profitability through significant investments in manpower and equipment,” Fadeni said.
He added that NAHCO is upgrading its ground support equipment (GSE), with plans to replace older equipment by 2025, enhancing service delivery and operational capacity. “We have been taking delivery of brand-new GSE to further enhance our service delivery,” Fadeni explained.
NAHCO’s commitment to transparency was also commended by the Chief Executive Officer of the Nigerian Exchange (NGX), Jude Chiemeka, who praised the company’s use of the NGX platform to share its financial and operational updates.
In 2023, NAHCO paid N3.1 billion in taxes, reflecting its pivotal role in supporting Nigeria’s economy. As a leading provider of ground handling services to both domestic and international airlines, NAHCO continues to cement its reputation as a cornerstone of the Nigerian aviation industry.
With this transformation plan, NAHCO aims not only to scale its operations but also to solidify its standing as a leader in innovation and excellence within the aviation sector.
