NAHCO Projects 680% Revenue Growth In Five Years

The Nigerian Aviation Handling Company (NAHCO) Plc has announced a target to achieve a 680 per cent growth in revenue, projecting a total group revenue of N300bn by 2029.

This declaration was made by Group Executive Director, International Business & Corporate Services of NAHCO, Dr. Sola Obabori during the company’s “Facts Behind the Figures” presentation at the Nigerian Exchange Limited (NGX) in Lagos.

Obabori outlined the company’s five-year transformation strategy, which hinges on four key pillars: accelerating business growth, achieving operational excellence, leading with digital innovation, and fostering a transformed culture.

“We are embarking on a journey to build a new NAHCO,” he said, emphasizing the company’s commitment to reaching specific performance milestones by 2029 while expanding its service offerings.

The projected revenue includes N38.49bn by the end of 2024, N71.12bn in 2025, N101.93bn in 2026, N146.07bn in 2027, and N209.34bn in 2028, culminating in N300bn by 2029.

According to Obabori, ground handling operations will contribute the largest share of N120bn, followed by cargo handling (N40bn) and logistics services (N36bn).

Additional contributions will come from subsidiaries such as NAHCO Free Zone, Commodities, Travel & Hospitality, and Aviation Academy, collectively adding N104bn.

Obabori attributed the company’s optimism to the resilience of the African aviation industry, which has shown significant recovery and growth post-COVID-19.

He noted that NAHCO’s adaptability and innovative approaches have positioned it to capitalize on expanding markets despite Nigeria’s challenging economic landscape.

To support its growth targets, the company plans to prioritize operational efficiency and enhance financial performance through strategic initiatives.

Chairman of NAHCO, Mr. Seinde Fadeni, reiterated the company’s commitment to delivering high dividends to shareholders.

“To achieve this, we are making substantial investments in manpower and equipment,” he said, adding that NAHCO is replacing ageing equipment and enhancing its ground support capabilities with new acquisitions.

The CEO of the Nigerian Exchange Ltd., Mr. Jude Chiemeka, commended NAHCO for leveraging the NGX platform to communicate its financial and operational progress transparently.

He highlighted the company’s pivotal role in the aviation sector as a leading provider of ground handling services for domestic and international airlines since its establishment in 1979.

NAHCO, which transitioned from a government-owned entity to a publicly listed company, contributed N3.1bn in taxes in 2023, underscoring its impact on Nigeria’s economic growth.

Chiemeka lauded NAHCO’s strategic initiatives, emphasizing their importance in boosting shareholder value and supporting national development.

NAHCO Projects 680% Revenue Growth In Five Years is first published on The Whistler Newspaper