Shareholders Urge NAHCO to Bid for Airport Terminals as FG Pushes Privatisation Drive
Shareholders of the Nigerian Aviation Handling Company Plc (nahco aviance) have called on the management of the ground handling giant to bid for the ownership and management of airport terminals as the Federal Government moves ahead with plans to privatise major airport infrastructure across the country.
The call was made during the company’s 45th Annual General Meeting (AGM) held in Lagos, where shareholders commended the firm’s strong financial performance in the 2025 business year and expressed confidence in its capacity to compete for airport concession opportunities.
The Federal Government had announced plans to privatise and concession Nigeria’s five major international airport terminals through a Public-Private Partnership (PPP) arrangement aimed at improving infrastructure and operational efficiency.
The exercise is expected to be supervised by the Bureau of Public Enterprises (BPE) in collaboration with the Ministry of Aviation and Aerospace Development.
Speaking at the AGM, President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr Farouk Umar, praised NAHCO’s growth trajectory and urged the company to take advantage of the impending airport concessions.
According to him, the company has attained a level of operational and financial strength that positions it to manage airport facilities not only in Nigeria but across Africa.
“NAHCO has now reached a level where it can even provide the same services in other African countries. When I was on board, I tried to take the business to Morocco Airport but we did not get it,” Umar said.
He added: “The government is trying to privatise the airport. I call on NAHCO to bid because they have the capability and financial position to win the bid.”
Umar further applauded the company’s impressive stock market performance and shareholder returns, noting that the share price had risen from about N80 last year to over N200.
“They have done very well. Last year, the share price was N80, today it is over N200 and that is more than 250 per cent. They are giving bonuses of one for seven which is very commendable. They have also won the business of Fly Gabon, Saudi and Qatar. This will increase revenue and bring more profit to shareholders. We believe the dividend next year will be much higher,” he stated.
Chairman of the NAHCO Group, Dr Seinde Oladapo Fadeni, also attributed the company’s robust financial results to operational excellence and disciplined cost management.
Addressing shareholders, Fadeni said the company recorded significant growth across key performance indicators in 2025 while aggressively expanding market share.
“We know it should delight you as owners of the company that in 2025, NAHCO recorded impressive growth across key performance indicators, combining a strong push for market share with disciplined cost management,” he said.
On dividend payout, the chairman disclosed that the company’s performance enabled the board to sustain its tradition of rewarding shareholders generously.
“In the light of this, your board is recommending dividend payment of N6.25 plus bonus shares of one for seven for the 2025 financial year,” Fadeni announced.
Looking ahead, he noted that the current board had overseen remarkable business expansion over the last few years and assured shareholders of continued growth.
“We are committed to accelerating this growth by sustaining leadership in existing markets and exploring new opportunities,” he assured.
Fadeni, however, acknowledged the challenges posed by inflation and rising fuel costs on the company’s operations.
“Fuel price is affecting our books. The commodity market is not smiling at us at all but we are managing the situation,” he explained.
On his part, the Group Managing Director/Chief Executive Officer of NAHCO, Mr Olumuyiwa Olumekun, stated that the company had continued to thrive despite prevailing economic headwinds, further consolidating its position as West Africa’s largest aviation services and logistics group.
According to him, NAHCO achieved remarkable stock market growth in 2025, recording a 188 per cent year-on-year gain while its market capitalisation surpassed N200 billion.
“Our stock performance was stellar, with a 188 per cent year-to-year gain and a market capitalisation exceeding N200 billion. We unveiled a five-year strategic diversification plan to push revenue beyond N300 billion, focusing on new ventures and collaborations,” Olumekun said.
He also revealed that the company had significantly modernised its operational equipment over the last three years.
“Over the last three years, including 2025, NAHCO improved its fleet by acquiring more than 271 new ground support equipment units, phasing out ageing assets for modern, fuel-efficient and eco-friendly alternatives,” he added.
Another shareholder, Mr Patrick Ajudua, described the company’s dividend payout and future outlook as highly encouraging for investors.
“There is no better joy for shareholders this year than what NAHCO is giving to shareholders; an improved dividend of N6.25 plus bonus of one for seven for the 2025 financial year, and of course, good future prospects to reward shareholders for their investments. I think NAHCO is a place to be for shareholders,” Ajudua stated.
Shareholders at the AGM commended the company for posting impressive financial results for the 2025 financial year.
NAHCO recorded revenue of N65.82 billion in 2025, representing a 22.93 per cent increase from N53.54 billion in 2024.
Profit before tax rose by 29.83 per cent to N24.28 billion from N18.702 billion recorded in 2024, while profit after tax grew by 36.02 per cent from N12.87 billion to N17.5 billion.
Similarly, earnings per share increased by 36.14 per cent from N6.60 in 2024 to N8.99 in 2025.
During the AGM, shareholders also approved the re-election of Mr Abdulhamid Aliyu, Reverend Victor Abimbola Olaiya and Mrs Adebisi Oluwayemisi Bakare as Non-Executive Directors of the company.
In addition, PwC (Pricewaterhouse Coopers) was approved as the company’s new external auditor, replacing the retiring auditor, EY (Ernst & Young).
