NAHCO sets ambitious N100 billion revenue target amid expansion pllans
The Nigerian Aviation Handling Company PLC (nahco aviance), a leader in West Africa’s ground handling sector, has set an ambitious target of N100 billion in revenue over the next five years.
This strategic vision was unveiled by the company’s Chairman, Dr. Seinde Oladapo Fadeni, at the recent Annual General Meeting held in Lagos.
Dr. Fadeni highlighted the company’s plans to diversify its investment portfolio as part of a broader strategy to create new jobs and address Nigeria’s foreign exchange challenges.
“We are exploring new areas of investment to trigger positive economic impacts,” Fadeni said, emphasising the potential of food exports to significantly boost foreign exchange earnings and improve the livelihoods of many Nigerians.
Despite navigating a complex landscape filled with challenges, Fadeni urged the government to enhance airport infrastructure to support future growth plans.
He also called on industry stakeholders to adopt policies supporting sustainable aviation fuel, aligning with global goals for net-zero CO2 emissions.
The Chairman criticised the high taxes and charges at Nigerian airports, which he claimed are among the highest in the world, deterring foreign airlines from operating in the country.
He said: “NAHCO believes that the government at the centre should work towards reducing the financial burden for airlines and passengers by reviewing applicable taxes .
“This way, more payees would be brought into the tax net. Not too long, the international Air Transport Association declared that Nigerian airports charge foreign airlines about 27 levies.
“This makes Nigerian airports the most expensive in the world, discouraging airlines from flying into the country. This is not the kind of laurel Nigeria should be proud of. It is a disincentive to investment to both active and prospective investors.
“Government should address this situation. Government should also heed the industry’s calls for the harmonisation of the regulatory environment, particularly at the ports in a way that aligns with global best practices. The nation’s Ease of Doing Business mantra should be in practice and not in theory only.”
Fadeni expressed support for the Federal Government’s Renewed Hope Infrastructure Development Fund, particularly its initiatives to upgrade airport infrastructure.
However, he stressed that these improvements should have a broad industry impact.
He spoke of plans by NAHCO to re-invest in its facilities to enable it to retain its position in the ground handling and warehousing business.
Fadeni said, “Our push towards birthing a global integrated logistic giant is taking good shape with the coming into operations of new subsidiaries.”
NAHCO’s Group Managing Director/Chief Executive Officer, Mr. Indranil Gupta, also spoke at the AGM, outlining the company’s plans to diversify investments into other sectors of the economy.
Gupta highlighted the company’s commitment to operational excellence through the continuous investment in new equipment and embracing digitalisation and innovation.
“We plan to refresh our fleet of ground support equipment and increase our numbers to meet the growing customer needs and expectations,” Gupta said.
The company is poised to leverage data analytics, automation, and predictive maintenance to enhance service offerings, operational efficiency, and competitiveness.
Gupta added, “By harnessing cutting-edge technologies, we aim to stay ahead of industry trends and deliver superior value to our clients.”
With these strategic initiatives, NAHCO aims to solidify its position as a global integrated logistics giant and continue to drive sustainable growth in the aviation sector.
