BY OLAPEJU OLUBI
Shareholders of the Nigerian Aviation Handling Company (NAHCO Aviance) have called on the firm’s management to position itself for a major role in Nigeria’s planned airport privatisation programme, urging it to bid for the management and possible ownership stakes in key airport terminals across the country.
Their appeal comes as the Federal Government moves ahead with plans to concession five major international airport terminals under a Public-Private Partnership (PPP) framework aimed at improving efficiency, infrastructure quality, and overall service delivery.
The exercise, to be coordinated by the Bureau of Public Enterprises (BPE) and the Ministry of Aviation and Aerospace Development, is expected to open up one of the most significant infrastructure reforms in Nigeria’s aviation sector in years.
The call was made at NAHCO’s 45th Annual General Meeting held in Lagos, where shareholders lauded the company’s strong 2025 performance and urged it to leverage its growing financial strength and operational expertise to expand beyond its core ground handling business.
President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Farouk Umar, said NAHCO has evolved into a highly capable aviation services player with the technical and financial capacity to compete for airport assets both in Nigeria and across Africa.
According to him, the company’s recent trajectory shows it is ready for larger strategic opportunities.
He recalled past efforts to expand into Morocco, noting that NAHCO’s current scale and credibility now place it in a stronger position to win similar bids if it chooses to pursue them.
With the federal government’s privatisation drive gathering momentum, Umar urged the company to act decisively.
He argued that NAHCO’s operational experience in aviation logistics gives it a natural advantage in airport management, adding that participation in the concession process could significantly expand its revenue base and regional influence.
He also highlighted the company’s strong market performance, pointing to a sharp rise in share value from about N80 to over N200 within a year—an increase of more than 250 per cent.
He further praised the firm’s bonus and dividend policy, describing it as a sign of strong investor returns and improved corporate governance.
NAHCO’s recent expansion into international partnerships, including new contracts with airlines such as Fly Gabon, Saudi and Qatar carriers, was also cited as a key growth driver.
Chairman of NAHCO Group, Dr. Seinde Oladapo Fadeni, told shareholders that the company’s 2025 results reflect disciplined execution, operational efficiency, and sustained market expansion.
He said the firm continues to strengthen its leadership position in aviation services while maintaining tight cost controls in a challenging macroeconomic environment.
Fadeni noted that inflationary pressures, particularly rising fuel costs, remain a significant operational constraint but said the company has adopted measures to manage the impact without compromising service delivery or profitability.
Reaffirming shareholder value, he disclosed that the board has proposed a dividend of N6.25 per share alongside a bonus issue of one new share for every seven held, underscoring the company’s strong earnings position and commitment to rewarding investors.
Looking ahead, the chairman said NAHCO remains focused on accelerating growth through market leadership and diversification into new business areas, while also exploring strategic partnerships that could deepen its regional footprint.
Group Managing Director/Chief Executive Officer, Mr. Olumuyiwa Olumekun, said NAHCO has not only weathered economic headwinds but has also strengthened its dominance as West Africa’s largest aviation ground handling and logistics group.
He pointed to the company’s strong stock performance, which recorded a 188 per cent year-on-year gain, pushing its market capitalisation beyond N200 billion.
Olumekun also revealed that NAHCO has launched a five-year strategic plan targeting revenue of over N300 billion, anchored on diversification, operational efficiency, and expansion into new aviation-related services.
Over the past three years, he said, the company has invested heavily in modernising its operations by acquiring more than 270 new ground support equipment units, replacing outdated machinery with more efficient and environmentally friendly alternatives.
Shareholders at the meeting expressed strong confidence in the company’s direction, describing NAHCO as one of the most attractive stocks in the aviation sector.
Another investor, Mr. Patrick Ajudua, said the firm’s improved dividend payout and bonus issue reflect a consistent commitment to shareholder value creation, adding that its growth prospects remain strong.
Financial results presented at the AGM showed that NAHCO’s revenue rose by 22.93 per cent, from N53.54 billion in 2024 to N65.82 billion in 2025. Profit before tax climbed by 29.83 per cent to N24.28 billion, while profit after tax grew by 36.02 per cent to N17.5 billion. Earnings per share also increased by 36.14 per cent to N8.99.
In the same meeting, shareholders re-elected three non-executive directors, Mr. Abdulhamid Aliyu, Rev. Victor Abimbola Olaiya, and Mrs. Adebisi Oluwayemisi Bakare, while approving the appointment of PricewaterhouseCoopers (PwC) as external auditor, replacing Ernst & Young (EY).
With strong financial results, rising investor confidence, and looming opportunities in airport concessions, NAHCO appears to be positioning itself not just as a service provider, but as a potential stakeholder in Nigeria’s evolving aviation infrastructure landscape.
Olapeju is a journalist and aviation reporter.
