NAHCO sets N100bn revenue target
By Innocent Raphael
The Nigerian Aviation Handling Company Plc (NAHCO) has set revenue target of N100 billion for the next five years.
This projection was unveiled by the Group Chairman, Dr. Seinde Fadeni, during the company’s Annual General Meeting in Lagos.
To achieve this target, NAHCO has revealed plans to diversify its investment portfolio, aiming to create new jobs and significantly contribute to alleviating Nigeria’s foreign exchange challenges.
Dr. Fadeni emphasized the potential of food exports to boost foreign exchange earnings and improve the livelihoods of Nigerians, as he called on the government to enhance airport infrastructure and reduce financial burdens on airlines and passengers to support future growth.
“NAHCO believes the government should reduce the financial burden on airlines and passengers by reviewing applicable taxes. This would bring more payees into the tax net,” said Fadeni.
He also highlighted that Nigerian airports impose around 27 levies on foreign airlines, making them the most expensive in the world and deterring investment.
The NAHCON boss further urged the government to harmonize the regulatory environment at ports in line with global best practices, ensuring that the nation’s Ease of Doing Business policies are effectively implemented.
Addressing the cost-related challenges of 2023, Fadeni noted that while the cost of handling aircraft has increased, ground handling companies cannot easily pass these costs onto airlines without approval from the Nigerian Civil Aviation Authority.
“It is not uncommon to see ticket prices rising while ground handling rates remain stagnant,” he explained.
Indranil Gupta, NAHCO’s Group Managing Director/Chief Executive Officer, shared the company’s plans to diversify into other economic sectors to drive growth.
He emphasized leveraging market insights for organic and strategic growth, refreshing the fleet of ground support equipment, and embracing digitalization and innovation.
“We are investing in cutting-edge technologies and solutions to enhance our service offerings, operational efficiency, and competitiveness. By harnessing data analytics, automation, and predictive maintenance, we aim to stay ahead of industry trends and deliver superior value to our clients,” Gupta stated.
Established in 1979, NAHCO offers a range of services including aviation cargo handling, aircraft handling, passenger facilitation, crew transportation, refueling, and aviation training from its base at Murtala Muhammed International Airport.
