NAHCO targets more growth in the next 3 years

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Nigerian Aviation Handling Company NAHCO

The Chairman of Nigerian Aviation Handling Company (NAHCO), Alhaji Suleiman Yahyah, has said the company is targeting 7 to 10 percent growth in the next three years, while emphasis is on sustaining the company dividend policy which has been on since it was listed on the floor of the Nigerian Stock Exchange (NSE) in 2006.

Alhaji Yahyah disclosed this when he led management of the company on a courtesy visit to the leadership of the exchange in Lagos. According to him, since its privatisation, the company has embarked on business diversification programme that cuts across industries and geography.

He said the company has developed strategic global alliances through its membership of aviance, the global alliance of 10 reputable airport service providers operating from 112 stations in 17 countries, and The International Air Cargo Association (TIACA), which exists to promote the air cargo industry and world trade.

Yahyah noted that from a single business company, NAHCO has grown into a diversified group that is not only in cargo and passengers handling, but is also into agriculture, free trade zone and energy. We are ready to go on the investment in the free trade zone. The licence has been secured, the partnership with International Development Ireland, had been signed, management is in place and market is looking good. We are also investing in our agric zone development, which is part of free trade zone, a sub element of using our platforms in Lagos, Abuja, and Port Harcourt.

He pointed out that already 10 per cent of the company earnings is coming from export. So we want to deepen it in view of the difficulty now in the forex market. So we will fast track that investment and hopefully, that should begin to show in our performance by the end of 2016. Besides, we are also moving to other African countries. We are licensed in Senegal and Cote d Ivoire.

Adding that NAHCO invested over N10 billion in equipment, saying these equipment made the company to be about 150 per cent self-sufficiency.

He said the company has enough equipment and is ready for the new terminals that are coming to Lagos, Port Harcourt, Kano and Abuja terminals. Stressing that the company will deepens its market presence and corporate governance culture and strengthen the board. Currently the company share price is selling at N4:00 kobo.

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