Shareholders of the Nigerian Aviation Handling Company (NAHCO) Plc have urged the company’s management to seize emerging opportunities in the aviation sector by bidding for the ownership and management of airport terminals slated for privatisation by the Federal Government.
The government plans to concession five major international airport terminals under a Public-Private Partnership (PPP) arrangement aimed at improving infrastructure, efficiency, and service delivery. The process will be supervised by the Bureau of Public Enterprises (BPE) in collaboration with the Ministry of Aviation and Aerospace Development.
The call was made at NAHCO’s 45th Annual General Meeting held in Lagos, where the President of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS), Dr. Farouk Umar, commended the company’s strong 2025 performance and urged it to expand its footprint.
“NAHCO has grown to a level where it can compete not only locally but across Africa. I urge the company to take advantage of the planned airport privatisation by bidding, as it has the financial strength and technical capacity to succeed”, Umar said.
He further praised the company’s market performance, noting a sharp rise in share price from N80 to over N200 within a year, alongside a bonus issue of one share for every seven held. He also highlighted recent business wins involving international carriers, which he said would further boost revenue and shareholder returns.
NAHCO’s Group Chairman, Dr. Seinde Fadeni, reaffirmed the company’s strong operational performance, stating that its results reflect a blend of market expansion and disciplined cost management.
“Our performance in 2025 demonstrates our commitment to delivering value to shareholders. We recorded growth across key performance indicators while maintaining operational efficiency”, he said.
Fadeni disclosed that the board has recommended a dividend payout of N6.25, along with a bonus issue of one for seven shares, citing the company’s impressive financial results.
Looking ahead, he assured shareholders of continued growth, noting that the company remains focused on strengthening its leadership in existing markets while exploring new opportunities, despite challenges such as rising fuel costs and inflationary pressures.
Group Managing Director/CEO, Mr. Olumuyiwa Olumekun, also highlighted NAHCO’s resilience and growth trajectory, describing the company as West Africa’s largest aviation services and logistics group.
He revealed that NAHCO’s stock recorded a 188 per cent year-on-year gain, pushing its market capitalisation beyond N200 billion. He added that the company has rolled out a five-year strategic plan aimed at growing revenue to over N300 billion through diversification and strategic partnerships.
Olumekun further disclosed that NAHCO has significantly upgraded its operations, acquiring over 271 modern ground support equipment units in the last three years to replace aging assets with more fuel-efficient and environmentally friendly alternatives.
Another shareholder, Mr. Patrick Ajudua, praised the company’s performance, describing its dividend payout and growth outlook as highly rewarding for investors.
NAHCO’s 2025 financial performance remained a major highlight of the meeting, with revenue rising to N65.82 billion, representing a 22.93 per cent increase from N53.54 billion in 2024. Profit Before Tax grew by 29.83 per cent to N24.28 billion, while Profit After Tax increased by 36.02 per cent to N17.5 billion. Earnings per share also rose by 36.14 per cent to N8.99.
During the meeting, shareholders approved the re-election of Mr. Abdulhamid Aliyu, Reverend Victor Olaiya, and Mrs. Adebisi Bakare as Non-Executive Directors.
They also approved the appointment of PricewaterhouseCoopers (PwC) as the company’s external auditor, replacing Ernst & Young (EY).