… appoints PwC as External Auditor
Nigerian Aviation Handling Company (NAHCO) Plc, has delivered a strong financial performance for the 2025 financial year, posting a revenue of N65.82 billion; an increase of 22.93 per cent from N53.54 billion recorded in 2024.
The company’s profitability also surged significantly, with Profit Before Tax rising by 29.83 per cent to N24.28 billion, up from N18.70 billion in the previous year. Profit After Tax grew even more impressively by 36.02 per cent to N17.5 billion, compared to N12.87 billion in 2024.
Earnings per share followed the upward trajectory, climbing by 36.14 per cent from N6.60 to N8.99.
Chairman of the Group, Dr. Seinde Fadeni, disclosed these figures during the company’s 45th Annual General Meeting held at Radisson Blu Hotel in Lagos on May 15, 2026. He attributed the performance to sustained operational efficiency, strategic market expansion, and disciplined cost management.
According to him, the company’s strong showing positions it to maintain its tradition of rewarding shareholders. Consequently, the board has recommended a dividend payout of N6.25 alongside a bonus issue of one share for every seven held for the 2025 financial year.
Fadeni further noted that despite macroeconomic pressures particularly rising fuel costs NAHCO has remained resilient. He acknowledged that inflation and volatile commodity prices continue to pose challenges but assured stakeholders that the company is effectively managing these headwinds.
Looking ahead, he reiterated the board’s commitment to accelerating growth by consolidating leadership in existing markets while exploring new business opportunities.
Also speaking at the AGM, Group Managing Director/CEO, Mr. Olumuyiwa Olumekun, said the company has not only weathered economic challenges but strengthened its position as West Africa’s largest aviation services and logistics group.
He highlighted NAHCO’s impressive stock market performance, which recorded a 188 per cent year-on-year gain, pushing its market capitalisation beyond N200 billion. He also revealed a five-year strategic plan aimed at scaling revenue to over N300 billion through diversification, partnerships, and new ventures.
Olumekun added that the company has significantly upgraded its operational capacity, 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.
Shareholders at the meeting commended the company’s performance and growth outlook. President of the Association for the Advancement of the Rights of Nigerian Shareholders (AARNS), Dr. Farouk Umar, praised NAHCO’s achievements, noting the sharp rise in share price from N80 to over N200 within a year.
He also pointed to new business wins, including contracts linked to international airlines such as Fly Gabon, Saudi, and Qatar operations, expressing optimism about increased future returns. Umar further urged the company to consider expansion into other African markets and participate in potential airport privatisation initiatives.
Another shareholder, Mr. Patrick Ajudua, described the dividend and bonus offer as highly rewarding, stating that NAHCO remains an attractive investment destination with strong future prospects.
Meanwhile, shareholders approved the re-election of three Non-Executive Directors—Mr. Abdulhamid Aliyu, Reverend Victor Abimbola Olaiya, and Mrs. Adebisi Oluwayemisi Bakare—during the meeting.
In addition, PricewaterhouseCoopers (PwC) was appointed as the company’s new external auditor, replacing the outgoing auditor, Ernst & Young (EY).