Shareholders urge NAHCO to bid for airports

By Chinelo Obogo

Shareholders of the Nigerian Aviation Handling Company (nahco aviance) have urged the management to bid for ownership and management of airport terminals following the planned privatisation of airport infrastructure by the federal government.

The government plans to privatize and concession Nigeria’s five major international airport terminals in order to improve their infrastructure and efficiency via a Public-Private Partnership (PPP) strategy to be supervised by the Bureau of Public Enterprises (BPE) and the Ministry of Aviation and Aerospace Development.

Speaking at the 45th Annual General Meeting of nahco in Lagos, President of Association for the Advancement of Rights of Nigerian Shareholders (AARNS) Dr. Farouk Umar while commending the company’s giant stride in the 2025 business year affirmed that “NAHCO has now reached a level that they can even provide the same services in other African countries. When I was on board, I tried to take the business to Morocco Airport but we did not get it.”

He said “Secondly, the government is trying to privatise the airport. I call on NAHCO to bid because they have the capability and financial position to win the bid.”

According to him, “They have done very well. Last year, the share price was N80, today, it is over N200 and that is more than 250 per cent. They are giving bonuses of 1 to seven which is very commendable. And they have now won the business of Fly Gabon, Saudi and Qatar. This will increase revenue and bring more profit to shareholders. We believe the dividend next year will be much higher”.

NAHCO Group Chairman, Dr. Seinde Oladapo Fadeni affirmed that the company’s operational excellence continues to show in their results. He told shareholders saying: “we know it should delight you as owners of the company that in 2025, NAHCO recorded impressive growths across key performance indicators, combining a strong push for market share with disciplined cost management”.

On dividend, Dr Fadeni stated that the impressive performance in 2025 means that NAHCO can sustain its track record of remarkable dividend payment.

He explained that “In the light of this, your board is recommending dividend payment of N6. 25 plus bonuses of 1 for seven for the 2025 financial year.”

Looking ahead, Fadeni revealed that in the few years that the present board has overseen the affairs of the company, their business has experienced significant growth.

‎‎”We are committed to accelerating this growth by sustaining leadership in existing markets and exploring new opportunities”, he assured.

‎The Chairman also examined the impact of inflation on the operation of the company. For instance, he stated that the increase in fuel prices remains a major bottleneck, saying, “Fuel price is affecting our books. The commodity market is not smiling at us at all but we are managing the situation.”

‎‎On his part, Group Managing Director/CEO of NAHCO, Mr. Olumuyiwa Olumekun emphasised that NAHCO has not only navigated economic headwinds but has soared to new heights, reinforcing their position as West Africa’s largest aviation services and logistics group.

‎‎He said, “Our stock performance was stellar, with a 188% year-to-year gain and a market cap exceeding N200 billion. We unveiled a five-year strategic diversification plan to push revenue beyond N300 billion, focusing on new ventures and collaborations”.

‎‎The GMD added that, over the last three years, including 2025, NAHCO improved its fleet by acquiring more than 271 new ground support equipment units, phasing out aging assets for modern, fuel efficient and eco-friendly alternatives.

‎‎Also speaking at the meeting, another shareholder, Mr. Patrick Ajudua commended NAHCO for the company’s impressive outing.

‎‎”There is no better joy for shareholders this year than what NAHCO is giving to their shareholders; an improved dividend of N6.25 plus bonus of 1 for seven for the 2025 financial year. And of course, a good future prospects to reward shareholders for their investments. I think NAHCO is a place to be for shareholders”, Ajudua stated.

‎‎Shareholders at the AGM commended NAHCO for their excellent performance in the year 2025 as the firm recorded an impressive N65. 82bn revenue, and raises its earnings per share by 36 per cent.

‎‎It also increased its total revenue by 22.93 per cent from N53. 54 billion in 2024 to N65. 82 billion in 2025.

‎‎Again, profit before tax jumped by 29.83 per cent to N24. 28 billion in 2025 as against N18. 702 billion in 2024, while profit after tax grew by 36.02 per cent from N12. 87 billion in 2024 to N17.5 billion in 2025.

‎‎In the same vein, earnings per share rose by 36.14 per cent from N6. 60 in 2024 to N8. 99 in 2025.

‎‎During the ordinary business session, three directors: Mr Abdulhamid Aliyu, Reverend Victor Abimbola Olaiya and Mrs. Adebisi Oluwayemisi Bakare were re-elected as Non-Executive Directors of the company.

‎‎Also, PwC (PricewaterhouseCoopers) was approved as the company’s external auditor in place of the retiring auditor EY (Ernst & Young).