NAHCO targets N300bn revenue growth by 2029

The Nigerian Aviation Handling Company Plc (NAHCO) yesterday announced a five – year business transformation plan with a projected revenue of N300billion by 2029.

The group said its plan to build a “new NAHCO”, centered around four key pillars including an accelerated growth in business, differentiated with operational excellence to deliver a transformed people and culture.

The group led by its Chairman, Seinde Fadeni, disclosed this on Tuesday during the company’s closing gong ceremony and the “Facts Behind The Figures” presentation at the NGX, Lagos.

Fadeni was flanked by Peter Olusola Obabori, Executive Director & Head-International Business, Adeoye Emiloju is the Chief Financial Officer (CFO) among others.

Emilolu disclosed that the group is targeting N300bn revenue by 2029 with contribution from its subsidiaries – Ground Handling (N120bn); Cargo Handling (N40bn); NAHCO Logistics Services (N36bn); NAHCO Free Zone (N15bn); NAHCO Commodities (N80bn); NAHCO Travel and Hospitality (N75bn) and Aviation Academy (N2bn).

In non-financial targets, he said the group is targeting 85 per cent customer satisfaction, 95 per cent customer retention, 90 per cent automated processes, 80 per cent digital adoption rate among others.

The CFO said the projected growth trajectory has compelled the group to prioritise operational efficiency and performance improvement.

He also identified the organisation’s commitment to people, processes and technology as major driving forces to achieve the target.

He said, “Our projected revenue of N300 billion in the next five years is planned to happen in this way.

“As at October, 2024, we had achieved N32.49 billion and we intend to close the year with about N50bn. In 2025, we will move to N71 billion and in 2026, our expectation is that we will do N101.9bn. By 2027, we will be at 146 billion. In 2028, it will be doing about N209.34 billion. And in 2029, we will achieve our N300 billion.”

Speaking on the re-fleeting drive, Obabori disclosed that $5.2m worth of Ground Support Equipment (GSEs) were added to NAHCO Plc’s GSEs in 2024, while $4.7m worth is expected to be delivered by the H1 2025.

Fadeni stated that “As a company that has consistently paid high dividends over the years, NAHCO will continue to seek higher dividends for its shareholders.

In his welcome address, the CEO of NGX, Jude Chiemeka, applauded the revenue drive of the group despite the “Challenging environment that we find ourselves in.”