…in five years
The Nigerian Aviation Handling Company PLC (NAHCO Aviance), a leading ground handling firm in West Africa, has announced an ambitious revenue target of N100 billion over the next five years.
This goal was unveiled by the company’s Chairman, Dr. Seinde Oladapo Fadeni, during the Annual General Meeting held in Lagos over the weekend.
Dr. Fadeni highlighted NAHCO’s strategic plans to diversify its investment portfolio, which aims to create new jobs and address Nigeria’s foreign exchange challenges.
He emphasized that exploring new investment avenues is crucial for spurring economic growth.
“Our focus on food export is particularly promising, as it can significantly boost foreign exchange earnings and improve the livelihoods of many Nigerians,” said Dr. Fadeni.
Despite navigating numerous challenges within the air transport sector, Dr. Fadeni urged the government to enhance airport infrastructure to support future growth.
He also called for the implementation of policies that promote sustainable aviation fuel, setting concrete targets to achieve net-zero CO2 emissions.
The NAHCO Chairman, criticized the high levies charged at Nigerian airports, which he claims are the highest in the world, deterring airlines from operating in the country.
He urged the government to harmonize the regulatory environment to align with global best practices, emphasizing the need for practical application of the nation’s Ease of Doing Business policies.
He also supported the Federal Government’s Renewed Hope Infrastructure Development Fund, particularly its plans for aviation industry upgrades, stressing that these initiatives should have a broader impact across the entire industry.
Addressing the challenges of 2023, Dr. Fadeni noted that the increased costs of handling aircraft cannot easily be transferred to airlines due to regulatory constraints by the Nigerian Civil Aviation Authority (NCAA).
“We face significant hurdles in getting new rates approved, which leads to ticket prices rising while ground handling rates remain stagnant,” he explained.
Dr. Fadeni revealed NAHCO’s plans to reinvest in its facilities to maintain its leadership in ground handling and warehousing. He mentioned the establishment of new subsidiaries as part of their strategy to become a global integrated logistics giant.
NAHCO’s Group Managing Director/Chief Executive Officer, Mr. Indranil Gupta, also spoke on the company’s diversification plans, emphasizing the importance of investing in operational equipment to sustain growth.
“We will continue to leverage our market insights and pursue both organic and strategic growth initiatives to expand our presence and revenue streams,” Mr. Gupta stated.
Gupta highlighted the company’s commitment to refreshing its fleet of ground support equipment and embracing digitalization and innovation to enhance service offerings, operational efficiency, and competitiveness.
“By harnessing data analytics, automation, and predictive maintenance, we aim to stay ahead of industry trends and deliver superior value to our clients”.
