The Nigerian Aviation Handling Company (NAHCO) Plc has unveiled an ambitious five-year strategic growth plan aimed at pushing its turnover beyond N300 billion, backed by ongoing diversification, digital transformation, and major operational upgrades.

At the company’s yearly general meeting held in Lagos, the board reaffirmed its commitment to consolidating NAHCO’s market leadership in aviation ground handling while expanding into high-potential sectors such as hospitality and commodity exports.

The Chairman, Dr Seinde Oladapo Fadeni, assured shareholders that the company’s five-year blueprint is already delivering tangible results and will be the foundation for sustained growth.

According to him, the firm is undergoing a sweeping transformation across operations, workforce development, equipment, and digital systems.“The year was one of tremendous progress, marked by significant achievements and a renewed sense of purpose across all facets of our operations,” Fadeni stated.

Reviewing its financials, he explained that the company achieved a 115.4 per cent rise in profit before tax, from N8.7 billion in 2023 to N18.70 billion in 2024 while revenue increased by 88.5 per cent to N53.54 billion.

In addition, its gross profit surged by 120.5 per cent to N33.08 billion. Operating profit also more than doubled to N19.84 billion, driven by stronger efficiencies and core business performance.

Also at the meeting, the company’s shareholders approved a dividend payout of N11.58 billion, translating to N5.94 kobo per share for the 2024 financial year, representing a 134 per cent increase from the previous year.

On its diversification and innovation strategy, Fadeni pointed out that NAHCO is deepening its diversification agenda, with plans to build a hotel and expand its commodities export business.

He stated that the firm is also investing heavily in next-generation technologies, including the implementation of Oracle ERP and HCM systems to drive digital transformation and process efficiency.

He also added that the company has commenced a fleet renewal programme, aiming to replace all ageing equipment by December 2025. Group Managing Director of the firm, Olumuyiwa Olumekun, highlighted key milestones including the recertification of major operational hubs in Lagos, Abuja, and Kano, and the launch of Nigeria’s first NAHCO Export Packaging and Processing Centre.

“This centre enhances the competitiveness of Nigerian exports and creates new employment opportunities,” he said.