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NAHCO stakes N1.4 billion on infrastructure


 Vincent Onome Akpotaire

Vincent Onome Akpotaire

The Nigerian Aviation Handling Company (NAHCO) has, spent N1.4 billion to upgrade its infrastructure and equipment since the organization was privatised, the Managing Director, Nobert Bielderman has disclosed.

Bielderman, who made this known when he led other management staff of the company on a courtesy visit to the Acting Director-General of the Bureau of Public Enterprises (BPE), Dr. Vincent Onome Akpotaire, in Abuja, yesterday, said NAHCO was poised to sustain its position as a leading success story of the privatization and reform programme of the Federal Government.

He said that having grown NAHCO’s revenue base from N3.5 billion to N8.5 billion in the last six years, the enterprise was determined to sustain the tempo, despite the current economic downturn.

He explained that the investments made in the acquisition of new equipment, human capacity development and good corporate governance would enhance optimal service delivery and shore up the company’s revenue base.

According to him, the company, which was privatised through a public offer in 2006 and promptly listed on the Nigerian Stock Exchange (NSE), has recorded favourable returns for shareholders above the 50 kobo share price before privatization, assuring that prompt payment of dividends would be sustained.

He said the company pays N26 million as taxes to the Federal and State Governments annually and attributed this to the dividends of privatisation.

Akpotaire noted the giant leaps by NAHCO and said it was indeed a success story of privatization and promised to assist the company to overcome some of its challenges.

While noting that though the Federal Government had no equity in the enterprise since its privatisation, the BPE boss stressed that the bureau would continue to show keen interest in NAHCO’s operations, while also applauding the company’s position on the NSE ratings and its second position on the Global Risk Rating Award.

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