NAHCO targets N100bn in five years, plans investment diversification

The Nigerian Aviation Handling Company Plc (NAHCO Aviance) says it aims to rake in N100 billion revenue over the next five years while focusing on diversifying its investment portfolio.

Dr. Seinde Fadeni, the chairman of NAHCO, made this statement outside the organization’s annual general meeting in Lagos.

Mr. Fadeni claims that the business has completed plans to diversify its investment portfolio in order to generate new employment opportunities and make a substantial contribution to the resolution of the nation’s foreign exchange crisis.

He said that because food exports affect the lives and prosperity of a large number of Nigerians, the company was convinced that they held significant potential for foreign exchange earnings.

While acknowledging that the business was safely navigating the obstacles facing the aviation industry, he urged the government to make improvements to airport infrastructure.

He mentioned that this would help maintain pace with the growth plan for the future.

He suggested that those involved in the industry consider putting policies in place that encourage the use of sustainable aviation fuel.

According to Mr. Fadeni, actions should be taken to implement innovations that support the global net zero CO2 emission goals as well as the industry.

“NAHCO believes that the government at the centre should work towards reducing the financial burden for airlines and passengers by reviewing applicable taxes. This way, more payees would be brought into the tax net. Not too long ago, the International Air Transport Association declared that Nigerian airports charge foreign airlines about 27 levies.

“This makes Nigerian airports the most expensive in the world, discouraging airlines from flying into the country. This is not the kind of laurel Nigeria should be proud of. It is a disincentive to investment to both active and prospective investors. The government should address this situation and also heed the industry’s calls for the harmonisation of the regulatory environment, particularly at the ports, in a way that aligns with global best practices. The nation’s “Ease of Doing Business” mantra should be in practice and not in theory only,” Mr Fadeni said.

The head of NAHCO stated that the federal government’s Renewed Hope Infrastructure Development Fund should have an overall effect on the industry.

He outlined a few of the difficulties that will face the country in 2023, such as the rising cost of operating an aircraft that needs permission from the Nigeria Civil Aviation Authority.

Speaking about plans to reinvest in its facilities, Mr. Fadeni discussed how the company hopes to maintain its position in the ground handling and warehousing industry.

According to him, the company’s goal of becoming a major player in global integrated logistics was starting to materialize with the creation of its subsidiaries.

Indranil Gupta, the group managing director of the company, added that in order for the business to expand, it planned to diversify its investments into other economic areas.

In order to promote sustainable growth, Mr. Gupta stated that NAHCO would keep making investments in operational machinery.

The Nigerian Aviation Handling Company Plc (NAHCO Aviance) says it aims to rake in N100 billion revenue over the next five years while focusing on diversifying its investment portfolio.

Dr. Seinde Fadeni, the chairman of NAHCO, made this statement outside the organization’s annual general meeting in Lagos.

Mr. Fadeni claims that the business has completed plans to diversify its investment portfolio in order to generate new employment opportunities and make a substantial contribution to the resolution of the nation’s foreign exchange crisis.

He said that because food exports affect the lives and prosperity of a large number of Nigerians, the company was convinced that they held significant potential for foreign exchange earnings.

While acknowledging that the business was safely navigating the obstacles facing the aviation industry, he urged the government to make improvements to airport infrastructure.

He mentioned that this would help maintain pace with the growth plan for the future.

He suggested that those involved in the industry consider putting policies in place that encourage the use of sustainable aviation fuel.

According to Mr. Fadeni, actions should be taken to implement innovations that support the global net zero CO2 emission goals as well as the industry.

“NAHCO believes that the government at the centre should work towards reducing the financial burden for airlines and passengers by reviewing applicable taxes. This way, more payees would be brought into the tax net. Not too long ago, the International Air Transport Association declared that Nigerian airports charge foreign airlines about 27 levies.

“This makes Nigerian airports the most expensive in the world, discouraging airlines from flying into the country. This is not the kind of laurel Nigeria should be proud of. It is a disincentive to investment to both active and prospective investors. The government should address this situation and also heed the industry’s calls for the harmonisation of the regulatory environment, particularly at the ports, in a way that aligns with global best practices. The nation’s “Ease of Doing Business” mantra should be in practice and not in theory only,” Mr Fadeni said.

The head of NAHCO stated that the federal government’s Renewed Hope Infrastructure Development Fund should have an overall effect on the industry.

He outlined a few of the difficulties that will face the country in 2023, such as the rising cost of operating an aircraft that needs permission from the Nigeria Civil Aviation Authority.

Speaking about plans to reinvest in its facilities, Mr. Fadeni discussed how the company hopes to maintain its position in the ground handling and warehousing industry.

According to him, the company’s goal of becoming a major player in global integrated logistics was starting to materialize with the creation of its subsidiaries.

Indranil Gupta, the group managing director of the company, added that in order for the business to expand, it planned to diversify its investments into other economic areas.

In order to promote sustainable growth, Mr. Gupta stated that NAHCO would keep making investments in operational machinery.