Shareholders of the Nigerian Aviation Handling Company (NAHCO Aviance) have urged the firm’s management to bid for ownership and operation of airport terminals as Nigeria moves ahead with plans to privatise key aviation infrastructure under a public-private partnership framework.
The call came during NAHCO’s 45th Annual General Meeting in Lagos, where investors endorsed the company’s strong financial performance and encouraged it to expand into airport terminal management amid ongoing federal reforms in the aviation sector.
Nigeria’s government is preparing to concession five major international airport terminals as part of efforts to upgrade infrastructure and improve operational efficiency. The process is expected to be overseen by the Bureau of Public Enterprises (BPE) and the Ministry of Aviation and Aerospace Development.
Shareholder representative and President of the Association for the Advancement of Rights of Nigerian Shareholders, Dr Farouk Umar, said NAHCO had reached a level of operational and financial strength capable of competing for major airport assets.
He said the company should consider participating in the upcoming bids, adding that its performance and regional expansion made it well positioned for such a move.
More Read
“NAHCO has now reached a level that they can even provide the same services in other African countries,” he said, noting previous unsuccessful attempts by the firm to expand into North African markets.
He added that the planned privatisation presents a strategic opportunity for NAHCO to scale its operations beyond ground handling into broader airport management services.
At the meeting, shareholders also praised the company’s financial results, pointing to a sharp rise in its share price and strong dividend performance.
More Read
NAHCO’s chairman, Dr Seinde Oladapo Fadeni, said the company had recorded “impressive growth across key performance indicators” in 2025, driven by market expansion and cost discipline.
He confirmed that the board had proposed a dividend of N6.25 per share alongside a bonus issue of one-for-seven for the 2025 financial year.
Fadeni acknowledged macroeconomic challenges, particularly rising fuel costs, which he said continued to weigh on operational expenses.
“Fuel price is affecting our books. The commodity market is not smiling at us at all, but we are managing the situation,” he said.
Group Managing Director and Chief Executive Officer, Mr Olumuyiwa Olumekun, said NAHCO had strengthened its position as West Africa’s leading aviation services and logistics group despite broader economic headwinds.
He said the company recorded a 188% year-on-year gain in stock performance, with market capitalisation surpassing N200 billion, and outlined a five-year strategic plan targeting revenue above N300 billion through diversification and partnerships.
Olumekun added that the company had upgraded its operational capacity by acquiring more than 270 new ground support equipment units over the past three years, replacing older assets with more efficient systems.
Shareholders at the AGM also highlighted NAHCO’s improved financial results, including revenue of N65.82 billion in 2025, representing a 22.93 percent increase from the previous year, alongside a 36% rise in earnings per share.
They further approved the re-election of three non-executive directors and endorsed the appointment of PricewaterhouseCoopers (PwC) as external auditors, replacing Ernst & Young.
Analysts say the push for NAHCO to enter airport terminal operations reflects broader reforms in Nigeria’s aviation sector, where the government is increasingly turning to private investors to modernise infrastructure and improve efficiency.
If successful, the planned concessions could significantly reshape the country’s airport management landscape, opening new revenue streams for private operators while testing the capacity of local firms to manage large-scale transport assets.
