NAHCO sees 22.9% surge in revenue, bemoans escalating fuel expenses

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By Dickson Omobola

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Ground handling company, Nigerian Aviation Handling Company, NAHCO Aviance, has increased its total revenue by 22.93 per cent from N53.54 billion in 2024 to N65.82 billion in 2025.

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The company, however, lamented the impact of rising fuel prices on its operations, saying the commodity market had remained challenging.

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NAHCO said while Profit Before Tax jumped by 29.83 per cent to N24.28 billion in 2025 as against N18.702 billion in 2024, Profit After Tax grew by 36.02 per cent from N12.87 billion in 2024 to N17.5 billion in 2025.

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Also, earnings per share rose by 36.14 per cent from N6.60 in 2024 to N8.99 in 2025.

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Group’s Chairman, Dr Seinde Fadeni, disclosed this at the 45th Annual General Meeting of NAHCO PLC held in Lagos.

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Fadeni said: “In 2025, NAHCO recorded impressive growth across key performance indicators, combining a strong push for market share with disciplined cost management.”

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On dividend, Fadeni said the impressive performance in 2025 means that NAHCO could sustain its track record of remarkable dividend payment.

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He said: “In the light of this, your board is recommending dividend payment of N6.25 plus bonus of 1 for seven for the 2025 financial year. In a few years that the present board has overseen the affairs of the company, their business has experienced significant growth.

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“We are committed to accelerating this growth by sustaining leadership in existing markets and exploring new opportunities. Fuel price is affecting our books. The commodity market is not smiling at us at all, but we are managing the situation.”

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Meanwhile, Group Managing Director/CEO of NAHCO, Mr Olumuyiwa Olumekun, said NAHCO had not only navigated economic headwinds but soared to new heights, reinforcing their position as West Africa’s largest aviation services and logistics group.

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He said: “Our stock performance was stellar, with a 188 per cent year-to-year gain and a market cap exceeding N200 billion. We unveiled a five-year strategic diversification plan to push revenue beyond N300 billion, focusing on new ventures and collaborations.”

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The GMD added that, over the last three years, including 2025, NAHCO improved its fleet by acquiring more than 271 new ground support equipment units, phasing out aging assets for modern, fuel efficient and eco-friendly alternatives.

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For his part, President of Association For the Association for the Advancement of the Rights of Nigerian Shareholders, AARNS, Dr Farouk Umar, said: “They (NAHCO) have done very well. Last year, the share price was N80; today, it is over N200 and that is more than 250 per cent. They are giving bonuses of one to seven, which is very commendable. Also, they have now won the business of Fly Gabon, Saudi and Qatar.

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This will increase revenue and bring more profit to shareholders. We believe the dividend next year will be much higher.

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“NAHCO has now reached a level that they can even provide the same services in other African countries. When I was on board, I tried to take the business to Morocco Airport, but we did not get it.”

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