NAHCO HITS A NEW MILESTONE AS EXPORTS RISE

With facilities and funds to increase exports, Nigeria's top aviation handling company, Nigeria Aviation Handling Company Plc (NAHCO Aviance), has achieved ground-breaking success.

In an effort to balance the nation's commerce, the corporation, along with the Nigerian Export Processing Council (NEPC), has pushed the federal government's initiative to raise exports even more by constructing export processing centers throughout five states.

The centers in Lagos, Abuja, Enugu, Port Harcourt, and Kano would assist Nigerian exporters experience fewer product rejections on the global market.

When the project, which was awarded the NEPZ grant to NAHCO Aviance, is finished in five months, the country's export potential will increase to nearly two million metric tons annually.

The Executive Director of the Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, recently stated that the nation must continue to pursue projects that would reverse the trade deficit while speaking at the groundbreaking ceremony for the Lagos State project.

Yakusak asserted that exporting was Nigeria's only option for economic survival while noting that the initiative was in accordance with the NEPC export survival drive.

He insisted that everyone in Nigeria could get into the non-oil industry as a low-hanging fruit to earn foreign currency and help stabilize the economy.

We are extremely happy that the NEPC grant with which we helped NAHCO is operating and is being utilized well; I think we need to recognize them because in another context, when these awards are awarded, they would say this is government money, and of course the story is different.

I'm really delighted that the funding from the export growth facility program is operating today, and I can tell you that this building will be standing in the next four to five months. Nigeria may not see the significance of this, but after hearing about the numerous instances of exports being rejected because of subpar packing, you will realize how urgently we need this.

When the project is finished in its entirety across the geopolitical zones, according to Dr. Seine Oladapo Fadeni, Chairman of NAHCO Aviance, they are ready to assist NEPZ in realizing their ambition of expanding the export processing regions.

We came to the realization that we needed to speed up the exportation of Nigerian goods, particularly agricultural goods, in order to generate more foreign exchange and diversify our economy's reliance on oil, according to Fadeni.

As its revenue increases by 44%, NAHCO Aviance has awarded its stockholders a dividend of N665 million.

This was announced at its 41st Annual General Meeting (AGM), which took place on July 29, 2022, in Lagos. Despite the impact of the Covid-19 epidemic on its operations, the company's board of directors notified shareholders at the AGM that the group turnover was N10.2 billion, or a 44 percent improvement above the results for the 2020 financial year.

Shareholders received a gross dividend of 41 kobo per ordinary share of 50 kobo each, or N665 million, as compensation for their sustained confidence in the firm. The N12.5 kobo per ordinary share given to shareholders at the conclusion of the 2020 fiscal year was increased by 341% to this amount.

In addition, the business awarded one bonus share for every five shares owned by current shareholders and promised shareholders that the dividend for 2022 might be significantly greater depending on the year's success thus far.

According to the group's annual report and financial statements for 2021, sales of N10.2 billion, up from N7.1 billion in 2020, was an improvement. Profit Before Tax (PBT) for the NAHCO Group was N924, 855 million in 2021, up 156 percent from N361, 279 million in the prior year. In addition, profit after tax (PAT) climbed from N302, 131 million in the 2020 financial year to N771, 615 million, or a growth of 155%. Total equity held by NAHCO Plc during the reviewed year was N7 billion, representing an increase of 9% over equity held in 2020.

At the gathering, Fadeni gave the audience his word that the business will keep holding the top spot for ground handling in Africa in terms of market share, clientele, sales, and profitability.

He added that despite emerging from recession in the last quarter of 2020, the Nigerian economy was shaky in 2021. Despite this, he insisted, Our priority in 2021 was a responsible and inclusive expansion, which allowed us to be a source of stability for our clients amid the difficult times. With a strengthened capital base, an increase in client deposits, liquidity, and improved gearing ratios, NAHCO Plc closed the second year of unparalleled disruption, low interest rates, and market volatility with N10.2 billion in revenue.

Further explaining that NAHCO had invested over N4 billion in the purchase of Ground Support Equipment (GSE), the Chairman reassured the shareholders that the business would perform better in the 2022 fiscal year despite several obstacles.

A diverse network of companies based in Nigeria, NAHCO Plc has interests in logistics, crew transportation, airport free zones, aircraft handling, passenger facilitation, and air cargo services.

Thus, in order to show appreciation to its partners, NAHCO Aviation recently hosted a dinner to honor its clients and made a commitment to enhancing its services.

At the event, the business's chairman, Dr. Fadeni, stated that despite the numerous difficulties in the aviation industry, the company has thrived mostly due to its clientele.

Customers of NAHCO Aviance include clearing agents, airlines, the Federal Airports Authority of Nigeria, Nigerian police, Nigerian immigration service, and Nigerian customs service, among others.

Fadeni acknowledged that the handling industry in Nigeria had many obstacles to expansion, but she reassured her audience that NAHCO, the nation's top handling firm, will keep providing its customers with high-caliber services.