The Nigerian Aviation Handling Company Plc has recorded a profit before tax of N24.28bn for the 2025 financial year, while signalling interest in the Federal Government’s planned concession of major airport terminals across the country.
The company disclosed this at its 45th Annual General Meeting held in Lagos over the weekend, where shareholders urged management to leverage its strong financial position and operational capacity to bid for airport ownership and management under the Federal Government’s privatisation programme.
The Federal Government is currently pursuing the concession of five major international airport terminals through a Public-Private Partnership arrangement supervised by the Bureau of Public Enterprises and the Ministry of Aviation and Aerospace Development. The initiative, according to shareholders, is aimed at improving infrastructure, efficiency, and service delivery in the aviation sector.
Speaking at the AGM, President of the Association for the Advancement of Rights of Nigerian Shareholders, Farouk Umar, said NAHCO has attained the financial and operational strength required to compete for airport concessions within and outside Nigeria.
Umar commended the company’s market performance, noting that shareholders have continued to enjoy strong returns on investment.
He said, “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 the Morocco Airport, but we did not get there.
“Secondly, the government is trying to privatise the airport. I call on NAHCO to bid because they have the capability and financial position to win the bid.”
“They 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 for seven, which is very commendable. And they have now won the business of Fly Gabon, Saudi Arabia, and Qatar. This will increase revenue and bring more profit to shareholders,” he stated.
Financial results presented at the meeting showed that the company’s total revenue rose by 22.93 per cent from N53.54bn in 2024 to N65.82bn in 2025. Profit before tax increased by 29.83 per cent from N18.70bn to N24.28bn, while profit after tax grew by 36.02 per cent from N12.87bn to N17.5bn. Earnings per share also rose from N6.60 in 2024 to N8.99 in 2025.
Chairman of NAHCO Group, Seinde Fadeni, attributed the strong performance to operational excellence and disciplined cost management despite prevailing economic challenges.
“We know it should delight you as owners of the company that in 2025, NAHCO recorded impressive growth across key performance indicators, combining a strong push for market share with disciplined cost management,” Fadeni said.
He disclosed that the board had recommended a dividend payment of N6.25 per share alongside a bonus issue of one share for every seven shares held for the 2025 financial year.
“In the few years that the present board has overseen the affairs of the company, our business has experienced significant growth. We are committed to accelerating this growth by sustaining leadership in existing markets and exploring new opportunities,” he added.
Fadeni, however, noted that rising fuel prices and inflation remain major operational concerns, stressing that “Fuel price is affecting our books. The commodity market is not smiling at us at all, but we are managing the situation.”
Group Managing Director and Chief Executive Officer of NAHCO, Olumuyiwa Olumekun, said the company has continued to expand despite economic headwinds, maintaining its leadership position in aviation services.
“Our stock performance was stellar, with a 188 per cent year-to-year gain and a market cap exceeding N200bn. We unveiled a five-year strategic diversification plan to push revenue beyond N300bn, focusing on new ventures and collaborations,” Olumekun said.
He further disclosed that the company has acquired more than 271 new ground support equipment units over the last three years as part of efforts to modernise operations and improve efficiency.
