NAHCO Posts N24.28bn Profit, Eyes Airport Concession Opportunities
Nigerian Aviation Handling Company Plc has recorded a profit before tax of N24.28bn for the 2025 financial year, as shareholders urged the company to position itself for the Federal Government’s planned concession of major airport terminals across the country.
The company disclosed this during its 45th Annual General Meeting held in Lagos over the weekend.
Shareholders at the meeting encouraged the aviation handling firm to take advantage of its growing financial strength and operational capacity to compete 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 being supervised by the Bureau of Public Enterprises and the Federal Ministry of Aviation and Aerospace Development.
Speaking at the meeting, President of the Association for the Advancement of Rights of Nigerian Shareholders, Farouk Umar, said NAHCO had developed the financial and technical capacity required to compete for airport concessions both within and outside Nigeria.
“NAHCO has now reached a level that they can even provide the same services in other African countries,” Umar said.
He revealed that previous attempts had been made to expand operations to Morocco, while also calling on the company to participate in the airport concession process.
“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,” he added.
Umar also praised the company’s impressive market performance, noting that shareholders had enjoyed strong returns on investment over the past year.
“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,” he said.
According to the company’s financial results, 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 climbed from N6.60 in 2024 to N8.99 in 2025.
Chairman of the NAHCO Group, Seinde Fadeni, attributed the strong performance to operational efficiency 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 payout of N6.25 per share, alongside a bonus issue of one share for every seven shares held for the 2025 financial year.
Fadeni added that the company remained committed to sustaining growth and exploring new business opportunities.
He, however, noted that inflation and rising fuel costs continue to affect operations.
“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 of NAHCO, Olumuyiwa Olumekun, said the company had maintained its leadership position in aviation services despite economic pressures.
“Our stock performance was stellar, with a 188 per cent year-to-year gain and a market cap exceeding N200bn,” Olumekun stated.
He further revealed that the company had launched a five-year strategic diversification plan aimed at increasing revenue beyond N300bn through new business ventures and partnerships.
According to him, NAHCO has also acquired more than 271 new ground support equipment units within the last three years as part of efforts to modernise operations and improve efficiency in the aviation sector.
