Nigerian Aviation Handling Company Plc has set a revenue projection of N100bn in the next five years.
This was disclosed by the Group Chairman of the company, Dr Seinde Fadeni, on the sideline of its Annual General Meeting held in Lagos on Saturday, according to The Punch.
The company stated that to create new jobs and contribute significantly to the resolution of the country’s currency crisis, it has undertaken a diversification plan for its investment portfolio.
Fadeni said it is convinced that food exports have a substantial potential for Foreign Exchange earnings because of their impact on the livelihoods and prosperity of Nigerians.
He urged the government to consider ways to improve airport infrastructure and reduce the financial burden on airlines and passengers to keep pace with the future growth plan, even though the company navigates safely through the multitude of challenges facing the air transport sector.
He said “ NAHCO believes that the government at the centre should work towards reducing the financial burden for airlines and passengers by reviewing applicable taxes. This way, more payees would be brought into the tax net. Not too long ago, the International Air Transport Association declared that Nigerian airports charge foreign airlines about 27 levies.
“This makes Nigerian airports the most expensive in the world, discouraging airlines from flying into the country. This is not the kind of laurel Nigeria should be proud of. It is a disincentive to investment for both active and prospective investors. The government should address this situation. Government should also heed the industry’s calls for the harmonisation of the regulatory environment, particularly at the ports in a way that aligns with global best practices. The nation’s Ease of Doing Business mantra should be in practice and not in theory only.”
In addition, he said that, given that 2023 has been marked by multiple cost challenges that have hurt Nigerian Airlines, it is not easy for ground handling companies to pass on increased costs associated with aircraft maintenance because any proposed increase in rates would be subject to approval from the Nigerian Civil Aviation Authority.
He said “ The very act of getting new rates approved has its challenges as well. It is therefore not uncommon to see ticket prices rising geometrically while ground handling rates charged by service providers to airlines remain solidly stagnant.
“Our push towards birthing a global integrated logistic giant is taking good shape with the coming into operations of new subsidiaries.”
NAHCO, established in 1979, operates from its base at the Murtala Muhammed International Airport to provide air cargo and aircraft handling, passenger facilitation, crew transport, refueling, and aviation training.
