Shareholders of Nigerian Aviation Handling Company have urged the company to bid for the Federal Government’s planned airport concessions after the aviation handling giant posted a strong N65.82 billion revenue for the 2025 financial year.

The shareholders made the call at the company’s 45th Annual General Meeting in Lagos, where they commended NAHCO’s impressive financial growth, rising market value and expanding operations across the aviation sector.

President of the Association for the Advancement of Rights of Nigerian Shareholders, Dr. Farouk Umar, said the company now possesses the financial strength and operational capacity to manage airport terminals under the Federal Government’s proposed privatization programme.

According to him, NAHCO’s consistent growth and expanding international operations position it as a strong contender for airport terminal management under the planned Public-Private Partnership arrangement.

He noted that the company’s share price rose from about N80 to over N200 within one year, while new businesses secured from Fly Gabon, Saudi and Qatar operations would further strengthen revenue and profitability.

The Federal Government plans to privatise and concession five major international airport terminals through a Public-Private Partnership model to be supervised by the Bureau of Public Enterprises and the Ministry of Aviation and Aerospace Development.

Speaking at the AGM, Chairman of NAHCO Group, Dr. Seinde Oladapo Fadeni, said the company achieved significant growth across major performance indicators in 2025 through operational efficiency and disciplined cost management.

Fadeni said the board recommended a dividend payment of N6.25 alongside a bonus issue of one share for every seven shares held for the 2025 financial year.

He added that despite the impact of inflation and rising fuel prices on operations, the company remained committed to sustaining growth and expanding into new business opportunities.

Group Managing Director and Chief Executive Officer of NAHCO, Mr. Olumuyiwa Olumekun, said the company had continued to strengthen its position as West Africa’s largest aviation services and logistics group.

According to him, NAHCO recorded a 188 per cent year-on-year stock growth with market capitalization exceeding N200 billion.

Olumekun also disclosed that the company had launched a five-year strategic diversification plan aimed at increasing revenue beyond N300 billion through new ventures and collaborations.

He further revealed that NAHCO acquired over 271 new ground support equipment units within the last three years as part of efforts to modernize operations with fuel-efficient and environmentally friendly assets.

Financial figures presented at the AGM showed that the company’s revenue increased by 22.93 per cent from N53.54 billion in 2024 to N65.82 billion in 2025.

Profit before tax rose by 29.83 per cent from N18.70 billion to N24.28 billion, while profit after tax grew by 36.02 per cent from N12.87 billion in 2024 to N17.5 billion in 2025.

Earnings per share also increased by 36.14 per cent from N6.60 in 2024 to N8.99 in 2025.

Another shareholder, Mr. Patrick Ajudua, praised the company’s management for delivering improved returns and sustaining strong growth despite economic challenges.

During the meeting, shareholders approved the appointment of PwC as the company’s external auditor in place of EY, while Abdulhamid Aliyu, Reverend Victor Abimbola Olaiya and Mrs. Adebisi Oluwayemisi Bakare were re-elected as non-executive directors.

The Federal Airports Authority of Nigeria (FAAN) has intensified efforts to reposition the country’s air cargo sector with a strategic engagement involving cargo agents and freight forwarders at the Murtala Muhammed International Airport (MMIA), Lagos.

The meeting, organised by FAAN’s Directorate of Cargo Development and Services (DCDS), focused on plans for the proposed Cargo Village and the operational framework expected to drive a more efficient and globally competitive cargo system in Nigeria.

Held on May 12, 2026, the session brought together recognised agents’ associations operating across the cargo value chain under the theme: “Strategic Engagement Session on Cargo Village Development and Operational Framework.”

Representing the Director of Cargo Development and Services, Mr. Lekan Thomas, the General Manager, Cargo, Mrs. Alao Mamman, said stronger collaboration among stakeholders remained critical to the successful delivery of the Cargo Village project.

According to her, the initiative is designed to improve operational efficiency, simplify cargo handling procedures, and align airport cargo operations with international best practices and global standards.

Also speaking during the engagement, the General Manager, Cargo Partnerships and Registration, Engr. Jay Etim, outlined major components of the project, including the development of the Aviacargo Village, creation of an integrated cargo logistics hub, and co-location of cargo stakeholders within a coordinated operational environment.

He added that the framework would also strengthen operational standards, improve access control systems, and ensure strict compliance with regulatory requirements while reinforcing the role of licensed cargo agents in the evolving aviation logistics ecosystem.

Stakeholders at the meeting were given the opportunity to contribute recommendations and operational insights aimed at ensuring the project reflects industry realities and promotes inclusiveness across the cargo sector.

FAAN said the engagement forms part of ongoing efforts to create a more structured, secure, and efficient cargo environment capable of supporting trade growth and boosting Nigeria’s aviation logistics capacity.

Nigeria’s ambition to unlock its vast agricultural export potential is gaining momentum following the establishment of a dedicated Cargo Development Directorate by the Federal Airports Authority of Nigeria (FAAN), a move aimed at transforming air cargo into a central pillar of economic diversification.

Created in December 2024 by the Minister of Aviation and Aerospace Development, Festus Keyamo, the Directorate represents a strategic shift in aviation policy, from prioritizing passenger traffic to positioning airports as critical gateways for trade, particularly in agricultural exports.

The new unit, headed by Director of Cargo Development and Services Lekan Thomas, is tasked with strengthening Nigeria’s cargo ecosystem, improving export logistics, and addressing longstanding bottlenecks that have limited the country’s competitiveness in global agricultural markets.

For decades, Nigeria’s air cargo system has suffered from fragmented operations, weak infrastructure, and bureaucratic inefficiencies, resulting in heavy losses for exporters of perishable goods such as vegetables, fruits, and spices destined for international markets.

To address these challenges, FAAN has begun activating dedicated cargo handling facilities, including a domestic cargo terminal at the General Aviation Terminal in Lagos, with plans underway for a similar facility in Abuja.

These facilities are designed to separate cargo from passenger operations, improve handling efficiency, and preserve export quality through faster processing and improved standards compliance.

Managing Director and Chief Executive Officer of FAAN, Mrs. Olubunmi Kuku, has been a key advocate of repositioning air cargo as a major economic driver.

Under her leadership, the Authority is pursuing reforms aimed at strengthening cargo infrastructure, enhancing revenue generation, and attracting private sector investment in cold chain logistics.

Stakeholder engagement has also become a central pillar of the new strategy. FAAN has intensified collaboration with the Nigeria Customs Service, freight forwarders, ground handling companies, exporters, and financial institutions to create a more coordinated and efficient cargo value chain.

Industry stakeholders say the reforms could significantly boost Nigeria’s non-oil exports, enabling farmers and exporters to access high-value markets in Europe and the Middle East more efficiently.

The federal government has identified agricultural exports as a key component of its broader economic diversification agenda and long-term growth strategy.

If successfully implemented, the cargo reforms could help reposition Nigeria’s aviation sector as a logistics hub while providing farmers with faster, more reliable access to global markets.

However, analysts note that sustained implementation, improved infrastructure, and regulatory discipline will be critical to the initiative’s long-term success.