NAHCO Plc has unveiled a five-year growth plan aiming for ₦300 billion in revenue by 2029, focusing on expanding operations, improving efficiency, and driving profitability.
The plan was unveiled at a recent Nigerian Exchange (NGX) closing gong ceremony.
The company’s chairman, Seinde Fadeni, expressed strong confidence in reaching this target.
He highlights NAHCO’s proven resilience and consistent growth in turnover and profitability over the years.
Fadeni emphasised NAHCO’s commitment to boosting profitability through substantial investments in its workforce and equipment.
For instance, the company has already begun receiving modern ground support equipment (GSE) and plans to replace its ageing equipment by 2026.
Furthermore, he reassured stakeholders that the board remained dedicated to upholding good corporate governance and fostering sustainable growth.
The group executive director, Sola Obabori, shared the company’s financial projections.
Read Also; Federal Investment In Agricultural Roads And Electricity Totals ₦18bn
He stated that NAHCO expects turnover to reach ₦38.49 billion in 2024, ₦71.12 billion in 2025, and ₦300 billion by 2029.
This growth will stem from various sectors, with ₦120 billion coming from ground handling, ₦40 billion from cargo handling, and ₦36 billion from logistics services, alongside contributions from other subsidiaries.
Obabori also outlined the company’s transformation strategy, focusing on accelerating growth, achieving operational excellence, embracing digital leadership, and fostering a transformed company culture.
He assured stakeholders that NAHCO would meet specific performance goals while expanding its service offerings.
Finally, CEO of Nigerian Exchange, Jude Chiemeka, praised NAHCO for its resilience and significant contribution to Nigeria’s economic growth.
He highlighted that the company paid ₦3.1 billion in taxes in 2023, underlining its crucial role in supporting government revenue.
