By Chinelo Obogo
Nigerian Aviation Handling Company Plc (nahco) is targeting N100 billion in revenue in the next five years, its chairman, Dr. Seinde Fadeni, has said.
The company said it has concluded plans to diversify its investment portfolio in order to create new jobs and contribute significantly to resolving the country’s foreign exchange crisis.
Fadeni disclosed this at the weekend at the sidelines of the Annual General Meeting held in Lagos, where he said the company is exploring new areas of investment in order to trigger a positive economic impact.
According to Fadeni, the company is convinced that food export holds significant potential for foreign exchange earnings because of its impact on the livelihoods and prosperity of many Nigerians.
He said though the company was navigating safely around the myriad of challenges confronting the air transport space, he urged the government to look at ways of improving airport infrastructure to keep pace with the future growth plan.
He said industry stakeholders have an obligation to look at implementing policies that support sustainable aviation fuel.
Fadeni said concrete targets should be set and steps taken to execute innovations that support the industry and the world’s net zero CO2 emission goals.
His words: “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, 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 to both active and prospective investors. 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.”
Fadeni said as much as the company supports the Federal Government’s Renewed Hope Infrastructure Development Fund, especially as it relates to the aviation industry and its plan to upgrade infrastructure at the airports, such declaration should have overall industry impact.
Also speaking, its Group Managing Director, Mr. Indranil Gupta, said the company intends to diversify investment into other sector’s of the economy to grow. He said NAHCO would continue to invest in operational equipment to drive sustainable growth.
“We will continue to leverage our strength and market insights to pursue organic and strategic growth initiatives to expand our market presence and revenue streams. We plan to comprehensively refresh our fleet of ground support equipment to replace aging equipment and increase the numbers in our fleet to meet the ever-increasing customer needs and expectations.
“ We are already embracing digitalization and innovation, investing in cutting edge technologies and solutions to enhance our service offerings, operational efficiency and competitiveness. By harnessing the power of data analytics, automation and predictive maintenance, we aim to stay ahead of the industry trends and deliver superior value to our clients,” Gupta said.