Nigerian Aviation Handling Company (NAHCO) Plc has acquired another set of ground support equipment valued at about half a billion naira.
The investment is part of the N3.6 billion equipment proposed in 2019 for injection into the company to aid facility upgrades and enhanced service delivery. The new delivery is the first of two sets expected before the end of the first quarter of 2020.
The company has also completed the renovation of the cargo complex, which houses the airlines, cargo agents, banks, and other clients.
Group Managing Director and Chief Executive Officer of NAHCO, Tokunbo Fagbemi, said the plan was to make NAHCO customer-centric, and with this renovation, as well as the ongoing equipment purchase, “we are providing our clients a conducive environment to operate.”
“We are also coming up with fresh innovations to offer our numerous clients better deals, and retain a minimum of 65 per cent market share in aviation ground handling business.
“We will continue to strive for excellence at all times. This is just part of the equipment being expected, some more will be delivered in the coming days. The era of inadequate equipment is sure to be over soon,” Fagbemi said.
The GMD, however, attributed the company’s current low turnout to the COVID-19 pandemic, stating that it adversely impacted its operations.
She said despite the pandemic, NAHCO’s five-year transformation plan was still on course, apart from the significant slowdown as a result of the closure of the airports, expressing hope that the company is optimistic to scale through the hurdles.
NAHCO Plc is a Nigerian diversified enterprise with interests in aviation cargo, aircraft handling, passenger facilitation, crew transportation, and aviation training.
The company currently serves several airlines across the major functional airports within Nigeria and handles the largest chunk of domestic, foreign, and cargo airlines.
In 2005, NAHCO was privatised and listed on the Nigerian Stock Exchange in 2006. The Company is now owned by over 80, 000 shareholders, as well as local and institutional investors.
Again, Falana Asks FG to Reverse Petrol Price, Electricity Tariffs Hike
The Chairman of the Alliance for Survival of COVID-19 and Beyond (ASCAB) and human rights lawyer, Mr. Femi Falana (SAN), has faulted the federal government’s claim that revenue has dropped in the greater parts of 2020.
The group, in a statement issued by Falana, asked the federal government to cancel the fuel and electricity prices’ hike.
Falana said the government’s claim of revenue shrink was fraught with inadequacies and figures that fail to reflect the country’s economic realities.
The group listed gross mismanagement of public funds, ineptitude, and gross incompetence as Nigeria’s albatross.
It regretted that huge funds earmarked for the energy sector by notable members of the ruling class have consistently been frittered.
ASCAB said that since the federal government has announced plans to switch from petrol to Compressed Natural Gas (CNG), the increase in petrol should be cancelled without delay.
Minister of State for Petroleum Resources, Mr. Timipreye Sylva has assured the that CNG would be sold between N95 and N97 per litre.
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed had cited revenue shortfall as reasons behind the government’s recent fuel and electricity tariffs hike.
Falana maintained the minister’s claim does not reflect the state of the economy.
ASCAB listed certain factors that puncture the government’s claim.
“In the first half of this year, oil income distributed by the Federal Allocation Committee (FAAC) was actually 13 per cent above that for last year and the level for the first quarter had been the highest for several years.
“However, other income, taxes, etc, may have fallen due to the lockdowns and other disruptions from Covid-19.
“NEITI reported that in the first five months of this year, total government revenue was only 62 per cent of the level agreed in the budget, but the revenue budgets are always over-optimistic,” ASCAB said.