The Chairman of Nigerian Aviation Handling Company (NAHCO), Alhaji Suleiman Yahyah, has said the company will continue to pay dividends to shareholders.
Speaking at the Closing Gong Sounding ceremony on the floor of the Nigerian Stock Exchange (NSE) in Lagos, Yahyah said since the company was privatised and listed on the exchange in 2006, it has remained consistent with dividend payment.
“I want to assure shareholders that this year will not be different. We will continue to declare healthy dividend in line with our consistent dividend strategy,” he said.
According to him, since its privatisation, the company has embarked on business diversification programme that cuts across industries and geography. He said the company has developed strategic global alliances through its membership of aviance, the global alliance of 10 reputable airport service providers operating from 112 stations in 17 countries, and The International Air Cargo Association (TIACA), which exists to promote the air cargo industry and world trade.
Yahyah noted that from a single business company, NAHCO has grown into a diversified group that is not only in cargo and passengers handling, but is also into agriculture, free trade zone and energy.
He said: “We are ready to go on the investment in the free trade zone. The licence has been secured, the partnership with International Development Ireland,had been signed, management is in place and market is looking good. We are also investing in our agric zone development ,which is part of free trade zone, a sub element of using our platforms in Lagos, Abuja, and Port Harcourt. Already 10 per cent of our earnings is coming from export. So we want to deepen it in view of the difficulty now in the forex market. So we will fast track that investment and hopefully, that should begin show in our performance by the end of 2016. Besides, we are also are moving to other African countries. We are licensed in Senegal and Cote d I’voire. Now is the time to make those investment decisions active.”
He disclosed that NAHCO invested over N10 billion in equipment, saying these equipment made the company to be about 150 per cent self-sufficiency.
He said the company has enough equipment and is ready for the new terminals that are coming Lagos, Port Harcourt, Kano and Abuja terminals.
“Our future remains to deepen our market presence, deepen our corporate governance culture and strengthen the board, which is stable and experienced and management to face the challenges in the economy. We also believe that our agric zone and free trade zone will provide continuous sustainability to the investors,” he said.