Shareholders of Nigerian Aviation Handling Company Plc (NAHCO) on Tuesday hailed the board and management of the company for its diversification programme, just as they approved the N324.8 million dividend recommended for the year ended December 31, 2015.
Apart from its major aviation services including cargo, aircraft handling , passenger facilitation, crew transportation, NAHCO few years back embarked on a diversification programme that led to the establishment of a subsidiary, The NAHCO Free Trade Zone(NFZ) and lately, The NAHCO Agri-Zone Project.
Speaking at the 35tha annual general meeting of the company in Abuja, shareholders of the company said the diversification programme has become strategic given the current economic challenges.
For instance, the National Coordinator, Independent Shareholders Association of Nigeria (ISAN) Sunny Nwosu said the shareholders were very happy that the NFZ has finally taken off and will serve as major income earner for the company in these challenging times.
“We are happy that the NFZ has taken off and The NAHCO Agri-Zone will soon commence business. This is a development that is worth commending. It shows that we have a board and management that think ahead ,” he said.
Addressing the shareholders, the Chairman of NAHCO, Alhaji Suleiman Yahyah, said the NFZ has already started attracting high quality international customers to its facilities, which is under development based on the phase one of the master plan.
“Our operating and management partners of the NFZ, International Development of Ireland(IDI), are fully in charge of the operations and management of the zone. The IDI has an international track record of establishing the first trade zone in the world at Shannon, Ireland,” he said.
On The NAHCO Agri-Project in 2016, he said it is will be domiciled in Abuja and is in partnership with Dube Trade Port of South Africa, adding that it will be involved in the value chain addition and processing of Nigerian produced fruits and vegetables for local Nigerian market and exports to the rest of the world.
“These steps will improve our efficiency and consolidate on our diversification strategy started five years ago so that you company will stay on a strategic growth path in the near term to mitigate the head wind we foresee,” he declared.