BPE Scores SAHCO, NAHCO Post-Privatisation Performance High

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By Ndubuisi Francis in Abuja
The Bureau of Public Enterprises (BPE) has expressed satisfaction with the sterling performance of Skypower Aviation Handling Company (SAHCO) Plc,  nine years after it was privatised.
The privatization agency also gave plaudits to the Nigerian Aviation Handling Company Plc (NAHCO Aviance), another high-performing company in the aviation sector which the BPE superintended over its sale about 14 years ago  via an Initial Public Offering (IPO).
The Director, Development Institutions & Natural Resources, BPE, Mr. Chigbo Anichebe, who expressed the agency’s excitement over the outstanding performance of the two companies during a routine post-privatisation assessment tour in Lagos, recently, particularly observed that SAHCO was doing a lot better than expected.
He told the SAHCO management, led by its Managing Director, Mr. Basil Agboarumi who received the BPE team at the company’s corporate headquarters, that the privatisation agency is currently working with the National Council on Privatisation (NCP) to exclude the ground handling firm from the routine biennial post-privatisation exercise.
The move to exclude SAHCO from the continuous monitoring exercise, Anichebe noted, was informed by its top notch- performance over the years, adding that “from what we are seeing, you have done very well.”
In his remarks, SAHCO’s CEO, Mr. Basil Agboarumi noted that since the Sifax Group’s acquisition of the company in December 2009, there has been massive deployment of the latest technology and global best practices, resulting in  a quantum leap in its operations.
According to him, SAHCO’s deployment of the latest, cutting edge technology has revolutionsied ground handling business, not only in the Nigerian aviation space, but the West African region and beyond, adding that SAHCO presently has the best warehouse in the entire sub-region.
He noted that the company  currently operates in 21 airports across the country and now has several international airlines among its clients, which was not the situation prior to privatisation..
On manpower, he disclosed that SAHCO which currently has a staff strength of over 1,500 highly-motivated  employees as against 900 before it was acquired by the Sifax Group, noting that its engineering department had built a 100 per cent locally-made fuel bowser—the first of its kind in West Africa.
The BPE team, which also visited NAHCo was received by its Group Managing Director, Mrs. Olatokunbo Fagbemi , described privatisation as a “worthy and good step” which widens the horizon of a privatised entity beyond description.
She noted, for instance,  that privatisation has helped NAHCO to scoop international certification, which now gives it latitude to operate globally, adding that privatisation has not only  led to massive revenue generation, but multifaceted expansion in all spheres.
NAHCO’s business growth strategy, she added, has led to the establishment of three subsidiary businesses, including Mainland Cargo Options Limited (MCO), a subsidiary company established towards meeting the objective of harnessing the opportunities of  air, land and sea logistics.
There is also the Free Trade Zone Limited (NFZ) licensed to drive the free trade zone initiative of the federal government at the airports. NFZ is the first airport-based free trade zone in the country;

The NAHCO Energy Power and Infrastructure Limited (EPI) has also been established to tap into the opportunities in the power  sector.