NAHCo Injects N1.4billion Into Infrastructure

Nigerian Aviation Handling Company, NAHCo, has invested N1.4billion to upgrade infrastructure and equipment after its privatization.
The Managing Director,Nobert Bielderman, who made this known when he led other management staff of the company on courtesy visit to the Acting Director-General of the Bureau of Public Enterprises (BPE), Vincent Onome Akpotaire in Abuja, said NAHCo was poised to sustain its position as a leading success story of the privatisation and reform programme of the Federal Government.

A statement endorsed by BPE Head, Public Communications, Alex Okoh explained that Bielderman said having grown NAHCo’s revenue base from N3.5billion to N8.5billion in the last six years, the enterprise was determined to sustain the tempo, despite the current economic downturn.

He said the investments made in the acquisition of new equipment, human capacity development and good corporate governance would enhance optimal service delivery and shore up the firm’s revenue base.

According to him, the firm which was privatised through a public offer in 2006 and promptly listed on the Nigerian Stock Exchange (NSE), has recorded favourable profit margin for shareholders above the 50 kobo share price before privatisation.

He assured the shareholders that managemnt will sustain the prompt payment of their dividends.

He said the firm paid N26million as taxes to the federal and state governments yearly and attributed this to the dividends of privatisation.

 

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