Following this strong showing, the board of directors, led by Dr. Seinde Fadeni, has proposed a 134% increase in dividend payout to shareholders, amounting to ₦11.58 billion in cash dividends—up from ₦4.95 billion the previous year. This translates to ₦5.94 per share, making it one of the most generous payouts in the Nigerian capital market.
After taxes, NAHCO’s net profit soared to ₦12.86 billion in 2024, marking a 132% increase from ₦5.54 billion in 2023. Earnings per share similarly rose to ₦6.60, up from ₦2.84 the previous year, underscoring significant value creation for shareholders.
According to a corporate statement issued on Sunday, the company noted that the performance represents a significant milestone as it embarks on a transformative five-year growth plan. With its 2024 revenue already 39% above the projected ₦38.49 billion for the year, NAHCO has kicked off the growth plan with impressive momentum.
The five-year strategy, first unveiled in December 2024 during a session with investors at the Nigerian Exchange, outlines a progressive revenue growth trajectory: ₦71.12 billion in 2025, ₦101.93 billion in 2026, ₦146.07 billion in 2027, ₦209.34 billion in 2028, and ₦300 billion by 2029.
A breakdown of the projected ₦300 billion reveals a multi-sectoral approach:
- ₦120 billion from core ground handling services
- ₦40 billion from cargo handling
- ₦36 billion from NAHCO Logistics Services
- ₦80 billion from NAHCO Commodities
- ₦15 billion from NAHCO Free Zone
- ₦7 billion from NAHCO Travel & Hospitality
- ₦2 billion from NAHCO Aviation Academy
Chairman Dr. Fadeni emphasized that the company is well-positioned to meet these targets, thanks to ongoing investments in infrastructure, talent, and innovation. “To increase profitability and sustain high dividend payouts, NAHCO is investing heavily in manpower and equipment,” he noted. “This is just the beginning of consistent bumper returns to investors.”
Group Executive Director of International Business and Corporate Services, Dr. Sola Obabori, outlined a comprehensive transformation framework built around four pillars: accelerating business growth, achieving operational excellence, leading with digital transformation, and cultivating a forward-looking company culture.
“Our five-year transformation journey will deliver a new NAHCO that is more agile, diversified, and positioned for regional leadership,” Obabori said, affirming the group’s commitment to exceeding performance benchmarks while expanding service offerings across and beyond Nigeria.
The NAHCO Group operates as a diversified conglomerate with interests spanning ground handling, cargo logistics, airport operations, training, energy solutions, and export services. Its subsidiaries include Mainland Cargo Options Limited, NAHCO Free Trade Zone Limited, NAHCO Power Solutions Limited, NAHCO Travels & Hospitality Limited, NAHCO Management Services, NAHCO Aviation Academy, and NAHCO Commodities Limited.
With record-breaking financials, a bold strategic blueprint, and renewed investor confidence, NAHCO is set to play a pivotal role in reshaping Nigeria’s aviation and logistics landscape over the next half-decade.