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NAHCO to leverage on N3.9bn facility to boost profitability

Nigerian Aviation Handling Company Plc, NAHCO Aviance, has declared its preparedness to leverage on the opportunities presented by its N3.925 billion ($25 million) ultra modern warehouse facility to deliver improved returns on investment to shareholders and further strengthen its position in the aviation industry in the years ahead.

Speaking in Lagos during a visit to the Nigerian Stock Exchange, NSE, Mr. Kayode Oluwasegun-Ojo, Managing Director/Chief Executive Officer of the company, said the warehouse project which has many benefits to the Nigerian economy, will not only help boost the fortunes of the company but would also bring about an increase in revenue accruable to the Federal Government.

He added that the facility would provide a better and conducive working environment for the Nigerian Customs Services at the Murtala Muhammed Airport Ikeja where the warehouse is located.

Oluwasegun-Ojo disclosed that the company has started to enjoy the benefits of its transformation programme, which has started to yield the desired results and helped in no small measure in transforming the face of the aviation industry.

According to him, the project has placed Nahco Aviance at the vantage position of sustaining its leadership position for the coming years.

He added that the installation of modern cold-room equipment had increased the revenue generation capacities of the import and export warehouses.

He emphasized that the company had stepped up efforts in bringing satisfying travel experience to Nigerians and the international community.

Oluwasegun-Ojo said, “The new warehouse has an increased capacity of approximately 21,000 square metres, an increase of over 50 per cent in storage space when compared with the old structure. The huge facility gives our company the needed platform to develop a regional cargo hub at the Murtala Mohammed International Airport.

“Crowd control and security of the warehouse have already been addressed by the installation of computerised access control system and intelligent Closed Circuit Television, CCTV.

“This will reduce to the barest minimum the incidence of pilferages and missing cargoes while eliminating associated consignee claims.

“In the last one year, we have invested about N2 billion in the procurement of about four hundred state-of-the-art Ground Support Equipment. This is in addition to the N68 million export cargo screening system commissioned recently by the Director-General of Nigerian Civil Aviation Authority, Dr. Harold Demuren, the first of its kind in West Africa.”

In his remark, Mr. Oscar Onyema, Chief Executive Officer, NSE, commended the efforts of Nahco Aviance and solicited the cooperation of the company in the bid to transform the NSE.

He said that the NSE was going through transformation and he needed the co-operation of quoted companies like Nahco Aviance to succeed.

Onyema said the exchange was introducing value added services to serve the listed companies.


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