By Favour Nnabugwu

The Nigerian Aviation Handling Company (NAHCO) has invested N1.4 billion to upgrade infrastructure and equipment after privatisation ten years ago, its Managing Director, Mr. Nobert Bielderman has said. Bielderman who led a delegation on a visit to the Acting Director-General of the Bureau of Public Enterprises (BPE), Dr. Vincent Onome Akpotaire in Abuja, said that NAHCO was poised to sustain its position as a leading success story of the privatisation and reform programme of the Federal Government.

“NAHCO has since its privatisation in 2006, invested N1.4 billion to upgrade its infrastructure.” The NAHCO boss said that having grown NAHCO’s revenue base from N3.5 billion to N8.5 billion in the last six years, the enterprise was determined to sustain the tempo, despite the current economic downturn.

He added that 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 company’s revenue base.

According to him, the company 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.