Nigerian Aviation Handling Company PLC, NAHCO Aviance, weekend, says it is targeting N100 billion in the next five years.

Chairman of the company, Dr Seinde Fadeni, also said plans had been concluded to diversify its investment portfolio in order to create new jobs and contribute to resolving the country’s foreign exchange crisis.

Addressing newsmen in Lagos, Fadeni said the NAHCO was exploring new areas of investment in order to trigger a positive economic impact.

According to Fadeni, the company was convinced that the food export holds significant potential for foreign exchange earnings because of its impact on the livelihoods and prosperity of many Nigerians.

He said although the company was confronting the challenges in air transport space, Fadeni further urged the government to look at ways to improve airport infrastructure to keep pace with the future growth plan.

His words: “NAHCO believes that the government at the centre should work towards reducing the financial burden for airlines and passengers by reviewing applicable taxes . This way, more payees would be brought into the tax net. Not too long, the international Air Transport Association declared that Nigerian airports charge foreign airlines about 27 levies.

“This makes Nigerian airports the most expensive in the world, discouraging airlines from flying into the country. This is not the kind of  laurel Nigeria should be proud of. It is a disincentive to investment to both active and prospective investors. Government should address this situation. Government should also heed the industry’s calls for the harmonisation of the regulatory environment, particularly at the ports in a way that aligns with global best practices. The nation’s ease of doing business mantra should be in practice, not in theory only.

“The very act of getting new rates approved has its challenges as well. It is therefore not uncommon to see ticket prices rising geometrically while ground handling rates charged by service providers to airlines remain solidly stagnant. Our push towards birthing a global integrated logistic giant is taking good shape with the coming into operations of new subsidiaries.”

Also speaking, Group Managing Director/ Chief Executive Officer of the company, Mr Indranil Gupta, said the company intends to diversify investment into other sectors.

Gupta said: “We will continue to leverage our strength and market insights to pursue organic and strategic growth initiatives to expand our market presence and revenue streams

“We plan to comprehensively refresh our fleet of ground support equipment to replace aging equipment and  increase the numbers in our fleet to meet the ever increasing customer needs and expectations.

“We are already embracing digitalization and innovation, investing in cutting edge technologies and solutions to enhance our service offerings, operational  efficiency and competitiveness. By harnessing the power of data analytics, automation and predictive maintenance , we aim to stay ahead of the industry trends and deliver superior value to our clients “