The Nigerian Aviation Handling Company (NAHCO) has invested N1.4 billion to upgrade infrastructure and equipment since after privatization, its Managing Director, Nobert Bielderman has disclosed. Head, Corporate Communications at Bureau of Public Enterprises( BPE) Alex Okoh said NAHCO made the disclosure when he led other management staff of the company on courtesy visit to the Acting Director General of the Bureau of Public Enterprises (BPE), Dr. Vincent Onome Akpotaire in Abuja. He said NAHCO was poised to sustain its position as a leading success story of the privatization and Reform Programme of the Federal Government. Bielderman 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 said 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. He assured the shareholders of prompt payment of their dividends as has become the trend in the past years. He said the company pays N26million as taxes to the Federal and State Governments annually and attributed this to the dividends of privatisation.
Responding, the Acting Director General of BPE, Dr. Vincent Onome Akpotaire noted the giant leaps by NAHCO and said it was indeed a success story of privatization. He promised to assist the company to overcome some of its challenges. While noting that though the Federal Government had no equity in the enterprise since its privatisation, the Bureau was keenly interested in NAHCO’s progress. He applauded the company’s position on the NSE ratings and its second position on the Global Risk Rating Award. He however urged the company to do more in the area of Corporate Social Responsibility (CSR).