₦65.82bn revenue, 29.83% profit before tax growth, and 36.02% profit after tax increase define NAHCO’s 2025 performance. The company’s revenue base expanded significantly, reflecting strong operational efficiency and market expansion. In addition, earnings per share rose by 36.14% to ₦8.99, signalling improved shareholder returns across the aviation services group.
The Group Chairman, Dr. Seinde Oladapo Fadeni, confirmed these figures at the 45th Annual General Meeting in Lagos. He noted that NAHCO’s revenue continued to strengthen despite inflationary pressures and rising operational costs. Therefore, the results underline a sustained upward trajectory in both earnings and investor confidence.
NAHCO’s total revenue rose 22.93% to ₦65.82bn in 2025. Meanwhile, profit before tax climbed to ₦24.28bn, compared to ₦18.702bn in 2024. The company’s revenue base expansion reflects improved cargo handling, logistics efficiency, and wider service uptake across key aviation hubs.
Revenue Base Strengthens Amid Operational Efficiency Drive
According to Dr Fadeni, NAHCO’s revenue base reflects disciplined cost management and aggressive market positioning. He stated that shareholders should be pleased with the company’s consistent upward movement across all performance indicators. He further added that operational excellence has remained central to the company’s financial resilience.
“In 2025, NAHCO recorded impressive growths across key performance indicators, combining a strong push for market share with disciplined cost management,” he said. This performance further solidifies the company’s revenue base, even in a challenging macroeconomic environment.
Dividend strength remains a key highlight. The board recommended N6.25 dividend plus a bonus issue of 1 for 7 shares. Consequently, the improved revenue base supports continued investor rewards and long-term value creation.
NAHCO Group Managing Director and CEO, Mr Olumuyiwa Olumekun, said the company has strengthened its position as West Africa’s leading aviation logistics provider. He noted a 188% year-to-year stock gain and market capitalisation above ₦200bn. Furthermore, NAHCO’s revenue base is projected to rise as diversification plans target over N300bn in future revenue.
In addition, the company acquired over 271 ground support equipment units over three years. This upgrade improves efficiency and sustainability, reinforcing NAHCO’s revenue base through modernised operations aligned with global aviation standards, including guidance frameworks from the International Civil Aviation Organization.
Shareholders applauded the performance at the AGM. President of the Association for the Advancement of the Rights of Nigerian Shareholders, Dr Farouk Umar, praised the growth in share price and dividends. He observed that NAHCO’s revenue base expansion has directly boosted investor confidence and market valuation.
He noted that the share price rose from about N80 to over N200, representing more than 250% growth. Therefore, the company’s revenue base remains a strong driver of capital appreciation and future dividend expectations. Another shareholder, Mr Patrick Ajudua, described NAHCO as a top-tier investment destination.
During the meeting, three Non-Executive Directors were re-elected, ensuring governance stability. In addition, PwC was appointed as external auditor, replacing EY. These changes are expected to further strengthen oversight and support NAHCO’s revenue base expansion strategy.
NAHCO’s outlook remains strong as it targets new markets and service contracts. However, inflation and fuel costs remain key challenges affecting margins. Still, management insists that the company’s revenue base will continue to grow through diversification, efficiency gains, and strategic partnerships.
Ultimately, the company’s 2025 performance signals a resilient trajectory. With expanding operations and rising investor confidence, NAHCO’s revenue base is positioned to remain a central pillar of long-term aviation sector growth in Nigeria.
