The Nigerian Aviation Handling Company (NAHCO) Aviance has now said that Nigeria’s exportation of perishables has increased from 2% to about 12.5% in the last one year. The items exported were mainly fruits , vegetables and hair products. The United States is the major export market.
Despite the increase in exports, NAHCO is still faced with some challenges in handling these increased exports. The company lacked adequate x-ray machines to scan the products and the cost of maintaining the machines was quite high. products being exported were poorly packaged. In addition, the company faced capital constraints to expand its business.
Difficulties in raising capital appear hard to fathom because NAHCO has embarked on several capital raises in the last decade, and is presently paying off the proceeds of a bond. The company has also maintained a steady dividend payment history. Rather than a lack of capital the company appears to be poorly managed.
NAHCO shares closed at N3.43 in yesterday’s trading session on the Nigerian Stock Exchange (NSE) up 8.43% year to date. NAHCO recently announced the resignation of its MD, Mr Nobert Bielderman. Mrs Folashade Ode has been appointed as acting MD.
NAHCO Aviance commenced operations on April 4, 1979 with operations at the Muritala Mohammed International Airport (MMIA), but currently operates across 35 airports in the country. The Federal Government initially held a 60% stake in the company, but NAHCO was privatized and listed on the NSE in 2005.