Nigerian Aviation Handling Company Plc has announced its intention to disburse billions of naira to upgrade its state-of-the-art equipment and technology before the end of this year, 2019.
NAHCO intends to invest N3.6 billion to upgrade the company’s equipment to enable them to improve on their services to clients, the Group Managing Director, Tokunbo Fagbemi said.
Fagbemi, who was appointed GMD in December last year, disclosed the company already made an investment of N1.9 billion so far, and NAHCO plans to double the investment before the year ends.
“In terms of investment, in the last couple of months, we have invested over N1.9 billion in equipment which will be doubled by the end of the year, but you will begin to see the equipment by the end of the first quarter, the first set. The next set, by the end of the year, we would have spent about N3.6 billion on equipment,” she said.
Synergising subsidiaries
There are plans by NAHCO to synergise the company’s subsidiaries for better and effective management across board. Fagbemi said the plan wouldn’t change the company’s core values and other plans in the work.
“We have new core statements, new core values and we decided that we will work as a group structure because when you look at the audited financial statement in NAHCO Aviance, you will realise there is a consolidated account and we have three subsidiaries.
“We have NAHCO energy, NAHCO free trade zone, the Mainland cargo options, we have the energy power and infrastructure company and all these companies are being run and what we want to do is put them together to get synergy so we can get the full benefit of the business.”
She added that there isn’t a clash between the old vision of the company and new vision which she is spearheading. Stating that both visions are similar when compared to each other. Fagbemi said there is a need to constantly make business review in order to move forward.
“It is important for a business like ours to go forward. We cannot plan to move forward if we do not know where we are. So we had to invest and we are still investing with KPMG on a business review. Our new vision is not too far from the old vision we had, which is to be the leading service provider, reshaping our chosen market,” she said.