NAHCO Invests $70m In Five Yrs

Nigerian Aviation Handling Company of Nigeria (NAHCO), says
it has invested $70 million in Nigerian economy in the past five years.

The company also mentioned that it had spent N17.5 billion
on concession fees to the Federal Airport Authority of Nigeria (FAAN), taxes
dividends and staff salaries.

The Vice chairman NAHCO Aviance, Suleiman Yahya who
disclosed this during the commissioning of the modern cargo warehouse said
between 2006 and 20011 concession fees paid to FAAN was in excess of N1.9
billion while Federal Government taxes came to N2.2 billion.

He noted that the company had paid shareholders’ dividends
at N3.9 billion while the salaries paid was N9.6 billion.

According to him, with these steady developments over the
last five years there is need for effective collaboration between public and
private agencies  to develop hubs that
will in turn generate employment for the teeming youth in the country.

“In the last five years NAHCO has been a major facilitator
to the Nigerian economy,” he said.

He recalled that the immediate past Board of NAHCO under the
leadership  of Ambassador Dele Cole had
inherited a whooping N150 million debt with some cash at hand, stressing that
in the next three years that followed the company generated a cash reserve of
N2 billion.

Earlier in his speech, the managing Director of NAHCO
Aviance Kayode Olusegun Ojo said the need to build the N1.9 billion modern
warehouse was not just as a result of replacing the old warehouse, but was a
response to the clarion call by the Federal Government to improve on
infrastructural development.