In a move that further consolidates its industry leadership as West Africa’s foremost ground handling service provider, Nigerian Aviation Handling Company Plc (NAHCO Aviance), says it has renewed its contract with major carriers like Qatar Airways and Saudia (formerly Saudi Arabia) Airlines.
NAHCO said the contract with Qatar Airways, the Middle East’s pre-eminent carrier, was extended for an additional three years, reinforcing a partnership built on consistent operational excellence, while its long-standing alliance with Saudia Airlines will continue for another five years.
These partnership, according to a statement, underscore the trust that major international operators place in NAHCO’s service capabilities, in addition to a new three-year contract agreement with FlyGabon, the emerging Central African carrier seen as a
The deal with FlyGabon which ends in September 2027, following which NAHCO’s portfolio now coincides with the airline’s strategic expansion into Nigeria, where it aims to deliver seamless connectivity across West, Central, and Southern Africa.
These new agreements complement earlier contracts secured with Sky 7, Pioneer, Avia Green, Binani, and the Aviation Clearing House, added to the previously announced renewals with European carriers Air France, KLM, and Virgin Atlantic, as well as African operator RwandAir, demonstrating NAHCO’s ability to maintain and grow partnerships across diverse geographic and operational profiles.
Speaking on the various partnerships and what they mean for the company, Prince Saheed Lasisi, Group Executive Director, Commercial and Business Development at NAHCO Plc, expressed pride in the company’s ability to secure long-term commitments from such a diverse range of operators.
These contracts, he believes, affirm NAHCO’s position as the undisputed market leader in West African ground handling, expressing the management’s preparedness “to exceed the expectations of these partners, drawing on more than 40 years of unblemished service to maintain our reputation for excellence.”
Also reacting, the Group Managing Director and Chief Executive Officer, Olumuyiwa Olumekun, emphasized the company’s dual focus on delivering value to clients and returns to shareholders.
For him, NAHCO’s ongoing investment in technology as a key driver of service quality improvements, assuring of the company’s continued committment “to a strategy that prioritises operational discipline and stakeholder satisfaction, ensuring that NAHCO continues to set the benchmark for safety and reliability in African aviation. We will continue reinforcing our dedication to serving our partners and aiding connectivity for travellers across Africa, providing total handling solutions to our international and local partners.”
The company said it has demonstrated a consistent earnings trajectory that has supported a clearly upward trend in investor rewards, while maintaining an uninterrupted annual dividend payment record, reinforcing sustained investor confidence over the past decade.
Dividend growth, it stressed, has accelerated significantly from ₦0.125 per share in 2020, during the pandemic-affected period, to ₦6.25 each for the 2025 financial year — a remarkable recovery that reflects both operational resilience and strategic focus.
As of May 6, 2026, NAHCO’s dividend yield stood at 3.10%, with a payout ratio of 66.10%, while its five-year dividend growth rate is reported at 64.90% annually.
The most recent ex-dividend date was May 4, 2026, with a payment date of May 15, 2026, comprising a cash dividend of ₦6.25 per share and a bonus issue of one new share for every seven held.
Despite macroeconomic headwinds including the impact of the US-Iran conflict, the statement said NAHCO showed resilience, delivering an impressive first quarter, attributed to its diversified revenue streams and strategic investments in subsidiary operations, thereby reducing dependence on any single market segment.
