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Nigerian Aviation Handling Company plc (nacho aviance), which has interests in diverse areas including aviation cargo and aircraft handling, says its transformation agenda aims at achieving a five-fold revenue increase from its 2017 level, and maximising corporate value through a group structure.
Adoption of the transformation agenda followed a decision by the new Board of the company in October 2018 to undertake a “holistic view and completely business review” of Nahco, to chart a new path for the company, group managing director and chief executive officer, Olatokunbo Fabgemi, told business editors in Lagos over the weekend.
Nahco commissioned international consulting firm, KPMG, last November to undertake the review, and the result was ready by Decmber, said Fagbemi, who joined the company in December. She arrived as the third CEO at in about two years at the company.
In the new structure, the group comprises Nahco as a company, with subsidiaries NAHCO Free Zone (NFZ), Nahco Nahco LNG Power Infrastructure, and Mainland Cargo Options Limited (MCO), which has been set up but not operational yet, said Fabgemi.
“If you run as a group, then you can run cost collaborations, have efficiency; you can do cost marketing in such a way that we can optimise the value of the group. That means we will increase the revenue and we will be able to reduce that cost,” Fabgemi explained.
Nahco, she said, had been experiencing increases in both operating administrative costs. “We have ageing equipment, which means higher maintenance cost and higher utilisation of fuel,” explained. According to her, the price of diesel, the fuel most used by the company, has risen, adding to the increase in operational cost.
As part of the transformation programme and in response to the rising costs of fuel, Nahco plans to embark … Read More...