Nigerian Aviation Company contributes over $70bn to economy


By Oyise Oghene
Deputy Vice Chairman of the Board of Directors of the Nigerian Aviation Handling Company, Nacho aviance PLC, Alhaji Suleiman Yahyah yesterday said that the company has contributed over US$70billion in improving the economy growth of Nigeria as a nation.

Disclosing this development to newsmen during the commissioning of the company’s modern cargo warehouse at a street value of N1.9billion, Alhaji Yahyah pointed out that the warehouse has the capacity to handle about 270 million tonnes of cargo as against the 17 million tonnes the previous warehouse was handling.

According to him, Nacho has invested over US$70billion in the Nigerian economy and our next target is to embark on our expansion plans and we will finally move to the last phase which is the consolidation of our gains and hopefully that will kick off in 2015.

“Nacho contributed to the economy, it must be stated that between 2006 and 2011, we paid concession fees to the Federal Airport *uthority of Nigerian (FAAN) N1.9billion, we paid N2.2billion to the Federal Government as tax, we paid, N2.9billion to shareholders and N9.6billion to our staffs” he added.

He further noted that Lagos airport should be developed as a hub in Nigeria as well as the West Africa Sub-region adding that passengers can fly for close to six to seven hours from Lagos to other parts of the world.

Also speaking at the event,the Minister of Aviation, Princes Stella Oduah who was ably represented by the Managing Director of the Federal Airport Authority of Nigeria, (FAAN), Mr. Goerge Uresi said that the construction of a massive terminal by Nacho aviance was a part of the transformation agenda of President Goodluck Jonathan.

He further noted that the president administration of President Goodluck Jonathan was posies towards transforming Nigerian airports into a whole class airport.

She said”Let me use this opportunity to reiterate the commitment of the Federal Government and the ministry of aviation to transform all the airports in thsi country. We have completed the 1st phase of 11 airports, we are moving into the 2nd phase by ;une and the 3rd phase will entail the expansion and remodelling of four international airports which are in Lagos, Abuja, Port Harcourt and Kano”

“What we are doing goes beyond remodelling of the airports, we are actually doing restructuring and reconstructing of the airports. As you have seen, we are just starting to go round the airport. we are doubling the sizes of those terminals and changing all the facilities and utilities within the airport” she added.


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