Nigerian Aviation Handling Company Plc (NAHCO) has reported ₦48.64 billion in total assets for the nine months ended September 30, 2025, marking a modest increase from ₦46.95 billion recorded as of December 31, 2024.
The company’s unaudited consolidated and separate financial statements, approved by the Board of Directors on October 30, 2025, indicate steady financial resilience, driven by growth in non-current assets and improved retained earnings.
According to the report signed by Mr Olumuyiwa Olumekun, Group Managing Director, and Mr Adeoye Emilojju, Chief Financial Officer, NAHCO’s non-current assets stood at ₦27.09 billion for the Group in Q3 2025, compared to ₦24.42 billion as of December 2024.
The increase was largely attributed to a rise in property, plant, and equipment, which climbed to ₦26.10 billion, reflecting the company’s continued investment in ground-handling infrastructure and operational equipment.
Current assets closed the quarter at ₦21.55 billion, only slightly below ₦22.54 billion reported at the end of 2024. Within this category, cash and cash equivalents improved to ₦8.18 billion, up from ₦6.16 billion in December 2024, signalling stronger liquidity management.
The company also reported trade and other receivables of ₦10.25 billion and prepayments of ₦1.84 billion, while inventories rose to ₦1.27 billion, showing the Group’s ability to maintain steady operational inputs.
On the equity side, NAHCO maintained a strong capital base, with total equity attributable to shareholders increasing to ₦21.92 billion, compared to ₦20.04 billion at the end of 2024. The company’s retained earnings rose significantly to ₦19.20 billion from ₦17.31 billion recorded in December 2024 — an indicator of consistent profitability and earnings retention.
The statement also shows that non-current liabilities marginally increased to ₦5.19 billion in September 2025 from ₦5.07 billion in December 2024, while current liabilities slightly decreased to ₦21.50 billion, down from ₦21.81 billion in the prior year.
Within the liabilities structure, interest-bearing loans and borrowings amounted to ₦2.06 billion, lease liabilities stood at ₦1.25 billion, and current tax liabilities closed the quarter at ₦5.16 billion.
Overall, the company’s total equity and liabilities balanced at ₦48.64 billion for the Group and ₦45.03 billion for the Company, compared to ₦46.95 billion and ₦44.96 billion, respectively, at the end of 2024.
Industry analysts say the company’s continued improvement in asset value and retained earnings underscores its stability amid challenges in Nigeria’s aviation sector, such as currency depreciation and rising operating costs.
The Board’s approval of the Q3 2025 report, according to the signed statement, reflects NAHCO’s sustained commitment to accountability and adherence to regulatory reporting standards under the Financial Reporting Council of Nigeria (FRCN).
Key Highlights (as of September 30, 2025):
Total Assets: ₦48.64 billion (up from ₦46.95 billion in Dec 2024)
Non-Current Assets: ₦27.09 billion
Current Assets: ₦21.55 billion
Retained Earnings: ₦19.20 billion (up from ₦17.31 billion)
Total Equity: ₦21.92 billion
Total Liabilities: ₦26.68 billion
Cash & Cash Equivalents: ₦8.18 billion
Property, Plant & Equipment: ₦26.10 billion
