Travel/Tourism
NAHCO Maps Out Strategies to Pay Better Dividend
By Dipo Olowookere
The Group Managing Director of National Aviation Handling Company (NAHCO), Mrs Olatokunbo Fagbemi, has disclosed that strategies have been mapped out to make shareholders of the company happier.
According to her, the growth recorded by the firm lately would be sustained because of the policies identified and implemented by the management.
In its 2017 financial results, NAHCO ended with higher profit after tax (PAT) despite the effect of the recession a year earlier, closing at N776 million versus N581 million in 2016.
In the same year, the finance cost reduced to N231 million from N545 million in 2016, while the earnings per share improved from 36 kobo to 48 kobo. The board then recommended a dividend payment of 25 kobo above the 22 kobo paid the previous year.
Speaking at the ‘Closing of Gong’ ceremony at the Nigerian Stock Exchange (NSE) last Wednesday in Lagos, Mrs Fagbemi expressed optimism that results of the 2018 financial year will be better, while the present 2019 financial year will excite shareholders.
According to her, the five-year transformation plan the management came up with is aimed at making the company perform optimally by maximising its resources for sustainable growth and increased shareholders’ value.
She said under the plan, NAHCO will invest heavily on capacity building for its people, technology and automation as well as facility upgrade to align its operations with international best practice.
“Our top priority is our customers, because when we get everything right for our customers, deliver the right type of services, then you get the right type of income that can trickle down to profit.
“And it is from the profit that we can pay the right kind of dividend, and then it is from being able to drive that kind of service that we can create a company that would be an enviable place to work,” she said at the event, which was attended by the newly directors of the firm, which provides aircraft, passenger, and cargo handling and other related services.
Mrs Fagbemi added that, “We started last year in investing in equipment, and we intend to do more so that we do not wait to run out of equipment. “We are also refreshing our facilities; we do not wait till everything falls apart before we put them together.
“Most importantly, we are also investing in our people, we are doing a lot of transformation, we are turning into a knowledge organisation, and automation is the way to go. We are putting in place systems that will make operations easy for our people.”
By Aduragbemi Omiyale
About 14.12 per cent stake in Ikeja Hotel Plc has been acquired by Honeywell Group Limited, a notice on the Nigerian Exchange (NGX) Limited has revealed.
Honeywell Group took up the part of the hospitality firm through one of its affiliates known as HGL Real Estate Limited.
Ikeja Hotel, in the disclosure filed with the NGX on July 2, 2026, said the stake comprised 305,323,525 units of its equities.
“Ikeja Hotel hereby notifies the Nigerian Exchange Limited and the general public that it has received notification from HGL Real Estate Limited, an affiliate of Honeywell Group Limited, that it has acquired 305,323,525 units of Ikeja Hotel Plc’s shares, representing 14.12 per cent shareholding in the company,” the notice stated.
Ikeja Hotel is one of Nigeria’s leading hospitality investment and hotel management companies with premium hospitality assets.
It operates two leading hospitality organisations in Lagos, the Sheraton Lagos Hotel and Balmoral Convention Centre.
By Aduragbemi Omiyale
About 10 hospitality establishments, including hotels and restaurants, were sealed on Wednesday by officials of the Lagos State Environmental Protection Agency (LASEPA).
The affected businesses are located in different locations in the Alimosho Local Government Area of the metropolis, Business Post learned from a statement from the agency.
It was stated that they were sealed by LASEPA for persistent violations of environmental regulations despite repeated warnings, abatement notices, and several opportunities to comply with the agency’s directives.
According to the notice, the enforcement exercise was carried out in line with the directives of the Lagos State government to ensure strict compliance with environmental laws and to safeguard public health.
The affected facilities were said to have breached various environmental regulations, including noise pollution, air pollution, unlawful discharge of untreated effluent, obstruction of official duties, among others.
LASEPA closed the premises of Granduer Meridian at Obasa Akiniyi Street, Oluwaga, Ipaja for non-compliance with the agency’s directives; Lasola (Spazio Bar), located on Ipaja Road, Fatolu Bus Stop, Ipaja, was sealed for noise pollution and non-compliance with directives; Millennium Restaurant, located at Gate Bus Stop, Ipaja, Ayobo, was shut down for non-compliance with directives; O2 Exquisite Suites & Tower on Jimoh Akinremi Street, Jimoh Bus Stop, Akowonjo, was sealed for non-compliance with directives; and Chirozz Hotel & Suites, located on Samuel Street, Akowonjo, by Vulcanizer Bus Stop, Egbeda, was closed for noise pollution and non-compliance with directives.
In addition, House 7 Hotel, located at Remi Akande Street, Egbeda, was sealed for non-compliance with LASEPA’s directives; House 48 on Isiba Oluwo Street, Egbeda, was sealed for non-compliance with directives; Exclusive Hotel, located at Ishan Kimishe, Akesan Bus Stop, was shut down by non-compliance with directives; Sabola Ventures Limited, Iocated at Km 11, LASU–Isheri Road, Igando, was shut down for operating without evidence of an Effluent Treatment Plant (ETP), and discharging untreated effluent into public drains; and City Int’l Motel, located at Chief Olu-Adegbite Street, off Oladun Street, Council Bus Stop, Idimu, was sealed for non-compliance with directives.
By Modupe Gbadeyanka
Emirates has become the first airline cargo carrier to deploy the Boeing 777-300ERSF passenger-to-freighter converted aircraft.
The aircraft (A6-EBK) will enter commercial service with a flight from Hong Kong to Dubai carrying over 100 tonnes of cargo, a statement from the airline operator stated.
The converted Emirates Boeing 777-300ERSF offers 100 tonnes of payload capacity and 811 m³ of cargo volume, representing a 25 per cent increase in cargo volume over the Boeing 777-F production freighter.
At 47 pallet positions, the converted aircraft also accommodates 10 additional pallet positions when compared with the Boeing 777-F production freighter, making it ideal for transporting volumetric cargo such as e-commerce goods, which currently constitute around 20 per cent of global air cargo tonnage with further growth projected in the next few years.
The converted Boeing 777-300ERSF is the sixth new freighter, following five Boeing 777-F production freighters, to join Emirates SkyCargo’s fleet since March 2026.
As part of its ambitious expansion strategy, Emirates SkyCargo will also be taking delivery of five additional Boeing 777-F aircraft as well as one additional converted Boeing 777-300ERSF by December 2026.
Emirates SkyCargo will also be introducing three additional converted Boeing 777-ERSFs into its fleet in 2027.
“The induction of the first converted Emirates Boeing 777-300ERSF into operational service represents the next step in the expansion of our fleet and operational agility.
“We are optimising our fleet assets by converting older Boeing 777-300ER passenger aircraft to meet the growing demand for air cargo capacity to transport goods rapidly across the world,” Emirates SkyCargo’s Divisional Senior Vice President, Badr Abbas, commented.
“Combined with our growing fleet of Boeing 777-F production freighters, we have already been able to scale our global freighter network from just over 40 destinations in February this year to 62 destinations currently and growing.
“We are providing our global customers with scalable cargo capacity and ultimate flexibility and connectivity when moving cargo to and through our hub in Dubai,” Abbas added.
