Travel/Tourism
H1’20: NAHCO Suffers N143.2m Loss on Rising Selling, Admin Costs
By Dipo Olowookere
One of the main aircraft, cargo and passenger handling companies at the nation’s airports, the Nigerian Aviation Handling Company (NAHCO) Plc, suffered a N143.2 million loss in the first half of 2020.
This was against the net profit of N467.3 million the firm declared in the corresponding period of last year.
This loss was mainly impacted by the COVID-19 pandemic, which wrecked the aviation industry worldwide especially in the second quarter of the year.
Business Post observed that NAHCO recorded a loss in the period under review despite receiving a tax credit of N36.8 million.
In the period, it had a loss before tax of N180.0 million versus the profit before tax of N580.0 million in the first six months of 2019, while its earnings per share (EPS) closed at -9 kobo in contrast to 28 kobo in H1’19.
A look at the top line of the financial statements for the period ended June 30, 2020, showed that the revenue generated declined to N3.6 billion from N4.8 billion due to a decline in the passenger/aircraft handling to N1.4 billion from N2.6 billion and reduction in the leasing to N78.9 million from N123.8 million.
However, there was an improvement in the revenue generated from cargo handling to N2.0 billion from N1.9 billion.
According to the results, the operating costs were pruned to N2.7 billion from N3.2 billion majorly from payroll costs, concession, diesel, electricity and spares as well as licence renewal and at the close of business on June 30, 2020, the company’s gross profit went down to N931.9 million from N1.6 billion.
With an almost flat other income of N105.9 million and higher selling and administrative expenses of N1.3 billion versus N1.1 billion in H1 2019, NAHCO was left with a loss from operations of N282.8 million in contrast to a profit of N591.7 million a year earlier.
The increase in the selling and administrative costs was caused by the higher directors’ remuneration, laundry & cleaning, repair & maintenance, board expenses, entertainment, medical costs, audit fee, depreciation/amortization and others.
Furthermore, the company said it grew its finance income to N146.7 million from N86.5 million, while the finance costs dropped to N43.8 million from N73.6 million.
On its balance sheet, the total assets reduced to N14.6 billion from N14.7 billion in FY 2019, while the total liabilities were flat year-to-date at N8.1 billion.
In the period under review, the loans and borrowings reduced year-to-date to N229.7 million from N440.1 million, while the retained earnings dropped to N3.9 billion from N4.0 billion in FY’19.
Travel/Tourism
Emirates Showers Dubai Passengers With Exclusive Offers
By Modupe Gbadeyanka
Emirates passengers travelling to or through Dubai will enjoy some exclusive offers, including complimentary stays at the iconic JW Marriott Marquis and hundreds of discounts through the popular My Emirates Pass, the airline operator has said.
In a statement, the company stated that from June 22 to July 12, 2026, travellers who purchase an Emirates return ticket in First Class or Business Class are invited to enjoy a two-night stay, while customers booked in Premium Economy Class or Economy Class can enjoy a complimentary one-night stay.
It was disclosed that this special offer is valid for all return tickets to or stopping over in Dubai for more than 24 hours, for customers travelling between June 25 and September 30, 2026.
In addition, passengers can enjoy over 600 offers available in the popular My Emirates Pass, which provides access to spas, restaurants, big-name retailers and much more by simply showing either a physical or digital boarding pass along with a valid ID at participating venues to enjoy the benefits.
These exclusive offers are being offered by Emirates through its Dubai Summer Surprises, which enters its 28th year in 2026.
Further, from July 2 to August 30, residents and visitors can expect an extraordinary live Beat the Heat DXB concert series, cultural events and an array of wellness and fitness activities, as well as big savings and exclusive, limited-time experiences in the city’s malls and lifestyle destinations.
“Whether visitors are seeking relaxation, adventure, entertainment, or a combination of all three, Dubai is the ideal start to any summer vacation.
“We’re inviting passengers to enjoy even more of the city with a complimentary hotel stay to take advantage of the exceptional range of shopping, entertainment, dining and family-friendly experiences that define the Dubai summer experience, when stopping over as part of your journey or visiting Dubai as your final destination,” the Deputy President and Chief Commercial Officer of Emirates, Mr Adnan Kazim, said.
Travel/Tourism
Akida Hills to Transform Jabi Lake Waterfront to Tourism Destination
By Modupe Gbadeyanka
The popular Jabi Lake waterfront in Abuja is set to become a major leisure and tourism hub in the country, thanks to Akida Hills, which is making efforts to enable visitors to enjoy the transformation from December 2026.
The Nigerian mixed-use real estate and destination development company has been allocated a 3.36-hectare development site within the approximately 14-hectare waterfront district, where it will deliver a phased mix of recreational, entertainment, and public leisure experiences.
According to the deal, the first phase of the development will introduce the destination’s first operational attractions, including dining and leisure experiences, water-based activities, structured weekly programming, a seasonal lights festival, and the dancing musical fountain as its signature attraction.
Additional experiences and amenities will be introduced in subsequent phases as the destination evolves.
Designed as a central landmark within the waterfront experience, the dancing musical fountain will combine choreographed water displays, synchronised lighting, and music to create a distinctive evening attraction and focal point for visitor engagement.
Upon completion, the development is expected to serve as a major hub for tourism, recreation, entertainment, and community engagement, further strengthening Abuja’s position as a leading leisure and lifestyle destination.
Construction and implementation activities will progress in phases, with additional announcements on attractions, programming, and commercial partnerships expected ahead of the December 2026 launch.
“Jabi Lake represents one of the most significant opportunities to create a world-class waterfront destination in Africa.
“Through this development, we aim to deliver experiences that attract residents, visitors, and tourists year-round while contributing to economic growth, job creation, and Nigeria’s tourism appeal.
“Our vision is to establish Jabi as a defining waterfront destination for the continent – one that demonstrates the transformative power of destination-led development and reimagines how people experience a city,” the founder of Akida Hills, Mr Kayode Bamisile, said.
Travel/Tourism
FAAN Mulls New October Deadline for Airport Taxi Upgrade Policy
By Adedapo Adesanya
The Federal Airports Authority of Nigeria (FAAN) is considering extending the deadline for its airport taxi upgrade policy to October, following concerns raised by the Nigeria Union of Private Cab Operators.
The development was disclosed on Monday in Lagos by Mr Henry Agbebire, Director of Public Affairs and Consumer Protection at FAAN, saying that the possible extension followed complaints and concerns from airport cab operators, even as the authority maintained that the policy was designed to improve service standards across Nigerian airports.
“The policy aligns with international best practices and seeks to elevate service quality,” Mr Agbebire said.
He added that passengers deserved “clean, safe, comfortable and professionally maintained vehicles” within airport transport systems.
The FAAN spokesman dismissed claims that the authority had failed to engage operators on the policy, insisting that consultations had been ongoing.
He said FAAN maintained regular discussions with licensed transport providers operating within airport premises, stressing that engagement was conducted directly with corporate entities rather than unions or associations.
“Engagements on operational matters are conducted directly with affected corporate entities,” he said.
Mr Agbebire explained that discussions on the upgrade requirement began in July 2024, giving operators time to comply.
He noted that the original compliance deadline had already been extended twice—from January 2026 to June 2026—citing economic realities and the need to give operators adequate preparation time.
According to him, the policy was not intended to punish operators or restrict their participation in airport transport services.
“Operators have been afforded ample opportunity to prepare for compliance,” he stated.
However, he warned that further extensions beyond the proposed October deadline may not be granted.
Mr Agbebire acknowledged the role of airport cab operators in passenger movement, urging them to support the initiative aimed at improving service delivery.
He added that FAAN remains committed to passenger-focused reforms across Nigeria’s aviation sector.
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