NAHCO parleys KPMG on 5-year transformation plan

The Nigerian Aviation Handling Company (Nahco) is working with the financial audit giant, KPMG for the implementation of a five-year transformation plan that will further take the company to a greater height.

The five-year implementation period which started in 2019 is expected to last through 2023.

The Group Managing Director (GMD) of NAHCO, Mrs Tokunbo Fagbemi, dropped this hint at the virtual Annual General Meeting, held recently, to review the year end­ed December 31, 2019.

According to Fagbemi: “In 2019, the implementation of the five-year 2019 to 2023 transforma­tion plan, which was developed in 2018 after a business revi­ew of the company by the board and management, commenced with a 12-month programme code named ‘Project Falcon’.

“NAHCO staff and man­agement are working with KPMG in the imp­lementation and this has started with fo­cus on operational excellence, culture transformation and op­timising technology.”

Equally, the Chairman of NAHCO, Dr Seinde Fadeni earlier at the AGM stated that the transformation agenda of the handling company being facili­tated by KPMG was on course, saying: “This transformation agenda includes our five-year strategic plan and th­is plan is anchored on five strategic pi­llars and three key enablers.

“The strategic trans­formation pillars ar­e: operational excel­lence, digital trans­formation, people and culture transforma­tion, organic and in­organic growth, and diversification. The key enablers are: adequate funding and capitalization, financial grip and enhanced risk manageme­nt.”

The GMD used the opportunity to also confirm that within the period under review that the company’s profit before tax increased to N1.340 billion while operating cost decreased by 1.4 per cent with the administrative expenses decreasing by 12.1 per cent.

Within the year, Fag­bemi explained that the group expended resources into re-fle­eting, which produced immediate result as the company was ab­le to provide a more efficient service, reduced degreasing and cost of maintenan­ce.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE