Nigeria’s export sector is set to receive a major boost as the Nigerian Aviation Handling Company (NAHCO) Plc announced a N1 billion investment in an export processing center in Lagos. The center, which is expected to be operational by the second quarter of 2024, will provide a one-stop shop for exporters to process, package, and transport their products to various destinations.
According to the group managing director of NAHCO, Indranil Gupta, the company plans to replicate the same facility in its Kano, Abuja, Port Harcourt, and Enugu stations if the Lagos center yields the expected results. He said the center would also enhance the standardization of the export processing system and ensure compliance with international best practices.
Gupta disclosed that the company also plans to revive business activities in Kano, which used to be a major hub for export in the past. “We want to take Kano back to its original glory. With the export processing centers, we want to reach out to farmers and the middlemen who are supplying and buying the products,” he said.
He added that NAHCO is completely focused on export, adding that the processing center would also create employment opportunities and generate foreign exchange for the country. “The idea is that Nigerian products will be in one shop where they will be well sorted, arranged, and packaged before being transported. We plan to put forward some ideas on improving exportation before the Aviacargo committee,” he said.
Aviacargo is a committee set up by the federal government to address the challenges and opportunities in the aviation and cargo sector. The committee, which comprises representatives from the public and private sectors, is expected to submit its report by the end of March 2024.
Gupta said NAHCO is optimistic about the prospects of the export sector, especially with the implementation of the African Continental Free Trade Area (AfCFTA) agreement, which aims to create a single market for goods and services across the continent. “I know that Nigeria can be the food basket of the continent if the producers and farmers avail themselves of the potential of the continent. It is much more profitable to export than to import because it comes with foreign exchange,” he said.
He also revealed that NAHCO is diversifying its revenue streams by expanding its services to other sectors such as oil and gas, e-commerce, and pharmaceuticals. He said the company is investing in new technologies and equipment to improve its efficiency and quality of service.
Gupta, who expressed optimism for 2024, said, “I hope the purchasing power will improve; that will help in our input volumes, and that will also attract more airlines into Nigeria. The total number of air travelers is between 19 and 20 million. Nigeria is not a poor country, but we look forward to more entrepreneurs, so all these can help us get more Nigerians to fly.”
He said NAHCO is committed to supporting the growth and development of the aviation industry and the Nigerian economy at large. He said the company is also giving back to society through its corporate social responsibility initiatives, such as providing scholarships, health care, and environmental protection.
Source: Business Day
