Victor Abimbola Olaiya’s NAHCO stake surges to $23 million

Nigerian cleric and oil industry veteran Victor Abimbola Olaiya has seen his wealth surge this year, with the value of his stake in Nigerian Aviation Handling Company Plc (NAHCO) climbing by $10.1 million in 2026 to $23.39 million, fueled by a sharp rally in the Lagos-based aviation handling firm’s shares on the Nigerian Exchange (NGX). This underscores the growing market value of his combined direct and indirect holdings.

Olaiya’s growing wealth
As a veteran of Nigeria’s oil and gas sector, Abimbola Olaiya has built a distinguished career spanning over three decades with Mobil Producing Nigeria and ExxonMobil. His stake in NAHCO, comprising a direct 0.06% holding of 1,170,142 shares and an indirect 8.65% via White Cowry (168,643,862 shares), is valued at N32.04 billion ($23.03 million), reflecting his long-standing influence in Nigeria’s energy and logistics industries.

The surge reflects growing investor confidence in NAHCO, with the company’s shares climbing more than 75% on the local bourse since the start of the year.

NAHCO’s market surge
Founded in 1979, NAHCO Plc has grown into a leading aviation services and logistics company in Nigeria. It provides ground handling, cargo and passenger services, aviation training, and equipment leasing, cementing its role as a key player in the country’s air transport sector.

Nigerian Aviation Handling posted a profit of N17.5 billion ($12.69 million for the fiscal year 2025, marking a 36.02% year-on-year increase, driven by improved operational efficiency, higher cargo and passenger traffic, and strategic cost management across its airport services and logistics divisions.

Dividend hike signals strong performance
The board proposed a dividend of N6.25 per ordinary share, totaling N12.18 billion ($8.84 million), pending shareholder approval at the upcoming Annual General Meeting. This represents a 5.22% increase from last year’s N5.94 per share, which amounted to N11.58 billion ($8.4 million). Victor Olaiya is set to receive N1.06 billion ($769,803) from the proposed payout.

In addition, the directors recommended a bonus issue of one ordinary share for every seven shares held, increasing the company’s fully paid-up share capital by N139.22 million ($100,973).

So far in 2026, NAHCO’s stock has surged 75.88%, rising from N108 ($0.07) on Jan. 1 to N189.95 ($0.13). This rally has pushed the company’s market capitalization to N370 billion ($268.34 million), delivering strong returns for investors.

Olaiya’s stake saw more than $10 million increase this year
NAHCO’s stock has surged by 75.88% this year, boosting the value of Abimbola Olaiya’s stake. His holdings have increased by N13.92 billion ($10.09 million) since the start of the year, rising from N18.34 billion ($13.3 million) at the start of the year to N32.26 billion ($23.39 million).

The surge in NAHCO’s share price highlights both the company’s operational resilience and investor confidence in Nigeria’s aviation and logistics sector, reflecting its strategic role in cargo handling, ground services, and airport logistics.

Victor Abimbola Olaiya’s NAHCO stake growth highlights the intersection of Nigeria’s aviation and energy sectors. Investor confidence, operational efficiency, and strategic governance continue to drive market value for key Nigerian equities.