Nigerian Aviation Handling Company independent non-executive director Akinwumi Godson Fanimokun has sold 2.41 million shares in the aviation services company in transactions valued at approximately N491.2 million, according to a regulatory filing submitted to the Nigerian Exchange.
The transactions, executed between May 18 and May 22, 2026, were priced at an average of N203.50 per share. The disposal came amid a sharp rally in NAHCO’s stock, which has climbed roughly 115% year-to-date, making it one of the standout performers on the Nigerian equities market in 2026.
The share sale reduced Fanimokun’s direct stake in the company from 0.36% to 0.21%, reflecting partial profit-taking after the company’s sustained market gains. Investor appetite for NAHCO shares has strengthened in recent quarters following a combination of earnings growth, operational expansion, and rising confidence in Nigeria’s aviation recovery.
The timing of the transaction is notable because it occurred shortly before the commencement of the company’s employee share purchase plan, a programme designed to broaden internal ownership and align staff interests with shareholder returns.
NAHCO has emerged as one of the strongest-performing companies within Nigeria’s aviation support services sector after delivering record financial results in 2025. The company reported a 40% increase in profit after tax to N18 billion for the full year, supported by higher cargo volumes, increased passenger traffic, and stronger contract execution across its airport handling operations.
Momentum has continued into 2026. In its first-quarter earnings, the ground-handling operator posted a pre-tax profit of N6.1 billion, underscoring continued operational efficiency and robust demand from both domestic and international airline customers.
The company has also expanded its commercial footprint through new service agreements with carriers including Fly Gabon, Saudi Airlines, and Qatar Airways. Analysts say the contracts could strengthen recurring revenue streams while reinforcing NAHCO’s position as a dominant player in West Africa’s aviation handling market.
Market participants are likely to interpret the insider transaction cautiously but not necessarily negatively, given the scale of the company’s recent appreciation. Corporate insiders often monetise portions of their holdings following substantial rallies, particularly when liquidity and valuation conditions are favourable.
Still, investors will closely monitor future insider activity and the sustainability of NAHCO’s earnings trajectory as Nigeria’s aviation sector continues its post-pandemic recovery amid currency volatility, inflationary pressures, and rising operating costs.
With aviation traffic improving and international partnerships expanding, analysts expect NAHCO to remain firmly in focus among institutional and retail investors seeking exposure to Nigeria’s transport and infrastructure growth story.
