NAHCO Tax Payments Hit N1.38 Billion in Q3 Report

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Amazin Zion

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Mar 1, 2023
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Nigerian Aviation Handling Company (NAHCO) has seen improvements in its tax payments for the first nine months of 2023, also known as Q3 2023.

According to the firm's financial statements, NAHCO tax payments rose by 125% to N1.4 billion in the first nine months of 2023, which is far different from the corresponding year, which settled at N622.95 in 2022.

An overview of the total tax payments reveals that tax generated the highest revenue with N1.38 billion, followed by prior year under-provision (N11.3 million). NASENI fund expenses were recorded at N8.14 million, and education tax was N3.35 million.

NAHCO Q3 Report in Details​

NAHCO revenue rose to N18.5 billion in the first nine months from N11.2 billion in the same period last year.

NAHCO’s other income increased to N277.52 million from N241.3 million.

NAHCO rental income from investment property declined to N152.21 million from N156.26 million.

NAHCO realized foreign exchange gain amounted to N78.5 million from a loss of N49.4 million.

NAHCO's sundry income dipped to N22.3 million from N123.7 million.

NAHCO's income from training services increased to N3.73 million from N1.48 million.

NAHCO's profit after tax rose to N4.96 billion from N2.11 billion.

NAHCO’s administrative costs increased to N3.41 billion from N2.43 billion.

Read more: https://www.investingport.com/nahco-tax-payments-hit-n138-billion-in-q3-report/