Connect with us

Business

SAHCO seeks FG incentives as asset base rises

Published

on

Skyway Aviation Handling Company Plc has appealed to the Federal Government to provide policy support and fiscal incentives for the acquisition of aviation Ground Support Equipment.

While making the appeal, the company also reported a significant expansion of its asset base to N57.1bn in 2025. Managing Director, Mrs Adenike Aboderin, said this while briefing aviation journalists at the company’s headquarters at the Murtala Muhammed Airport, Lagos, on Monday.

The call for incentives came as Aboderin announced a major financial upswing after it generated N31.7bn in revenue within the first nine months of the year. The N31.7bn figure represents a 58 per cent increase over the N20.1bn posted in the same period of 2024.

The SAHCO boss described the performance as “highly commendable” given the industry’s severe macroeconomic challenges, including inflation, unstable foreign exchange, rising utility charges, and the escalating cost of imported aviation equipment and spare parts.

She said, “You all know what we’re facing in the aviation industry. Overheads are going higher, inflation, foreign exchange, cost of utilities, and most of our equipment, spare parts, most of which are foreign-based. So that has brought a lot of headwinds and impractical outcomes for us.”

Despite the economic pressures, Aboderin said SAHCO continued to deliver value to shareholders, airlines, and stakeholders across more than 22 airport locations nationwide. A breakdown of the results shows that gross profit rose 47 per cent to N18bn from N12bn last year, while profit before tax surged 82 per cent to N10bn compared with N5.5bn in 2024.

See also  Nigerians To Experience Blackout As PENGASSAN’s Strike Cripples Thermal Plants

SAHCO’s total assets also increased from N40bn to N57.1bn, representing 31 per cent growth driven largely by investments in GSE acquisitions, infrastructure upgrades, and technology renewal.

“Through efficiency, discipline, and strategic investments, we have strengthened our financial resilience. Our focus remains operational excellence, digital transformation, and sustainability,” she stated.

Aboderin further highlighted the company’s technology-driven reforms over the past year, noting the introduction of e-billing, an in-house flight operations app, a digital budgeting tool, document management software, and enhanced cybersecurity.

These initiatives, she said, collectively enabled a 27 per cent reduction in year-on-year costs. Emphasising SAHCO’s green transition, Aboderin disclosed ongoing efforts to replace ageing equipment with electric, eco-friendly alternatives.

She said the company now operates the largest number of electric-GSE charging points in Nigerian airports and is installing solar-powered charging stations as part of its sustainability plan through 2028.

On export growth, Aboderin noted improvements in cargo handling infrastructure, including expanded drop-off lanes, upgraded TSA-compliant screening machines, enhanced export processing tunnels, and improved cold chain storage in Lagos and Abuja.

“A new cold room would be installed in Abuja in the first quarter of 2025. SAHCO’s cold chain facilities now support regional transit of temperature-sensitive goods from neighbouring West African countries,” she added.

Among the clients gained in the last nine months are Air Tanzania, Air Algérie, Ethiopian Airlines (Abuja), ValueJet, and United Nigeria Airlines’ regional operations. SAHCO has also commenced services at Bayelsa Airport and Ogun State’s Gateway Agro-Cargo Airport.

Looking ahead, Aboderin said the company expects sustained growth in 2025 as it deepens investments in technology, people, and regional expansion. Beyond ground handling, she said SAHCO is diversifying into e-commerce logistics, helicopter services under its subsidiary SIPA SACOL Aviation, ticketing through SS Travels, and an expanded aviation training academy.

See also  Port Harcourt Customs Record N247bn Revenue In 10 Months

She added: “We have delivered strong growth — 82 per cent profit increase, 57 per cent revenue growth and a N13bn rise in assets. If we continue on this path, supported by our partners and our people, the future remains bright.”

punch.ng

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

TUMBLR

INSTAGRAM

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Agricultural quarantine service postpones release of recruitment shortlist

Published

on

The Nigeria Agricultural Quarantine Service has postponed the publication of shortlisted candidates for its ongoing recruitment exercise, which was initially scheduled for Thursday, August 13.

NAQS said the decision was made to ensure a thorough, transparent and accurate recruitment process.

The agency announced the postponement in a public notice signed by the Director of Human Resources, ACG Issaka Ahmed, and posted on its X handle on Friday.

“In order to ensure a thorough, transparent and accurate process, we are unable to release the list of shortlisted candidates as scheduled,” the notice stated.

The agency apologised for the delay and urged applicants and members of the public to remain patient while awaiting a new date.

“We sincerely regret any inconvenience or uncertainty this delay may have caused and appreciate the patience, understanding and continued interest of all applicants.

“All applicants and the general public are hereby notified that a new date will be communicated in due course through our official communication channels,” it said.

The agency advised applicants to rely only on information released through its official channels.

The recruitment exercise, which opened on July 28 and closed on August 10, attracted 606,928 attempted applications, while 407,659 were successfully submitted, according to statistics released by NAQS on Wednesday.

The agency said 199,269 applications were incomplete at the close of the application period.

The Assistant Superintendent of Quarantine II cadre, requiring HND or bachelor’s degree, recorded the highest number of applications with 290,076, followed by Quarantine Assistant II with 117,177 applications.

Other cadres included the NCE category with 79,685 applications, OND with 70,170, and the Superintendent cadre requiring a master’s degree with 13,183 applications.

See also  Elon Musk could be the world’s first trillionaire in weeks

PUNCH Online reports that NAQS said it will conduct a computer-based test and interviews on August 15, after shortlisted candidates are released on August 13.

However, candidates will now await new dates.

The recruitment exercise covers the Superintendent, Inspectorate and Assistant cadres.

Source: punchng.com

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Continue Reading

Business

Customs dismiss smuggling, revenue leakage allegations

Published

on

The Nigeria Customs Service has dismissed allegations of increased smuggling, revenue leakage, recruitment impropriety and manipulation of succession within the service, describing them as a misrepresentation of its operations and administrative processes.

The service’s National Public Relations Officer, Deputy Comptroller Abdullahi Maiwada, stated this in a response released on Thursday to an investigative report published by a media outlet (not PUNCH) on August 7, 2026.

The report had alleged intensified smuggling along the Seme, Idiroko, Ilaro, Ipokia and Igbeti-Kishi corridors, as well as manipulation of the 846 valuation code at the Apapa, Tin Can Island and PTML Area Commands.

Maiwada said the claim of a surge in smuggling was inconsistent with the service’s enforcement activities, pointing to regular seizures recorded along the affected corridors.

“Our responsibility is to reduce smuggling to the barest minimum, not to claim that it can be completely eradicated,” he said.

On the 846 valuation code, the NCS explained that it was a digital tool designed for vehicles with non-standard or non-compliant Vehicle Identification Numbers, including specialised heavy equipment, classic vehicles and customised models.

“The 846 code is an established digital valuation code within the Customs portal, specifically designated for vehicles with non-standard or non-compliant Vehicle Identification Numbers,” Maiwada said.

He added that standard vehicles were assessed automatically through manufacturer-linked databases, while 846 applications were subjected to secondary approval by valuation officers and Area Controllers.

Maiwada said discrepancies discovered through post-clearance audits could lead to Demand Notices for the recovery of short-collected duties and sanctions against offending operators, adding that revenue collections at major ports had reached historic levels under the digital framework.

On the recruitment of Assistant Superintendents of Customs II, the Service said the exercise was conducted under the authorisation of the Nigeria Customs Service Board and in line with the NCS Act 2023 and Federal Character Commission guidelines.

See also  Dangote Cement begins Ivory Coast operations

It said successful candidates were issued provisional offers subject to medical verification, background checks and formal acceptance.

The Service also rejected allegations of succession manipulation and favouritism among officers, saying promotions were determined by seniority, merit, promotion examinations and available vacancies in accordance with established regulations.

“Succession and promotion within the Service are governed by established rules and career progression structures, not personal preference,” the Service said.

Maiwada said leadership training for Deputy Comptrollers was part of the Service’s human capital development strategy, aimed at strengthening trade operations, intelligence management and executive leadership.

He explained that approved training programmes and international exposures were funded through budgetary allocations or formal technical assistance arrangements with partner institutions.

Responding to calls for independent investigations, the NCS said it remained subject to oversight by the Federal Ministry of Finance, National Assembly, Office of the Auditor-General for the Federation and anti-corruption agencies.

“The management maintains a firm, intolerant posture toward corruption, revenue leakage or administrative misconduct,” the Service stated.

It added that any officer or stakeholder found culpable would face disciplinary action and prosecution in accordance with the law, while assuring Nigerians that the Service would cooperate with any legitimate investigation by statutory authorities.

Source: punchng.com

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Continue Reading

Business

Patience Jonathan revealed she mentored Azikel refinery boss Eruani from ‘small boy’ to big businessman

Published

on

Ex-President Goodluck Jonathan’s wife, Patience, has described the Group President of Azikel Group, Dr Azibapu Eruani, as a “small boy” she raised and mentored into the league of Nigeria’s biggest businessmen.

She said her guidance was behind his bold entry into big business at a relatively young age.

The former First Lady spoke on Tuesday in a video which went viral on Thursday during an inspection tour of the Azikel Refinery in Obunagha, Bayelsa State, alongside other dignitaries.

She said she personally introduced Eruani to billionaire businessmen, Aliko Dangote and Aminu Dantata, and pushed him to aspire to their level despite being the youngest among them.

“He’s a boy that I brought up. We are always together. Although he’s the little one among us when we are friends — Dangote, Seyi, Dantata, Eruani — among us, he’s the smallest. But I made sure he followed the Dangotes, he followed Dantata.

“Because I’m a woman in their midst, I made sure I told this small boy, ‘Go and follow them, and stop the grammar.’ But when he told me that one day he would be like Dangote, I said, ‘You’re thinking too high.’ I prayed to God to grant him his heart’s desire,” she said.

Group President of Azikel Group, Dr Azibapu Eruani

The former First Lady also recalled how the immediate past APC administration under Muhammadu Buhari initially failed to grant Eruani a refinery licence before eventually approving three.

“During the Buhari administration, he and others came to me and told me they were going to apply for a refinery. I told him, ‘Eruani, your brother, the President, did not give you a refinery.

See also  Nigeria secures $18.2bn oil investments, 28 field plans

“Is it the APC government that will give you one?’ I prayed it would happen. But later, they came back and told me they had been given three refineries,” she said.

The inspection coincided with the arrival of the refinery’s Crude Distillation Unit, a major milestone in the development of the $1bn facility.

The 25,000 barrels-per-day plant is a private hydro-skimming refinery designed to process condensate into petrol, diesel, aviation fuel, kerosene and other products.

It is set to become Nigeria’s second-largest full-slate refinery and the first major privately owned refinery in the Niger Delta.

The Managing Director/Chief Executive Officer of the Niger Delta Development Commission, Samuel Ogbuku, who joined the inspection tour, commended Eruani for his perseverance, noting that he had attended the project’s groundbreaking ceremony eight years ago.

Ogbuku described the refinery as an inspiration and a potential catalyst for investment, job creation and economic growth in Bayelsa State, and urged residents, particularly youths, to key into the opportunities it would create.

 

 

He also praised the Bayelsa State Government for improving road infrastructure leading to the refinery site and called for continued support for the project.

Governor Douye Diri, who was represented at the inspection by his deputy, Peter Akpe, has consistently backed the project, which is expected to employ hundreds of workers and drive industrialisation in the state.

Other dignitaries at the event included the Chairman of the Bayelsa State Council of Traditional Rulers, King Bubaraye Dakolo; Vice President of Azikel Group, Presley Asemota; and Isaac Yalah, among others.

See also  Petrol May Hit ₦900/Litre This Week As OPEC+ Makes Fresh Plan On Production Hike

Source: punchng.com

FOLLOW US ON:

FACEBOOK

TWITTER

PINTEREST

TIKTOK

YOUTUBE

LINKEDIN

INSTAGRAM

Continue Reading

Trending