BY NKECHI BAECHE-ESEZOBOR—Consolidated Hallmark Holdings Plc, has reported a robust 47 per cent growth in insurance revenue for the 2025 financial year, alongside a record-breaking dividend payout, despite navigating severe capital market volatility that impacted its bottom line.
Speaking at the group’s 3rd Annual General Meeting (AGM) in Lagos, Group Chairman Shuaibu Idris disclosed that insurance revenue surged to N43.27 billion in 2025, up from N29.42 billion in the previous fiscal year.
The net insurance service result—reflecting performance after meeting claims, reinsurance obligations, and direct costs—rose sharply by 121 per cent to N6.85 billion, up from N3.10 billion in 2024.
Additionally, non-insurance operations picked up significant momentum, with operating and other non-insurance income jumping 61 per cent from N4.09 billion to N6.59 billion.
The group’s Profit Before Tax (PBT) declined to N8.44 billion from N22.65 billion in 2024. He attributed this drop entirely to a sharp decline in the mark-to-market valuation of the group’s capital market investments.
Cash and cash equivalents nearly doubled, climbing 96 per cent to N7.38 billion while financial assets grew 65 per cent to N45.90 billion.
Total assets expanded by 33 per cent to N75.94 billion, while shareholders’ funds marked a 21 per cent growth.
He noted that the fundamentals of the investment remained strong and hold better prospects for the future,” Idris stated, noting that consistency and diversity served as the group’s strength in a volatile year.
The group’s balance sheet remained highly liquid and well-capitalized:
Following its outstanding performance the board proposed a final dividend of 15 kobo per share. When combined with the 10 kobo interim dividend already distributed, CHH’s total dividend for the year stands at 25 kobo per share.
“This is the highest dividend that we have ever paid,” Idris told shareholders, expressing optimism about maintaining the growth trajectory.
Also, the Group Chief Executive Officer, Mr. Eddie Efekoha, who’s responding to shareholders questions, confirmed that the financial holding structure is perfectly insulated from recapitalization pressures.
“Our Group does not require additional capital to meet the new regulatory thresholds. We are not compelled to seek mergers or external funding, as our capital base remains strong and sufficient,” Efekoha asserted.
Efekoha noted that businesses and individuals are increasingly turning to dependable financial protection amid macro-economic uncertainties, and added that it achieved its resilience through disciplined underwriting, cost optimization, and rigorous operational processes across its subsidiaries.
Baze University, Abuja, has acquired two training aircraft from Austria as it expands its investment in aviation education.
The aircraft arrived at the Nnamdi Azikiwe International Airport, Abuja, on Friday and received a traditional water cannon salute, according to reports by Nigerian media.
The university’s founding Pro-Chancellor, Datti Baba-Ahmed, disclosed the acquisition, saying it would strengthen Nigeria’s aviation training capacity and support the development of skilled professionals.
Baze University acquires two aircraft as Baba-Ahmed expands aviation investment
The Vice-Chancellor, Abiodun Adeniyi, a professor, also described the development as part of a broader entrepreneurial vision to build institutions that contribute to national development.
The acquisition represents another expansion of Baze University, which has invested in higher education and healthcare before venturing into aviation training.
In a reflection shared on Facebook on Saturday, Mr Adeniyi described the development as an example of entrepreneurship driven by vision, patience, hard work and calculated risk-taking.
He said the acquisition illustrated how businesses could grow through personal investment, borrowing, reinvestment and diversification, rather than waiting until they had accumulated all the capital needed for expansion.
“Successful entrepreneurs do not necessarily wait to become debt-free before expanding. They distinguish productive borrowing from reckless indebtedness, deploying resources into assets that create lasting economic value,” he wrote.
Mr Adeniyi said the investment went beyond private wealth creation, arguing that businesses established around education, healthcare and aviation could contribute to national development by creating jobs, building local capacity and developing human capital.
He described such investments as an expression of economic patriotism, where entrepreneurship also responds to national needs.
Expanding into aviation
The two aircraft are expected to support practical flight training at Baze Aviation School, which is being developed in Bwari, Federal Capital Territory.
The school is part of the university’s plans to combine classroom instruction with practical aviation training. Its proposed facilities include a dedicated runway, hangar, terminal building, laboratories and simulation centres.
The Coordinator of the Aviation School, Aliyu Bello, said the aircraft would enable students to gain hands-on experience alongside ground-school instruction.
Mr Baba-Ahmed said the institution planned to train at least 600 professionals in areas including air traffic control, air rescue and firefighting, subject to approval by relevant regulatory authorities.
He also disclosed plans for an aerodrome hub with a runway measuring 1,800 metres by 30 metres, with an additional 15 metres.
The National Universities Commission has approved two undergraduate programmes at the university for the 2026/2027 academic session: Aviation Management under the Faculty of Management and Social Sciences and Aerospace Engineering under the Faculty of Engineering.
Mr Adeniyi said the university would become the first private university in Africa to operate its own aviation school.
Entrepreneurship and national development
Mr Adeniyi’s remarks place the aircraft acquisition within a broader debate about the role of private investment in addressing Nigeria’s development challenges.
Nigeria’s aviation industry requires specialised human resources across several fields, including pilots, aircraft maintenance engineers, air traffic controllers and other technical professionals. Training institutions that combine academic instruction with practical facilities could help expand the pool of skilled workers available to the sector.
However, aviation training is capital-intensive and requires substantial investment in aircraft, infrastructure, maintenance, safety systems and regulatory compliance.
Mr Adeniyi said the development demonstrated the importance of sustaining a vision through years of uncertainty and making investments that could generate long-term economic value.
He traced Mr Baba-Ahmed’s expansion from Baze University, established largely with personal resources and subsequently supported by bank financing, to investments in healthcare through Baze Hospital, higher education through Baba-Ahmed University in Kano and now aviation training.
The professor argued that investments in such sectors could help reduce dependence on foreign expertise while creating opportunities for Nigerians to acquire technical skills and participate in productive enterprises.
He said the benefits of entrepreneurship should not be measured only by wealth accumulated by investors but also by the institutions created, jobs generated and national needs addressed.
“Perhaps the lesson is that great enterprises are built not simply with money, but through vision, sacrifice, perseverance and the capacity to transform ambition into productive institutions,” Mr Adeniyi wrote.
He added that when private enterprise responds to national development priorities, it takes on significance beyond commercial success.
The vice-chancellor congratulated Mr Baba-Ahmed on the acquisition, describing it as another expression of a sustained investment philosophy whose benefits could extend beyond the investor.
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