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Skyway Aviation Reports Robust Profit Growth, Revenue Up 54% in 2025

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Skyway Aviation Handling Company Plc delivered a robust financial performance for the year ended December 31, 2025, with profit after tax more than doubling to N11.73 billion, underscoring strong operational momentum and improved efficiency across its business lines.

The company’s audited results show revenue rose significantly by 54 per cent to N44.46 billion in 2025, up from N28.94 billion recorded in 2024. The growth was driven largely by increased demand for passenger and cargo handling services, alongside improved contributions from ancillary and Value Chain operations.

Costs of sales also climbed during the period, rising to N18.98 billion from N12.56 billion in the prior year. However, the increase was outpaced by revenue growth, resulting in gross profit expanding to N25.48 billion from N16.38 billion in 2024.

Operating performance remained strong, with profit from Operations nearly doubling to N14.62 billion compared with N6.53 billion recorded a year earlier. This was achieved despite higher administrative expenses, which rose to N11.24 billion from N10.05 billion, reflecting inflationary pressures, increase in utility and increased personnel costs.

After accounting for a tax expense of N2.55 billion, profit after tax stood at N11.73 billion, representing a 142 per cent increase from N4.83 billion in the previous year.

Total comprehensive income for the year came in at N11.42 billion, compared with N6.89 billion in 2024, reflecting a foreign exchange loss of N314.5 million during the period, in contrast to a gain recorded in the prior year.

The company’s balance sheet remained solid, with total assets increasing to N56.58 billion as at December 31, 2025, from N41.78 billion in 2024. The growth was largely driven by a significant rise in property, plant and equipment, which climbed to N24.61 billion from N16.03 billion, indicating continued investment in operational capacity.

Shareholders’ equity also strengthened, rising to N39.87 billion from N29.27 billion, supported by retained earnings growth to N21.74 billion.

Cash flow generation improved markedly, with net cash inflow from operating activities rising to N13.47 billion from N5.01 billion in the previous year. The company ended the year with cash and cash equivalents of N5.70 billion, up from N3.03 billion in 2024.

Despite increased capital expenditure of over N11 billion on fixed assets, Skyway maintained positive financing cash flow, supported by additional borrowings during the year.

Earnings per share rose to 867 kobo from 357 kobo in 2024, reflecting the strong profitability performance and enhanced shareholder value.

The company, however, declared a final dividend of N1.6 billion to its shareholders for the year under review.

Overall, Skyway Aviation Handling Company’s 2025 results highlight strong revenue expansion, good operational efficiency, and sustained investment in infrastructure, positioning the firm for continued growth amid rising demand in Nigeria’s aviation services sector.
Speaking on the Company’s financial performance, the Managing Director/CEO stated that the results reflect the strength of SAHCO’s strategic direction, the resilience of its business model, and the unwavering commitment of its workforce. She noted that despite a challenging operating environment marked by inflationary pressures and rising costs, the Company sustained strong margins and nearly doubled its operating profit.
Dr. Barr Taiwo Afolabi (CON), Chairman of Skyway Aviation Handling Company PLC commenting on the financial report, emphasized that sustained investments in modern equipment and infrastructure have been instrumental in driving operational efficiency, enhancing service delivery, and positioning SAHCO for long-term growth.

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Lagos Police Arrest 23 Suspected Cultists, Recover Firearms in Statewide Raids

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The Lagos State Police Command has recorded significant breakthroughs through coordinated and simultaneous operations targeting cultism and illegal arms proliferation across Ikorodu, Lagos Island, Okoko, Ilasan, Ogba, and Iju areas of the State.

The operations resulted in the arrest of twenty-three suspected cultists, recovery of five (5) firearms and other incriminating exhibits.

During the operation in Ikorodu, four suspects were arrested following credible intelligence linking them to cult-related activities. Preliminary findings indicate links to the Buccaneers Confraternity (Sea Lords).

In Lagos Island, nine  suspected cultists were arrested during a raid on a criminal hideout. In Ilasan, five suspects in connection with a cult-related killing of one Emmanuel Obioson were arrested. In Okoko, one suspect with ties to the Eiye Confraternity was intercepted in possession of a firearm.

Similarly, in Ogba and Iju areas, the operations led to the arrest of four (4) suspects involved in illegal cult gatherings, assault, and other related violent crimes. Weapons used in the attacks were recovered, and victims are currently receiving medical attention.

The suspects are: Shina Wale ‘m’ 36yrs, Kehinde Kareem ‘m’ 18yrs, Mohammed Aileru ‘m’ 18yrs, Bada Mujeeb ‘m’ 18yrs, Salam Kosoko ‘m’ 30yrs, Yusuf Anjorin ‘m’ 19yrs, Quadri Abubakar ‘m’ 21yrs, Lateef Salako ‘m’ 18yrs, Fawaz Bello ‘m’ 30yrs, Oyesola Olalekan ‘m’ age 36yrs, Ubaka Justice ‘m’ age 36yrs, Emmanuel Obekpa ‘m’ age 36yrs, Sodiq Ademola ‘m’ age 36yrs, Balogun Taofeek ‘m’ 33yrs, Azeez Owolabi ‘m’ age 28yrs, Meshack Obini ‘m’ age 24yrs, Fabulous John ‘m’ age 25yrs, Promise Israel ‘m’ age 28yrs, Bright Aniedi ‘m’ age 27yrs, Familola Fikayo David ‘m’ age 24yrs, Akeem Olamilekan ‘m’ aka Magali age 43yrs, Muiz Oyedele ‘m’ age 20yrs, Hamzat Sadiq ‘n’ age 19yrs

The exhibits include: Five (5) locally made pistols, one (1) toy pistol, fifteen (15) live cartridges, three (3) expended cartridges, one (1) Police camouflage face cap, one (1) Army camouflage face cap, one (1) jack knife with the pouch.

The Commissioner of Police, Lagos State Command, reiterates the Command’s unwavering commitment to eradicating cultism and violent crimes.
He urges members of the public to remain vigilant and continue to support the Police with timely and credible information through the Command emergency lines: 07061019374, 08065154338, 08063299264, 08039344870, and 09168630929.

The post Lagos Police Arrest 23 Suspected Cultists, Recover Firearms in Statewide Raids appeared first on Business Today NG.

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UTME 2026 Begins Nationwide as Over 2.2 Million Candidates Participate

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The 2026 Unified Tertiary Matriculation Examination (UTME) has officially commenced today across Nigeria, with more than 2.2 million candidates taking part in the nationwide assessment exercise.

The examination, conducted by the Joint Admissions and Matriculation Board (JAMB), began on Thursday April 16, at accredited Computer-Based Test (CBT) centres nationwide, as candidates sat for their scheduled sessions under strict supervision and updated examination guidelines.

JAMB disclosed that 2,243,816 candidates enrolled for this year’s examination, marking a 10.5 per cent rise compared to the 2.03 million candidates recorded in 2025.

To strengthen the credibility of the process, the board has introduced biometric authentication and live monitoring technology throughout the examination period.

According to JAMB, any candidate whose biometric data fails verification will be rescheduled for another date at designated centres.

Candidates were also instructed to print their examination notification slips from the official JAMB portal to confirm their exam dates, venue, and time, and to report at their centres at least one hour before their allotted session.

State-by-state registration data released by the board showed that Lagos State recorded the highest number of applicants with 381,814 candidates.

It was followed by Ogun with 137,156, Oyo with 122,662, Kaduna with 103,498, and the Federal Capital Territory with 102,961.

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