Nigerian business tycoon Taiwo Afolabi to pocket N986.9 million from SAHCO Plc

Nigerian business tycoon Taiwo Afolabi is set to receive a N986.85 million dividend payout from his controlling stake in Skyway Aviation Handling Company Plc (SAHCO), following the strong full-year 2025 financial performance of the leading airport and aviation service provider listed on the Nigerian Exchange Group (NGX). The payout reflects SAHCO’s improved profitability, driven by higher revenue, operational efficiency, and expansion across Nigeria’s aviation handling sector.

SAHCO declared a total dividend of N1.62 billion ($1.2 million) for the 2025 financial year, with Afolabi’s majority stake translating into the largest individual payouts. His ownership position of over 60% underscores his influence in the company’s strategic direction and growth.

Afolabi’s leadership drives SAHCO’s growth
The dividend, to be paid on Wednesday, June 25, 2026, is a testament to Skyway Aviation’s impressive financial results. The board of directors recommended a dividend of N1.2 ($0.00088) per share for the 2025 fiscal year.

With Afolabi at the helm as the chairman of Skyway Aviation Handling Co. Plc, his leadership and influence wield through his majority stake, which includes 379.04 million direct shares and 443.33 million indirect stakes through SIFAX Shipping Ltd, continues to strengthen SAHCO Plc, underpinned by operational expansion, sector diversification and improved service efficiency in Nigeria’s aviation handling industry. Profit after tax more than doubled to N9.74 billion ($7.16 million), underscoring significant improvements in operational efficiency.

The impressive earnings growth was driven by a sharp rise in revenue, which climbed from N28.94 billion ($21.29 million) to N44.46 billion ($32.71 million), reflecting robust contributions across its core aviation and cargo handling operations. The group’s balance sheet expansion was equally striking, with total assets surging by 97.92% to N82.69 billion ($60.82 million), highlighting strengthened financial capacity and long-term stability. Retained earnings also jumped from N10.82 billion ($7.96 million) to N19.75 billion ($14.52 million).

Afolabi’s SAHCO’s stake delivers $0.73 million payday
Skyway Aviation Handling Company’s strong financial performance prompted its board to propose a dividend of N1.2 ($0.00088) per share, up 100% from the dividend of N0.6 ($0.00091) per share paid to shareholders in the previous year.

Afolabi, who holds a 60.76% stake in SAHCO, equivalent to 822,373,080 shares, stands to receive N986,847,696 ($726,173.12), solidifying his position as one of Nigeria’s richest aviation investors and a prominent dividend earner in the Nigerian aviation handling and services industry.