Nigerian mogul Taiwo Afolabi’s SAHCO holding climbs to $48 million, backed by soaring revenue, profit, and investor confidence.
Key Points
- Taiwo Afolabi’s 60.76% stake in SAHCO is now valued at $48.24 million, up from $17.92 million at the start of 2025.
- SAHCO’s first-half 2025 revenue surged 74% to $13.7 million, while profit jumped 155% on new partnerships and regional expansion.
- The company’s market cap climbed to $79.5 million, reflecting renewed investor confidence and strong performance in Nigeria’s aviation services sector.
Nigerian logistics mogul Taiwo Afolabi has taken another step up the ranks of the country’s wealthiest business leaders, as the value of his controlling stake in Skyway Aviation Handling Company Plc (SAHCO) nears the $50 million mark. Backed by the reach of his conglomerate, SIFAX Group, Afolabi has become one of the most influential names in Nigeria’s logistics and maritime industries. His latest gains highlight both the importance of diversification and the growing strength of the country’s aviation services sector.
Afolabi’s SAHCO stake climbs to $48 million
Recent figures show that Afolabi’s 60.76 percent stake in SAHCO, 822,373,080 shares in total, is now worth N74.05 billion ($48.24 million). That’s a leap of N46.54 billion ($30.32 million) since the start of 2025, when the holding was valued at N27.5 billion ($17.92 million). The rally mirrors a sharp climb in SAHCO’s share price on the Nigerian Exchange, from N33.45 ($0.022) on Jan. 1 to N90.05 ($0.059) at the time of reporting. The surge has not only cemented Afolabi’s standing as one of the exchange’s most prominent investors but also put SAHCO in the spotlight as one of the sector’s strongest performers this year.
This rise is rooted in a career built on persistence and a willingness to take risks. Trained as a lawyer at the University of Lagos, Afolabi began his professional journey at Nigerian Express Agencies Limited (NEAL), where he earned a reputation as a promising young manager in shipping operations and port management. After further studies in shipping management abroad, he returned to NEAL, eventually rising to become Head of Operations. But his entrepreneurial drive soon pushed him to branch out on his own. In 1988, guided by a vision to strengthen Nigeria’s maritime industry, he founded SIFAX Group.
SAHCO growth reflects Afolabi’s bold strategy
Over the years, SIFAX has grown into a diversified player in aviation, oil and gas, logistics, and hospitality. It has built a strong international footprint, with offices in Ghana, South Africa, the United States, Belgium, and the United Kingdom, and new ventures underway in Djibouti and Equatorial Guinea. One of Afolabi’s boldest moves came when SIFAX acquired SAHCO through a privatization process led by the Bureau of Public Enterprises.
The company was later rebranded as SAHCO, anchoring SIFAX’s entry into aviation. At the same time, SIFAX was expanding in maritime infrastructure, winning concessions for Port Harcourt Ports Terminal “A” in 2006 and Tin Can Island Ports Terminal “C,” moves that strengthened its influence in Nigeria’s trade and logistics landscape.
That strategy is paying off today. SAHCO has seen a sharp turnaround, fueled by Afolabi’s focus on efficiency and his push for greater indigenous participation in the aviation and shipping industries. In the first half of 2025, the company’s revenue rose by 74 percent, from N12.1 billion ($7.9 million) in the same period of 2024 to N21.06 billion ($13.7 million). Profit growth was even stronger, jumping 155.4 percent on the back of new partnerships, regional expansion, staff development, infrastructure investment, and closer adherence to industry standards.
The improved performance has strengthened SAHCO’s financial base. Retained earnings climbed from N10.82 billion ($7.05 million) at the end of 2024 to N18.15 billion ($11.82 million) by mid-2025. Total assets rose from N41.77 billion ($27.22 million) to N52.96 billion ($34.5 million) over the same period, while shareholders’ equity grew from N29.26 billion ($19.06 million) to N36.36 billion ($23.7 million). These gains helped spark fresh investor interest, lifting SAHCO’s market capitalization to N122 billion ($79.5 million).
A legacy built on vision and grit
For Afolabi, these numbers are more than balance sheet victories. They reflect a lifetime of steady building, from his days as a young shipping manager to the helm of one of Nigeria’s largest conglomerates. His journey shows the weight of persistence, foresight, and a commitment to creating space for Nigerian businesses in global trade and aviation. With his SAHCO stake approaching the $50 million threshold, Afolabi is not just counting financial returns, he is shaping industries that carry Nigeria’s economic ambitions far beyond its shores.
