Mkpoikana Udoma
Port Harcourt — Technical and Hangar Services Limited, a company backed by the Nigeria Customs Service, has posted a 172 per cent surge in revenue for the 2025 financial year, according to the Comptroller-General of Customs, Adewale Adeniyi.
At the company’s Second Annual Meeting in Abuja, Adeniyi described the performance as “remarkable” for a growing enterprise operating within a tightly regulated and volatile aviation environment.
“I want to assure you that the Service, as majority shareholder, will continue to give the management of the company all the support and assistance required to engage relevant stakeholders,” Adeniyi said.
He noted that delivering strong profit margins in such a sector required discipline and governance, urging the leadership to sustain operational efficiency and corporate best practices.
“For a company operating in a volatile, strictly regulated sector to deliver such a strong profit margin is commendable,” he added, praising management for steering the firm away from losses and positioning it for sustainable growth.
Presenting the financial report, Managing Director, Comptroller of Customs (Capt.) Kuhi Mbaya (rtd), disclosed that revenue rose from N205.19 million in 2024 to N557.93 million in 2025; a 172 per cent increase.
Profit climbed by 135 per cent, from N192.71 million in 2024 to N452.28 million in 2025, reflecting improved scale and stronger margins.
Earnings Before Interest, Tax, Depreciation and Amortization, EBITDA, recorded an even sharper jump of 323 per cent, rising from N51.43 million in 2024 to N217.74 million in 2025, underscoring enhanced operational efficiency and earnings capacity.
Earlier, Acting Chairman and Deputy Comptroller-General of Customs, Timi Bomodi, attributed the performance to strengthened governance, strategic partnerships and workforce dedication.
“These accomplishments are a direct result of the professionalism of our management team, the dedication of our staff, and the oversight provided by this board,” Bomodi said.
He highlighted improved turnaround time and service delivery, expanded technical capabilities through partnerships, and strict compliance with local and international aviation standards.
The meeting also addressed board succession and governance alignment, with emphasis on integrating newly appointed members into best-practice corporate frameworks and leveraging the expertise of retired Customs officers in key roles.
