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SAHCO Posts First Price Change Five Months After NSE Listing

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Skyway Aviation Handling Company SAHCOL

By Dipo Olowookere

The price of shares of Skyway Aviation Handling Company (SAHCO) Plc on the floor of the Nigerian Stock Exchange (NSE) changed for the first time since it was listed on the exchange.

On April 26, 2019, over one billion shares of the company were admitted on the main board of the exchange at N4.65 each. But since then, price of the stocks has remained flat at the market until on Wednesday, September 25, 2019, when it posted its first movement.

However, this price change was not a positive one for the firm operating in the aviation sector of the nation’s economy as it went south at the close of transactions yesterday.

Business Post reports that shares of SAHCO depreciated by 46 kobo or 9.89 percent to close at N4.19 per unit.

During the trading session, a total of 16,242,960 units of the company’s stocks worth N68.1 million were offloaded. This was in sharp contrast to the 100 units of the equities worth N465 transacted the previous session.

As at the close of business yesterday, SAHCO had shares outstanding of 1,353,580,000 units worth N5.672 billion.

SAHCO sold its shares to investors through an Initial Public Offering (IPO) and the joining of the firm on the NSE further boosted the market capitalisation by N6.29 billion, deepening the Nigerian capital market.

It has also increased the visibility of SAHCO Plc whilst solidifying its brand as a major player in the aviation sector. The listing made SAHCOL Plc the first company under the Bureau of Public Enterprises (BPE) privatisation programme to successfully finalise an IPO and list its shares on a securities exchange.

SAHCO is a full-scale aviation ground handling service provider with a focus on aircraft/ramp handling, cargo handling, passenger handling, premium lounge, aviation security and baggage reconciliation. The firm enjoys the patronage of a clientele that spans international and local commercial airlines, as well as other air cargo companies.

SAHCO was incorporated as a private limited liability company under the name Skyway Aviation Handling Company Limited on 22nd April 2009.

The company is a member of the Sifax Group. In 2009, the Sifax Group, through SAHCO, acquired the Federal Government’s 100% equity stake in Skypower, an aviation ground handling services entity, under the privatization programme of the Nigerian Government.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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FG Withdraws Case Against Ibom Air Passenger, Reduces KWAM 1 Ban

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Comfort Emmanson Ibom Air

By Adedapo Adesanya

The federal government has announced the withdrawal of a criminal complaint against Ms Comfort Emmanson, an Ibom Air passenger arrested over alleged unruly behaviour, as well as the reduction of a flight ban on Fuji musician Wasiu Ayinde Marshall, popularly known as K1 De Ultimate or KWAM 1, to one month.

The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, disclosed this in a statement on Wednesday morning.

He disclosed that this happened following consultations with key stakeholders in the aviation sector over recent incidents involving disruptive conduct at Nigerian airports.

According to the Minister, Ms Emmanson, who was arrested on August 10, 2025, after a confrontation aboard an Ibom Air flight, showed “great remorse” during a police interview in the presence of her lawyer.

As a result, Ibom Air has agreed to withdraw its complaint, with the Police expected to complete steps for her release from Kirikiri Prisons within the week.

The Airline Operators of Nigeria (AON) has also agreed to lift the lifetime flight ban earlier imposed on her.

On the case of K1 and ValueJet, the Minister said the Nigerian Civil Aviation Authority (NCAA) will cut the singer’s flight ban to one month, while also withdrawing its criminal complaint.

The singer will be engaged as an ambassador for airport security protocol.

Additionally, ValueJet’s Captain Oluranti Ogoyi and First Officer Ivan Oloba will have their licenses restored after serving a one-month suspension and undergoing mandatory professional re-appraisal.

Mr Keyamo stressed that the decisions were taken on “compassionate grounds” following appeals from well-meaning Nigerians and expressions of remorse by the parties involved.

He, however, warned that the government would not tolerate further breaches of aviation laws.

The Minister also directed relevant agencies to hold a retreat next week to retrain aviation security personnel on handling disruptive passengers and de-escalating tense situations, while airlines will separately review staff conduct towards travellers.

“We take safety and security in the aviation sector very seriously and have decided to draw a line after these clemencies,” Mr Keyamo said.

“These above decisions were taken by Government and the airline operators purely on COMPASSIONATE grounds as Government will never pander to base sentiments, politically-motivated views or warped legal opinions when clear encroachment of our laws are involved.

“We are also sending a CLEAR MESSAGE that we take safety and security in the aviation sector very seriously and we have decided to draw a line after these clemencies,” he concluded.

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Ibom Air Passenger Comfort Emmanson in Kirikiri for Assaulting Crew

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Comfort Emmanson Ibom Air

By Modupe Gbadeyanka

The Ibom Air passenger, Ms Comfort Emmanson, who allegedly assaulted a crew member of the airline, has been remanded in Kirikiri Correctional Centre in Lagos.

She was sent to jail after she was arraigned on Monday, about 24 hours after she was captured on videos trending on social media hitting an air hostess of Ibom Air.

The passenger was asked to put off her mobile phone but she refused and became unruly. She was also seen attacking other aviation employees called to eject her.

In a post on X, formerly known as Twitter, Mr Tunde Moshood, the media aide of the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, said Ms Emmanson was arraigned today and taken to Kirikiri.

“The more reason the flying public should be more careful, the unruly passenger on the Uyo–Lagos bound Ibom Air, Miss Comfort Emmanson, has been charged to court and she’s now cooling off in Kirikiri,” Mr Moshood disclosed in the post, which has generated different reactions.

The mixed reactions stemmed from the failure of the government to apply similar rules to popular singer, Mr Wasiu Ayinde, otherwise known K1 De Ultimate, who blocked a moving aircraft last week at the Nnamdi Azikiwe International Airport, Abuja.

Though K1 De Ultimate later apologised for his behaviour,, many have called for his prosecution in court and not only be banned from flying for six months as declared by the Nigeria Civil Aviation Authority (NCAA).

As for Ms Emmanson, Ibom Air has prohibited her from using its airline, saying her action she posed a serious threat to the safety of its crew, passengers, and aircraft.

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Hotel, Night Club Owners to Henceforth Obtain LASPA, LASTMA Approvals

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LASPA hotel owners

By Modupe Gbadeyanka

All operators in the hospitality business in Lagos State have been directed to henceforth obtain approvals from the Lag​os State Parking Authority (LASPA) and the Lagos State Traffic Management Authority (LASTMA) for effective parking and traffic management.

This directive was given by the Lagos State government in a joint statement signed by the General Manager of LASPA, Mrs Adebisi Adelabu and the General Manager of LASTMA, Mr. Bakare-Oki Olalekan, at the Parking Authority office.

This directive, according to the notice, affects owners of hotels, event centres and night clubs in the cosmopolitan city, and it became necessary to effectively rid the state of all forms of indiscriminate parking of vehicles and traffic congestion generated by the activities of the various hotels, event centres and night clubs.

Operators have been told to comply with parking and traffic regulations of the state by registering and getting the approvals of both the LASPA and LASTMA or face prosecution according to the Lagos State Transport Sector Reform Laws 2018.

It was emphasised that both agencies, under the Lagos State Ministry of Transportation, are collaborating to rid the state of all forms of traffic congestion and ensure smoother, safer Lagos roads.

The statement further emphasised that while LASPA is the agency charged with the responsibility of ensuring proper parking management, LASTMA deals with traffic management.

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