Travel/Tourism
Caverton Eyes Positive Returns for Shareholders
By Dipo Olowookere
Leading provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria, Caverton Offshore Support Group (COSG) Plc, has said it intends to deliver good yields to its shareholders in the present financial year.
In order to achieve this goal, the company wants to continue to provide the quality of service its clients have become accustomed to over the years.
Chief Executive Officer of Caverton, Mr Bode Makanjuola, expressed confidence that the company, which offered chartered chopper to Vice President Yemi Osinbajo during the campaign for the 2019 general elections, would excite shareholders with a impressive performance.
“As we move into the 3rd quarter of 2019, our commitment is to continue to provide the quality of service our clients have become accustomed to, as well as positive returns for our shareholders,” Mr Makanjuola assured.
In the first half of this year, Caverton achieved a profit before tax of N2.6 billion and an after-tax profit of N1.7 billion. During the period, revenue increased by 19 percent to N16.9 billion from N14.2 billion recorded in the same period of 2018, while the direct operating costs also increased by 15 percent, supporting the earnings per share which also increased by 78 percent when compared with same period in 2018.
A further analysis of the results showed that operating profit, excluding other income, rose to N3.2 billion from N2.7 billion June 2018, while the EBITDA for the period increased to N6.3 billion from N3.6 billion in June 2018.
The EPS grew to 51 kobo from 29 kobo in June 2018, while the profitability ratios gross margin appreciated by 36 percent against 34 percent in June 2018, with the EBITDA margin standing at 37 billion in H1 2019 versus 25 percent in H1 2018, and the net profit margin at 10 percent in contrast to 7 percent in June 2018.
Caverton is one of Nigeria’s leading oil services companies providing solutions for a range of multinational companies across aviation and marine services.
Caverton Marine Limited, one of the fastest growing indigenous shipping companies commenced operations in 1999, while Caverton Helicopters Limited is a helicopter charter, sales and maintenance company established in 2002. Both companies were consolidated to form Caverton Offshore Support Group on June 2, 2008.
The group’s focus and primary business is to provide logistics and environmental support services to oil and gas fields with broader plans to support energy operations along the West African shelf as well as other ancillary support services.
Caverton has a young and growing fleet of vessels and aircraft operating out of nine locations. The company has an impressive oil and gas client base which include Shell, Total, ExxonMobil, NNPC, Aiteo, Aje-Folawiyo, and Chevron, among others.
Travel/Tourism
Emirates Showers Dubai Passengers With Exclusive Offers
By Modupe Gbadeyanka
Emirates passengers travelling to or through Dubai will enjoy some exclusive offers, including complimentary stays at the iconic JW Marriott Marquis and hundreds of discounts through the popular My Emirates Pass, the airline operator has said.
In a statement, the company stated that from June 22 to July 12, 2026, travellers who purchase an Emirates return ticket in First Class or Business Class are invited to enjoy a two-night stay, while customers booked in Premium Economy Class or Economy Class can enjoy a complimentary one-night stay.
It was disclosed that this special offer is valid for all return tickets to or stopping over in Dubai for more than 24 hours, for customers travelling between June 25 and September 30, 2026.
In addition, passengers can enjoy over 600 offers available in the popular My Emirates Pass, which provides access to spas, restaurants, big-name retailers and much more by simply showing either a physical or digital boarding pass along with a valid ID at participating venues to enjoy the benefits.
These exclusive offers are being offered by Emirates through its Dubai Summer Surprises, which enters its 28th year in 2026.
Further, from July 2 to August 30, residents and visitors can expect an extraordinary live Beat the Heat DXB concert series, cultural events and an array of wellness and fitness activities, as well as big savings and exclusive, limited-time experiences in the city’s malls and lifestyle destinations.
“Whether visitors are seeking relaxation, adventure, entertainment, or a combination of all three, Dubai is the ideal start to any summer vacation.
“We’re inviting passengers to enjoy even more of the city with a complimentary hotel stay to take advantage of the exceptional range of shopping, entertainment, dining and family-friendly experiences that define the Dubai summer experience, when stopping over as part of your journey or visiting Dubai as your final destination,” the Deputy President and Chief Commercial Officer of Emirates, Mr Adnan Kazim, said.
Travel/Tourism
Akida Hills to Transform Jabi Lake Waterfront to Tourism Destination
By Modupe Gbadeyanka
The popular Jabi Lake waterfront in Abuja is set to become a major leisure and tourism hub in the country, thanks to Akida Hills, which is making efforts to enable visitors to enjoy the transformation from December 2026.
The Nigerian mixed-use real estate and destination development company has been allocated a 3.36-hectare development site within the approximately 14-hectare waterfront district, where it will deliver a phased mix of recreational, entertainment, and public leisure experiences.
According to the deal, the first phase of the development will introduce the destination’s first operational attractions, including dining and leisure experiences, water-based activities, structured weekly programming, a seasonal lights festival, and the dancing musical fountain as its signature attraction.
Additional experiences and amenities will be introduced in subsequent phases as the destination evolves.
Designed as a central landmark within the waterfront experience, the dancing musical fountain will combine choreographed water displays, synchronised lighting, and music to create a distinctive evening attraction and focal point for visitor engagement.
Upon completion, the development is expected to serve as a major hub for tourism, recreation, entertainment, and community engagement, further strengthening Abuja’s position as a leading leisure and lifestyle destination.
Construction and implementation activities will progress in phases, with additional announcements on attractions, programming, and commercial partnerships expected ahead of the December 2026 launch.
“Jabi Lake represents one of the most significant opportunities to create a world-class waterfront destination in Africa.
“Through this development, we aim to deliver experiences that attract residents, visitors, and tourists year-round while contributing to economic growth, job creation, and Nigeria’s tourism appeal.
“Our vision is to establish Jabi as a defining waterfront destination for the continent – one that demonstrates the transformative power of destination-led development and reimagines how people experience a city,” the founder of Akida Hills, Mr Kayode Bamisile, said.
Travel/Tourism
FAAN Mulls New October Deadline for Airport Taxi Upgrade Policy
By Adedapo Adesanya
The Federal Airports Authority of Nigeria (FAAN) is considering extending the deadline for its airport taxi upgrade policy to October, following concerns raised by the Nigeria Union of Private Cab Operators.
The development was disclosed on Monday in Lagos by Mr Henry Agbebire, Director of Public Affairs and Consumer Protection at FAAN, saying that the possible extension followed complaints and concerns from airport cab operators, even as the authority maintained that the policy was designed to improve service standards across Nigerian airports.
“The policy aligns with international best practices and seeks to elevate service quality,” Mr Agbebire said.
He added that passengers deserved “clean, safe, comfortable and professionally maintained vehicles” within airport transport systems.
The FAAN spokesman dismissed claims that the authority had failed to engage operators on the policy, insisting that consultations had been ongoing.
He said FAAN maintained regular discussions with licensed transport providers operating within airport premises, stressing that engagement was conducted directly with corporate entities rather than unions or associations.
“Engagements on operational matters are conducted directly with affected corporate entities,” he said.
Mr Agbebire explained that discussions on the upgrade requirement began in July 2024, giving operators time to comply.
He noted that the original compliance deadline had already been extended twice—from January 2026 to June 2026—citing economic realities and the need to give operators adequate preparation time.
According to him, the policy was not intended to punish operators or restrict their participation in airport transport services.
“Operators have been afforded ample opportunity to prepare for compliance,” he stated.
However, he warned that further extensions beyond the proposed October deadline may not be granted.
Mr Agbebire acknowledged the role of airport cab operators in passenger movement, urging them to support the initiative aimed at improving service delivery.
He added that FAAN remains committed to passenger-focused reforms across Nigeria’s aviation sector.
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