Nigeria Customs Technical/Hangar Services Posts 172% Revenue Surge, Earns CGC Commendation
The Comptroller-General of Customs (CGC), Adewale Adeniyi, has commended the impressive financial performance of Technical and Hangar Services Limited, a company backed by the Nigeria Customs Service, describing its 2025 results as remarkable for a growing enterprise operating in a highly regulated aviation environment.
Speaking at the company’s Second Annual Meeting in Abuja, the CGC expressed satisfaction with the firm’s strong revenue growth, improved profitability and enhanced operational efficiency, assuring the management of continued institutional support from the Service as majority shareholder.
“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 for a company operating in a volatile, strictly regulated sector to deliver such a strong profit margin was commendable, and urged the management to sustain its focus on operational discipline and sound corporate governance. The CGC also praised the leadership for steering the company away from losses and positioning it for sustainable growth.
Earlier in his remarks, the Acting Chairman of the company and Deputy Comptroller-General of Customs, Timi Bomodi, reviewed the company’s performance and outlined priorities for the year ahead. He attributed the improved results to the dedication of the board, management and staff, as well as the impact of strategic partnerships.
“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 improvements in operational efficiency that have enhanced turnaround time and service delivery, the establishment of strategic partnerships to expand technical capabilities and market reach, and sustained compliance with local and international aviation standards, reinforcing the company’s reputation for safety and quality.
Presenting the financial report, the Managing Director, Comptroller of Customs (Capt) Kuhi Mbaya rtd, disclosed that the company recorded a 172 per cent increase in revenue, rising from ₦205.19 million in 2024 to ₦557.93 million in 2025.
Profit grew by 135 per cent, from ₦192.71 million in 2024 to ₦452.28 million in 2025, reflecting improved revenue scale and stronger margins.
In addition, Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) rose by 323 per cent, from ₦51.43 million in 2024 to ₦217.74 million in 2025, underscoring enhanced operational efficiency and earnings capacity.
The meeting also brought issues of board succession and governance to the fore, with emphasis placed on aligning newly appointed members with corporate governance best practices, including the strategic engagement of retired officers of the Nigeria Customs Service in key roles.
