Caverton Offshore Support Group Plc, the aviation and marine services company founded by Nigerian magnate Aderemi Makanjuola, is working to steady its operations after a difficult year marked by a loss of over 36 million. The companys leadership says a broad restructuring, already underway across all subsidiaries, is expected to help bring the group back to profit.
Makanjuola pushes cost cuts, recovery
Group CEO Olabode Makanjuola, the eldest son of Aderemi Makanjuola, said the overhaul is aimed at tightening costs, improving service delivery and restoring confidence among clients and investors. He noted that 2024 was challenging for many Nigerian companies dealing with currency swings, high financing costs and weaker activity in the oil sector.