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Caverton Offshore Support Group, founded and controlled by the family of prominent Nigerian businessman Oluremi Makanjuola, says it closed the final quarter of 2025 with revenue falling sharply and losses still deep, even as the deficit narrowed slightly from a year earlier.
In a financial update published Jan. 30, the Lagos based offshore logistics provider reported fourth quarter revenue of 3.74 billion naira, down from 13.11 billion naira in the same period of 2024. Net loss was 7.31 billion naira, compared with a 7.78 billion naira loss a year earlier. Basic loss per share from continuing operations improved to 2.18 naira from 2.32 naira.
Caverton supports energy producers and other clients with aviation and marine logistics tied largely to offshore oil and gas activity. Its businesses include helicopter and fixed wing charter, shuttle flights to offshore platforms, aircraft maintenance, marine transport, crew boats and related training services. The company says it operates as an integrated provider across Nigeria and the wider region, pairing vessels with aviation to move people and cargo efficiently.
Caverton Offshore Support Group was incorporated in 2008 to combine Caverton Helicopters and Caverton Marine, both already active in Nigeria’s oil and gas supply chain. The group traces its roots to entrepreneur and banker Aderemi Makanjuola, who started the business in 1999 as a marine company before expanding into aviation. Today, the company is led by Executive Vice Chairman and Chief Executive Officer Olabode Makanjuola.
The quarter’s revenue drop highlights the volatility facing service firms tied to offshore activity, where contract timing, fleet utilization and foreign exchange costs can swing results. The company did not provide a detailed breakdown in the brief market update, but the figures show losses remained heavy despite the smaller year on year gap.
Investors have also been watching how offshore service companies manage financing costs and replace aging equipment, especially as clients demand higher safety and uptime standards. Caverton has said it aims to raise service quality while expanding and modernizing its fleet of aircraft and vessels.
