Taiwo Afolabi leads Ports and Cargo recovery

SIFAX Group Chairman Dr. Taiwo Afolabi has overseen a turnaround at Ports and Cargo Handling Services Limited after a strategic restructuring of its stevedoring operations helped reduce operating costs and improve productivity.

The terminal operator, a subsidiary of SIFAX Group, said its operational rebound in 2025 followed a deliberate shift toward general cargo as its core business focus. The reset came after a challenging 2024 in which the company lost several high profile clients, resulting in lower cargo volumes and weakened earnings.

According to a statement issued by the group corporate communications team, the repositioning stabilised the business and unlocked a new growth path. Management said returning to general cargo and break bulk handling strengthened the terminal resilience and restored confidence among customers.

Managing Director John Jenkins said operational reforms were central to the recovery process. He explained that restructuring the stevedoring framework led to measurable improvements in productivity following a change in service provider.

Jenkins added that the company invested in critical equipment, including forklifts and spare parts, while rebalancing its workforce to improve efficiency. Key operational roles were filled with experienced personnel to enhance service delivery and support higher cargo throughput.

He said the lessons learned during the difficult period have reshaped the company approach to cost management and execution. With demand stabilising, the focus is now on disciplined operations and margin protection.

Looking ahead, the company projects strong revenue growth, with general cargo expected to account for the largest share. Management cited rising volumes of steel, vehicles and palletised cargo, alongside increasing imports from Asia, as drivers of future expansion.

To sustain momentum, Ports and Cargo has outlined a 2026 capital expenditure plan that includes crane upgrades, additional forklifts and terminal tractors. The investments are aimed at easing capacity constraints and reducing reliance on hired equipment.

Jenkins acknowledged ongoing constraints, including limited space within the terminal and fluctuations in container shipping services. However, he expressed confidence that the company is better positioned to manage volatility.

Ports and Cargo operates within SIFAX Group broader port and logistics portfolio, providing specialised cargo handling services in Nigeria maritime sector under the strategic leadership of Taiwo Afolabi.