Airport Fire And Safety Cooperative Society Records Over N217m, 2023
The Airport Fire and Safety Cooperative Multipurpose Society (AFSCMS) has recorded a total income of N217,857,251.75 in 2023, a slight increase from the previous year.
In his address at the 24th Annual General Meeting of AFSCMS Limited, the AFSCMS Executive President, Alhaji Sadiq Anako emphasized the dedication and hard work of the entire community in contributing to these successes.
He revealed that the society also returned a trading surplus of N59,595,225.86 and declared a dividend of N35,176,538.76 to its members.
According to him, despite economic challenges posed by government reforms, the society has continued to grow. He noted, the Hospitality/Guesthouse operations contributed significantly to this income, accounting for 57%.
While acknowledging the challenges faced by the society, such as limited resources and membership depletion, Anako expressed optimism about the future. He highlighted the importance of diversifying investments and leveraging the membership’s strength to unlock revenue streams.
The society’s shares subscription initiative has gained traction, with a significant number of members subscribing to shares.
A major highlight of the year was the completion of the new wing of the Fire Coop Aviators’ Lodge. This project, funded through shares subscription and bank facilities, is expected to boost the society’s revenue and enhance its hospitality offerings. The society is currently focused on furnishing the new wing to facilitate its operational readiness.
The AFSCMS President also emphasized the importance of human capacity building and empowerment, stressing the society will continue to invest in training programmes for its members, focusing on entrepreneurship and cooperative leadership.
The president concluded his address by acknowledging the support of the society’s members, staff, and stakeholders. He expressed gratitude for the recent award received from Crason and his appointment to the Ministerial Technical Working Group for Cooperative Reform.
Anako reiterated his commitment to leading the society towards a prosperous future and urged members to actively participate in its activities.
