Dangote’s Salt Refiner NASCON Triples Dividend as Profit More Than Doubles
Nascon Allied Industries Plc (NASCON), a subsidiary of the Dangote Group and a major player in the Nigerian salt refining sector, has reported a 115% surge in profit after tax to ₦33.5 billion, and proposed a 200% increase in dividend payouts.
According to the audited results released on Tuesday, NASCON’s revenue grew by 27% to hit ₦152.7 billion, driven by what the company describes as robust demand for its salt and seasoning products. This topline growth was complemented by improved production stability, pushing gross profit up by 33% to ₦73.9 billion.
Reflecting this profitability, the company’s board of directors has proposed a dividend of ₦6.00 per share, a threefold increase from the previous year. This payout aligns with the company’s earnings per share, which also jumped 115% to settle at ₦12.41.
Aderemi Saka, Managing Director of NASCON, attributed the financial performance to strategic discipline and operational resilience in a challenging economic climate.
“Our commitment to operational excellence delivered the strongest bottom-line performance in our company’s recent history,” Saka said. “This exceptional earnings growth translated into a 115% increase in earnings per share.”
Strategic investments drive asset growth
Beyond profitability, NASCON significantly expanded its operational capacity. Total assets grew by 72% to ₦135.3 billion. A major catalyst for this expansion was a strategic shift in logistics.
“A major driver of our progress in 2025 was the expansion of our asset base, enabled largely by our strategic investment in new Compressed Natural Gas trucks,” Saka said. “This transition serves a dual purpose: protecting our operations from the volatility of diesel prices while significantly reducing our carbon footprint.”
The company closed the year with a robust liquidity position. Cash and cash equivalents rose by 69% to ₦41.6 billion, bolstered by strong operating cash flows of ₦43.9 billion.
Looking toward the rest of 2026, the company plans to leverage its financial strength to invest further in technology and infrastructure. “With a solid balance sheet and a committed workforce, we are well-positioned to continue delivering value to our shareholders and all stakeholders,” Saka said.
