Economy
Spike in Demand for Salt, Seasoning Products Raise NASCON Revenue by 27%
By Aduragbemi Omiyale
One of the leading salt refiners in Nigeria, Nascon Allied Industries Plc, a subsidiary of Dangote Group, has recorded a 27 per cent spike in revenue for the 2025 financial year.
The financial statements of the company disclosed that earnings stood at N152.7 billion compared with the N120.4 billion achieved in 2024, driven by a robust demand for its salt and seasoning products and improved production stability.
This helped the firm to raise its gross profit by 33 per cent to N73.9 billion from N55.5 billion, as the profit after tax went up by 115 per cent to N33.5 billion from N15.6 billion, and the earnings per share grew by 115 per cent at N12.41, inspiring the board to jack up the dividend payout by 200 per cent at N6.00.
“It is a privilege to present the audited results of Nascon Allied Industries Plc for the year ended December 31, 2025,” the Managing Director, Mr Aderemi Saka, said.
“This year’s performance stands as a testament to our collective resilience and strategic discipline in navigating a demanding macroeconomic environment.
“Our commitment to operational excellence delivered the strongest bottom-line performance in our company’s recent history.
“Revenue grew by 27 per cent to N152.7 billion, reinforced by a robust demand for our salt and seasoning products and improved production stability, while gross profit rose by 33 per cent to N73.9 billion.
“Profit After Tax surged by 115 per cent to N33.5 billion, and this exceptional earnings growth translated into a 115 per cent increase in Earnings Per Share, now at N12.41.
“Reflecting this solid performance, the board is pleased to propose a dividend of N6.00 per share, representing a 200 per cent increase,” he added.
Mr Saka attributed the success of last year to “the 72 per cent expansion of our asset base to N135.3 billion, enabled largely by our strategic investment in new Compressed Natural Gas (CNG) trucks.
“This transition serves a dual purpose: protecting our operations from the volatility of diesel prices while significantly reducing our carbon footprint.
“By strengthening our logistics capabilities, we have enhanced operational independence and secured greater supply chain control, deepening the sustainability of our business model.”
“We concluded the year with a strong liquidity position, as cash and cash equivalents rose by 69 per cent to N41.6 billion, supported by operating cash flows of N43.9 billion.
“This financial strength gives us the capacity to continue investing in technology, infrastructure, and operational efficiency initiatives that will reinforce our market leadership,” he further stated.
“As we look ahead, we remain focused on increasing our market presence, strengthening operational resilience, and executing the long-term strategic initiatives that support sustainable growth.
“With a solid balance sheet and a committed workforce, we are well-positioned to continue delivering value to our shareholders and all stakeholders.
“I extend my sincere appreciation to our shareholders, customers, and employees for their unwavering support. As we move forward, I am optimistic about carrying this momentum into 2026 and beyond,” the MD disclosed.
By Adedapo Adesanya
Four securities buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 1.00 per cent on Wednesday, May 6.
During the session, 11 Plc soared by N19.10 to sell at N210.10 per unit compared with the previous day’s N191.00 per unit, FrieslandCampina Wamco Nigeria Plc gained N9.90 to close at N116.80 per share versus N106.90 per share, Food Concepts Plc rose by 23 Kobo to N2.59 per unit from N2.36 per unit, and IPWA Plc increased by 3 Kobo to trade at N7.3o per share compared with the preceding day’s N7.27 per share.
As a result, the market capitalisation went up by N24.32 billion to N2.454 trillion from N2.429 trillion, and the NASD Unlisted Security Index (NSI) grew by 40.64 points to 4,101.58 points from 4,060.94 points.
It was observed that at midweek, there were two price decliners led by Okitipupa Plc, which shrank by N5.00 to finish at N300.00 per unit compared with the previous day’s N305.00 per unit, and Central Securities Clearing System (CSCS) Plc dipped by N1.14 to N76.00 per share from N77.14 per share.
The volume of securities traded by investors fell by 9.5 per cent to 506,651 units from the 679,768 units recorded a day earlier, and the number of deals slid by 15.9 per cent to 37 deals from 44 deals, while the value of securities went up by 25.5 per cent to N44.8 million from the N30.9 million recorded on Tuesday.
At the close of business, Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 60.3 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.8 million units traded for N1.9 billion.
GNI Plc also ended the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units sold for N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units transacted for N1.2 billion.
By Adedapo Adesanya
The Naira maintained stability against the United States Dollar in the parallel market segment of the foreign exchange (FX) market on Wednesday at N1,380/$1, according to data obtained by Business Post.
However, at the Nigerian Autonomous Foreign Exchange Market (NAFEX), it appreciated against the greenback by N9.22 or 0.67 per cent to quote at N1,357.34/$1 versus Tuesday’s closing value of N1,366.56/$1.
Equally, the local currency gained N5.58 against the Pound Sterling in the same market window at midweek to close at N1,847.20/£1 compared with the previous day’s N1,852.78/£1, and against the Euro, it was strengthened by N3.74 to N1,595.00/€1 from N1,598.74/€1.
In the same vein, the Nigerian Naira improved its rate against the US Dollar at the GTBank forex counter yesterday by N9 to sell at N1,375/$1, in contrast to the preceding session’s N1,384/$1.
Market activity improved notably, with total deals rising to 287 on Wednesday, a 25 per cent increase from 262 recorded on Tuesday. FX turnover climbed by 59.22 per cent or $157.88 million to $424.46 million from $266.58 million posted the previous day.
Activity in the interbank segment also strengthened. The number of deals rose by 62.6 per cent to 161 on Wednesday from 99 on Tuesday, while turnover surged by 120.95 per cent to $158.18 million from $71.59 million.
The improved liquidity conditions saw Nigeria’s external reserves continue their downward trend, declining to $48.33 billion as of May 5, 2026, according to data from the apex bank.
The Naira could face mild pressure from maturing securities, particularly the large volume of Open Market Operations (OMO) maturities exceeding N7 trillion. However, inflows from autonomous sources are expected to provide some cushion against potential volatility, analysts at the FMDA said.
Meanwhile, the cryptocurrency market was mixed as global stock markets ripped to fresh records on US-Iran ceasefire hopes, with reports indicating the two countries are working on a proposal to end the nearly 10-week conflict.
Binance Coin (BNB) gained 1.9 per cent to sell for $646.39, Solana (SOL) appreciated by 1.4 per cent to $88.55, Cardano (ADA) rose by 1.0 per cent to $0.2661, and TRON (TRX) increased by 0.3 per cent to $0.3447.
On the flip side, Dogecoin (DOGE) fell by 4.1 per cent to $0.1108, Ethereum (ETH) declined by 1.4 per cent to $2,329.51, Ripple (XRP) slipped by 1.7 per cent to $1.41, and Bitcoin (BTC) decreased by 0.3 per cent to $81,025.93, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.
By Dipo Olowookere
The bulls returned to the Nigerian Exchange (NGX) Limited on Wednesday, helping the platform to close in green territory by 0.41 per cent.
Bargain-hunting activity by investors lifted the stock market at midweek, with all but one sector pointing northwards.
The banking counter appreciated by 0.78 per cent, the insurance sector grew by 0.62 per cent, the consumer goods industry improved by 0.26 per cent, and the industrial goods index expanded by 0.05 per cent, while the energy segment lost 0.01 per cent.
When the closing gong was struck to close trading activity, the All-Share Index (ASI) was up by 979.36 points to 242,729.51 points from 241,750.15 points, and the market capitalisation increased by N629 billion to N155.781 trillion from the previous day’s N155.152 trillion.
Airtel Africa gained 10.00 per cent to close at N3,323.40, CAP appreciated by 9.99 per cent to N193.20, Zichis expanded by 9.97 per cent to N27.58, RT Briscoe advanced by 9.95 per cent to N14.15, and FTN Cocoa rose by 9.92 per cent to N7.31.
Conversely, SUNU Assurances lost 10.00 per cent to trade at N4.05, Guinness Nigeria slipped by 9.99 per cent to N402.60, Caverton depreciated by 8.33 per cent to N5.50, Fortis Global Insurance shrank by 7.69 per cent to N1.08, and May and Baker decreased by 6.82 per cent to N32.00.
Investor sentiment was strong after the bourse finished with 46 appreciating equities and 24 depreciating equities, indicating a positive market breadth index.
CWG was the most active stock with a turnover of 421.7 million units worth N8.9 billion, Access Holdings transacted 85.4 million units valued at N2.1 billion, Chams traded 83.4 million units worth N267.0 million, Secure Electronic Technology sold 59.8 million units valued at N59.5 million, and Zenith Bank exchanged 56.0 million units for N7.2 billion.
In all, a total of 1.4 billion shares valued at N59.4 billion were bought and sold by investors in 85,804 deals at midweek versus the 1.3 billion shares worth N75.2 billion transacted in 102,665 deals a day earlier, representing an increase in the trading volume by 7.69 per cent, and a decline in the trading value and number of deals by 21.01 per cent, and 16.42 per cent, respectively.
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