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

President Tinubu has nominated Mr Taiwo Oyedele as the new Minister of State for Finance, taking over the position from Mrs Doris Uzoka-Anite.

In a statement on Tuesday, it was announced that Mrs Uzoka-Anite will now move to the Ministry of Budget and National Planning as the Minister of State, marking her third portfolio in the administration, after she was earlier stripped of the role of Minister of Trade, Industry, and Investment and replaced by Mrs Jumoke Oduwole.

President Tinubu conveyed Mr Oyedele’s nomination to the Senate for confirmation in a letter to the Senate President, Mr Godswill Akpabio, on Tuesday.

Until his nomination, Mr Oyedele, from Ikaram, Akoko, Ondo State, served as the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

The 50-year-old PricewaterhouseCoopers (PwC) alumnus is an economist, accountant, and public policy expert.

He attended Yaba College of Technology, where he obtained a Higher National Diploma (HND) in Accountancy and Finance. He also attended Oxford Brookes University, earning a BSc in Applied Accounting.

He has completed executive education programs at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

Mr Oyedele spent 22 years of his working career at PwC, joining in 2001 and rising to become Fiscal Policy Partner and Africa Tax Leader.

He is also a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School (LBS).

By Aduragbemi Omiyale

The Debt Management Office (DMO) has asked retail investors interested in investing in the FGN savings bonds to begin to talk to their financial advisers.

This is because subscription for the retail bonds for March 2026 has commenced and will close on Friday, March 6, according to a circular issued by the agency on Monday.

The debt office is selling two tenors of the debt instrument, with the shorter note maturing in two years’ time and the longer maturing a year later.

Details of the notice showed that the two-year paper is being offered at a coupon of 12.906 per cent, and the three-year paper at 13.906 per cent.

Both notes are sold at a unit price of N1,000, with a minimum subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50 million. They can be purchased via approved stockbroking firms in Nigeria.

The FGN savings bond qualifies as a security in which trustees may invest under the Trustee Investment Act. It also serves as government securities within the meaning of the Company Income Tax Act (CITA) and the Personal Income Tax Act (PITA) for tax exemption for pension funds, amongst other investors.

It can be used as a liquid asset for liquidity ratio calculation for banks, and is listed on the Nigerian Exchange (NGX) Limited for trading at the secondary market.

The bond is backed by the full faith and credit of the Federal Government of Nigeria (FGN) and charged upon the general assets of the country.