Nascon Allied Industries Plc, a leading Nigerian salt refiner and Dangote Group affiliate, today unveiled its strongest-ever financial performance, with after-tax profit more than doubling to ₦33.5 billion in 2025 and revenue climbing 27% to ₦152.7 billion.
According to Managing Director Aderemi Saka, a major driver of this record performance was the company’s strategic investment in Compressed Natural Gas (CNG) trucks.
The move, Saka said, strengthened logistics capabilities, insulated operations from volatile diesel prices, and reduced the company’s carbon footprint—ultimately boosting operational efficiency and profitability.
“This year’s results are a testament to our resilience and strategic discipline,” Saka said. “The expansion of our asset base by 72% to ₦135.3 billion, largely through new CNG trucks, enhanced supply chain control and operational independence, underpinning sustainable growth.”
The core salt business remained the growth engine, contributing 93% of revenue at ₦141.2 billion, supported by expanded production capacity and an extensive nationwide distribution network. Gross profit rose 33% to ₦73.9 billion, while Earnings Per Share jumped 115% to ₦12.41. Reflecting strong earnings, the Board proposed a dividend of ₦6 per share—a 200% increase over 2024.
Nascon also reported improved liquidity, with cash and cash equivalents rising 69% to ₦41.6 billion, positioning the company for continued investments in technology, infrastructure, and operational efficiency.
Analysts hailed the results as proof of Nascon’s ability to navigate macroeconomic headwinds, including currency volatility and rising input costs, while reinforcing its market leadership in staples.
With a solid balance sheet, low gearing, and strategic logistics upgrades, including the CNG truck initiative, Nascon appears poised to maintain momentum into 2026.
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The Dangote Industries Limited owns 62.19% of NASCON’s issued share capital. While it was originally the National Salt Company of Nigeria (owned by the federal government), it was privatized in 1991 and became a subsidiary of the Dangote Group in 1996.
In late 2023, Aliko Dangote proposed a massive internal restructuring to merge his three major food businesses into a single entity to rival competitors like BUA Foods.
The merger was suspended.
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