NASCON

In an extension of their impressive performance in recent years, Nigerian stocks closed 2023 in Lagos on Friday, gaining 46.6 per cent or N13 trillion. This means that the market value of equities improved by almost half when set beside that of last year. On Friday, the total value of the 155 equities at the end of trade stood at N40.9 trillion. A change of government in May had sparked a couple of market-friendly reforms that boosted share prices and drove the benchmark equity index to its all-time high of…

NASCON Allied Industries Plc, makers of Dangote Salt and Seasoning, has confirmed the appointment of Thabo Mabe as its substantive managing director, the company said Tuesday. The board of directors of the salt manufacturer disclosed in a statement that it arrived at the decision at a meeting on 26 May. Mr Mabe has been functioning in an acting capacity as the managing director of the company since 12 February, succeeding Paul Farrer, who resigned a month earlier. He is a graduate of Chemistry and Mathematics…

Aliko Dangote-backed salt-maker NASCON Allied Industries Plc attained its peak half-year revenue level since the company launched approximately half a decade ago in 1973 as the corporation crossed N25 billion in sales for the six months to June. The turnover, 43 per cent greater than the figure reported a year earlier, derived its growth elementally from goods sold to northern Nigeria, which besides contributing as much as 67.9 per cent to company’s pool of sales expanded N6.2 billion on its own this time…

Salt maker NASCON Allied Industries Plc said it has approved remuneration for its directors and board chairperson. The company’s board said in a regulatory filing on Tuesday it endorsed a pay of N3 million for its chairperson and N2.5 million for each of its non-executive directors, at its annual general meeting on Friday. The company’s non-executive directors include Halima Aliko-Dangote, daughter of Africa’s richest man Aliko Dangote. Others are Olakunle Alake, Abdu Dantata, Sada Ladan…