Business

NASCON plans new products as shareholders laud coy on dividend payout

Published

9 years ago

May 5, 2017

NASCON plans new products as shareholders laud coy on dividend payout

The Management of NASCON on Thursday assured shareholders of bumper returns on their investment in the company as it has concluded arrangements to roll out more products before the end of this year. When introduced, the new products will enhance the company’s turnover, profitability and ultimately rub-off positively on the shareholders.

Chairperson of the company, Yemisi Ayeni at the Annual General Meeting (AGM), held on Thursday revealed that the company recorded a turnover of N18.29 billion, representing a 13 per cent increase over the N16.18 billion in the previous year. Profit after tax, according to her, increased by 15 per cent from N2.11 billion in 2015 to N2.42 billion, while earnings per share also increased from 79 kobo to 91 kobo. As a sign of stability, the company has N2.45 billion in cash reserves for the year under review.

Unanimously, the shareholders approve the payment of 70 kobo per share dividend, representing a pay-out ratio of 77 per cent at N1.85 billion, an improvement from the previous year when it paid N1.46billion to shareholders.

To increase market share and improve efficiency, Ayeni revealed that the company will be “investing in Salt packaging and seasoning cubing lines”. For the year under review, she said while the revenue from the sales of salt increased by 24 per cent to N14.82 billion, sales from seasoning increased by 127 per cent to N0.54 billion.

Executive Director, Commercial, Fatima Aliko Dangote also assured the shareholders of good returns on their investments, noting that the company is doing so much to enhance their stakes on a consistent basis.

According to her: “…we are expanding, we are investing on new refinery for our salt and we are also looking at innovations, we are bringing other products that are going to be launched this year. So, hopefully, 2017 will be a better year for the company and also importantly for the shareholders…We placed shareholders interest so high because they have actually trusted us, they have invested in our business and as you can see, regardless of our challenges, we are still able to push really hard and declare profits. we have to take our shareholders very seriously so that they can keep trusting us, and by so doing, more people will keep buying our shares and hold us in high regards”

Recalled that the company’s Management, led by the Managing Director, Mr. Paul Ferrer paid NAFDAC’s Director-General, Mrs Yetunde Oni a courtesy visit in her office in Lagos. Mr. Ferrer had expressed satisfaction at the efforts of the Agency leadership to sanitise the food market by getting rid of fake and substandard products and turning the heat on the perpetrators, adding that the efforts had paid off. He however explained that he observed an infringement on the directives of the Agency on the packaging of industrial salts by some undesired elements. According to him, contrary to the directives of the NAFDAC that industrial salt should only be packaged in 50kg, his organization observed the existence of the industrial salt in small sizes as 5kg, 10kg, 15kg, and 20kg. He reasoned that someone somewhere has been has been repackaging the 50kg size to smaller sizes and supplying to the markets, a development he said is dangerous as people may be misled to be buying the industrial salt in place of the table salt which comes in the smaller sizes. The Dangote Salt boss therefore enjoined NAFDAC to help see to the development as the unsuspecting consumers might not know the difference between the iodized table salt and the industrial salt.

In her response, Oni thanked the NASCON management for the confidence reposed in her Agency. She said the observation was one of the many infringements her agency has been battling tooth and nail and that the NAFDAC management would not relent in the fight against every infringement to see that the people have access to right quality products always. She advised companies in the food sector to have a Post-Market Surveillance (PMS) unit in their establishment for self-regulation of their market to make enforcement easier for NAFDAC.

Business

ADVAN Wins Global Honour at WFA Awards for “Project Freedom” Initiative

Published

3 days ago

April 25, 2026

Sahara Weekly

ADVAN Earns Global Recognition As WFA President’s Award Winner For “Project Freedom”

The Advertisers Association of Nigeria (ADVAN) has been recognised on the global stage as a recipient of the prestigious WFA President’s Award, presented by the World Federation of Advertisers during its Global Marketer Week in Stockholm. The recognition places ADVAN among a select group of leading industry associations worldwide acknowledged for driving meaningful impact in marketing and society.

The WFA President’s Awards, established in 2010, celebrate national industry associations whose initiatives advance the marketer’s agenda and contribute to positive change. This year’s honours were awarded following a rigorous selection process involving 38 submissions from associations across the WFA’s global network, with winners chosen for their measurable impact and potential for replication across markets.

ADVAN’s recognition comes through its advocacy initiative, Project Freedom, a bold and strategic effort focused on addressing the challenges of stifling, non–data-driven regulations affecting businesses in Nigeria and across Africa. The initiative underscores the importance of evidence-based policymaking while championing the constitutional right to freedom of commerce.

Through Project Freedom, ADVAN has taken a proactive leadership role in engaging key stakeholders and shaping conversations around fair, balanced, and transparent regulation. The initiative reflects a shift toward constructive dialogue and collaboration, ensuring that regulatory frameworks support innovation, protect consumer interests, and enable sustainable business growth.

By earning this global recognition, ADVAN reinforces the growing influence of African marketing institutions in shaping international discourse. Its work highlights how local advocacy, when rooted in data and guided by clear principles, can deliver impact not just within national borders but across the global marketing ecosystem.

The award also affirms ADVAN’s commitment to strengthening self-regulation within the industry, fostering accountability, and promoting standards that align with global best practices while remaining relevant to local realities.

As the marketing landscape continues to evolve, ADVAN’s recognition by the World Federation of Advertisers signals a strong endorsement of its leadership and vision. It positions the association as a key voice in advancing responsible marketing, advocating for enabling policies, and ensuring that businesses can operate in an environment that supports both innovation and economic freedom.

Business

PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status

Published

4 days ago

April 24, 2026

Sahara Weekly

***PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status**

To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.

UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.

In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.

Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.

We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.

Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.

Thank you.

Business

Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

Published

4 days ago

April 24, 2026

Sahara Weekly

Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”

Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.

The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.

This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.

Speaking on the collaboration, the Laffmattazz team stated:

“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”

As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.

With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.

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About Laffmattazz

Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.

About First Bank of Nigeria Limited

First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.