Responding, the acting Managing Director, NASCON, Mr. Thabo Mabe said the company is not resting on its achievements but is moving from street to street, market to market and shop to shop, introducing its array of products to consumers. He said that as a company in the fast-moving consumer goods sector, the management team has developed plans and strategies to capture more share in chosen markets and will gradually deploy them in the coming months.
A peep into NASCON’s annual report for 2021 indicated that profit before tax, rose from N3.9 billion to N4.3 billion while net profit was N2.97 billion.
National Salt Company of Nigeria (NACON) was established as a salt refinery at Ijoko, Ogun State in 1973, in a joint venture between the Federal Military Government of Nigeria and Atlantic Salt & Chemical Inc. of Los Angeles, California, USA.
The Company was privatised in 1991 with its shares listed on the Nigerian Stock Exchange in October 1992, through which Dangote Industries Limited purchased majority shares. Following the reverse takeover of NASCON by Dangote Salt Limited (DSL) in 2007, NASCON acquired the assets, liabilities and business undertakings of DSL.
Principal activities of the company include processing of raw salt into refined, edible and industrial salt. NASCON is also into the production of seasoning and vegetable oil.