Dangote’s NASCON to drive growth in market share through product innovation

NIGERIA – NASCON Allied Industries Plc, a food processing company and subsidiary of Dangote Industries, is targeting to grow its more market share in Nigeria’s food sector through increased product range and innovation.

Speaking at the company’s annual general meeting, Executive Director, Commercial of NASCON, Fatima Aliko-Dangote, affirmed that the company will be introducing more products this year as part of strategies to meet the needs of its varied customer base.

The consumer goods company whose business include; production of seasonings, tomato paste, and vegetable oils, said that the strategy will also enable it to secure a bigger market after the successful launch of three new products in 2018.

In addition, Managing Director, NASCON, Paul Farrer said the company, having demonstrated its resilience in the challenging environment of 2018, is strongly focused on capacity growth and increased market penetration.

“We launched the Dangote Stew Mix, Dangote Curry and Dangote Classic seasoning. These three products are part of a wider product enrichment plan to diversify our product portfolio.

“The products were specifically developed to meet and surpass the needs of our consumers across the country. Each of these products has been tailored to suit the local taste and cooking habits of the different regions in Nigeria.

“We would continue to differentiate ourselves in our product category by consistently delivering high quality, nutritious products,” he said.

He disclosed that the company would be leveraging on a number of synergies including improved output in terms of quality, quantity and business efficiency to drive overall growth.

The company’s board had proposed a total dividend pay-out of US$7.36 million (N2.65 billion for the financial year ended December, 31, 2018, which shareholders of the company unanimously approved.

Olagoke Olusegun, a shareholder, noted that the synergy between the board and management has been able to drive growth in the company despite the harsh operating environment manufacturing companies faced in the year 2018.

NASCON Allied Industries Plc also engages in refining and selling edible, refined, bulk, and industrial salt to manufacturers in the confectioneries, seasonings, refined edible oil, processed leather, noodles, and oil industries.

The company was formerly known as National Salt Company of Nigeria Plc and changed its name to NASCON Allied Industries Plc in July 2015.

The company also sells salt, tomato paste, and vegetable oil under the Dangote; and seasonings under the Dan-Q brand names.

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