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NASCON ready to drag market share with new products, says Fatima Dangote

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Rising from its latest Annual General Meeting (AGM), Executive Director, Fatima Aliko-Dangote, NASCON Allied Industries Plc, has assured of introducing more innovative cooking products to step up control of market share in the food sector.
She noted that the positive impacts of three products introduced last year are encouraging the group to do more this year in coming up with products that will meet the needs of its varied customer base.
Business Hilights gathered that the during the meeting shareholders approved a total dividend of N2.65 billion, culminating to N1.00 per 50 kobo share due to every investor of the firm for the 2018 financial year.
Earlier in his remarks, the Managing Director, NASCON Allied Industries Plc, Paul Farrer, disclosed that within the challenging year of 2018 till date, the company has demonstrated resilience in the harsh production environment of 2018, and is strongly focused on capacity growth and increased market penetration.
He said NASCON will leverage on a number of synergies, including improved output in terms of quality, quantity, and business efficiency to deliver value for all stakeholders.
According to him, “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 products 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. Shareholders at the meeting, approved a total applauded the board and management for enhancing their value on investment through robust dividend payout, amid harsh operating environment.
During shareholders comments, the Founder, Independence Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu, lauded the board and management for their ability to pay dividend despite the harsh operating environment occasioned by the consistent Apapa-Wharf traffic gridlock and the downturn in the economy.
Also, the President, Pragmatic Shareholders Association of Nigeria (PSAN), Mrs. Bisi Bakare, hailed NASCON over the quality of the product mix, which is garnering more market share, and lauded the dividend policy, plus its consistence in the last 11years.

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