Industrial and Medical Gases Nigeria Plc has appointed Aminu Ado as its substantive chairman.

The appointment was disclosed in a corporate filing with the Nigerian Exchange Limited stating that the decision was taken at its board meeting held on June 27.

Ado was confirmed as the substantive Chairman after acting in this capacity since July 2022.

Ado’s profile indicated that he holds a B.Sc. degree in Business Administration from Ahmadu Bello University Zaria where he specialised in Actuarial Science and graduated with a Second-Class Upper Division. He is a Member and a Fellow of the Association of Chartered Certified Accountants, United Kingdom, a member of the Chartered Institute of Taxation of Nigeria, a member of the Nigerian Institute of Management and an Associate Member of the Institute of Directors. He is currently the Managing Director of TY Holdings Limited, and he serves as a non-executive Director on the Board of Unitrust Insurance Company Ltd.

Meanwhile, IMG saw its total revenue grow to N6.06bn at the end of 2023 from  N5.33bn realized in 2022. The year’s profit after tax rose to N850m from N440bn.

The total comprehensive income jumped by 295 per cent, from N215.97m in 2019 to N852. 75m in 2023, while Earnings Per Share rose steadily from 52 kobo to N1.71.

The company declared a dividend of 50 kobo per share for its 2023 financial performance, totalling N249.47m which was approved by shareholders at its last Annual General Meeting.