The synthesis of hitherto unreported 5‐amino‐7‐alkoxy‐2‐methyl‐2,4‐aryl‐1,2‐dihydro‐1,6‐naphthyridine‐8‐carbonitriles (4) was accomplished by a one‐pot pseudo five‐component reaction using aryl methyl ketones or alkyl methyl ketones, malononitrile, and alcohols in the presence of sodium hydroxide under reflux conditions. By following an identical reaction procedure, various 5‐amino‐2‐methyl‐2,4‐diaryl‐7‐(arylthio)‐1,2‐dihydro‐1,6‐naphthyridine‐8‐carbonitrile derivatives (6) were also synthesized from aryl methyl ketones, malononitrile, and thiophenols in the presence of sodium hydroxide in ethanol. High bond‐forming efficiency, good yields, and the use of a readily available base are some of the salient features of this multicomponent reaction.