As Nigeria’s capital market surged with renewed investor confidence, NGX Group closed 2024 on a historic high, delivering its strongest financial performance yet.
A record ₦13.6 billion profit before tax—up 157.3 per cent year-on-year—underscored the Group’s resilience and strategic expansion.
This strong performance has driven the Board of Directors to approve a record dividend payout of ₦4.4 billion (₦2 per share), marking the highest in the company’s history.
Meanwhile, the Group’s gross earnings skyrocketed by 103.2% to ₦24 billion, fueled by exceptional growth across multiple revenue streams.
Capital market activity surged, pushing listing fees up by 397.1%, while transaction fees climbed 64% due to increased trading volumes.
Additionally, the company’s investments in technology paid off, as technology-related income jumped by 105%, and market data revenue doubled with growing demand for financial insights.
Chairman’s Perspective: A Turning Point
Reflecting on these results, Chairman Umaru Kwairanga highlighted this performance as a turning point in NGX Group’s post-demutualisation journey.
He reaffirmed the company’s commitment to driving market innovation and delivering long-term value to investors.
Beyond financial success, NGX Group expanded its regional influence through a strategic investment in the Ethiopian Securities Exchange (ESX).
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At the same time, its NGX Invest initiative facilitated ₦1.845 trillion in capital raises for banks, significantly boosting market liquidity and investor participation.
Future Growth: A Vision For Innovation
Looking ahead, CEO Temi Popoola credited this remarkable achievement to the company’s operational efficiency, digital transformation, and diversified growth strategy.
He emphasised that NGX Group will continue enhancing market accessibility, deepening investor engagement, and driving innovation.
NGX Group Strengthening Leadership In Africa’s Capital Markets
With record-breaking financial results and bold strategic decisions, NGX Group is shaping the future of Nigeria’s capital markets and strengthening its leadership across Africa’s financial landscape.
