NGX Plans New Platforms To Improve Market Accessibility, Attract Investors.

…Approves N4.4bn Dividend As Profit Rises By 157.3

The Nigerian Exchange Group Plc (NGX Group) has announced its audited financial results for the year ended 31 December, with a 157.3 per cent increase in profit before tax to N13.6bn.

According to the group, the growth, driven by revenue expansion, strategic cost optimization, and increased market participation, highlights the Group’s financial strength and market resilience.

Following the results, the Board of Directors has approved a final dividend of N4.4bn, the highest in the Group’s history, translating to N2.00 per share. This move highlights NGX Group’s commitment to delivering shareholder value while maintaining a strong capital position.

Gross earnings surged by 103.2 per cent to N24.0bn in 2024, up from N11.8bn in the previous year. This growth was fueled by significant gains across multiple revenue streams: transaction fees rose by 64.0 per cent, listing fees soared by 397.1 per cent, technology-related income increased by 105 per cent, other fees grew by 174.8 per cent, treasury investment income climbed by 45.6 per cent, and market data revenue doubled by 100.5 per cent.

Additionally, other income surged by 102.6 per cent, accounting for 29.6 per cent of gross earnings, reflecting the Group’s diversified revenue base.

Speaking on the results, Group Chairman of NGX Group, Alhaji Dr. Umaru Kwairanga, described the financial performance as a defining moment in the Group’s post-demutualization journey.

“These results reinforce investor confidence in our long-term vision. The approval of a record N4.4bn dividend demonstrates our unwavering commitment to rewarding shareholders while positioning NGX Group as a key driver of capital market development,” Kwairanga said.

He emphasized the Group’s dedication to strengthening market infrastructure and fostering innovation for long-term value creation.

Group Managing Director and Chief Executive Officer, Mr. Temi Popoola, attributed the company’s performance to a clear execution strategy, operational efficiency, and innovation.

“The 157.3 per cent increase in profit before tax underscores the strength of our execution strategy and the dedication of our team. By leveraging technology, expanding market data solutions, and strengthening our partnerships, we have built a more resilient and diversified business model,” Popoola stated.

NGX Group’s strategic initiatives contributed to its outstanding performance in 2024, including the launch of NGX Invest, which facilitated N1.845tn in capital raises for the banking sector, and a strategic investment in the Ethiopian Securities Exchange (ESX), expanding the Group’s regional footprint. Additionally, workforce optimization and operational efficiency measures enhanced cost management and productivity.

Looking ahead, NGX Group said it remains committed to deepening market participation, broadening investment opportunities, and driving efficiency across the capital market ecosystem.

Popoola affirmed that the Group will continue investing in innovation, enhancing market infrastructure, and developing new platforms to improve market accessibility and attract a broader range of investors.

“With a strong capital base, diversified revenue streams, and a focus on innovation, NGX Group is well-positioned to drive capital market development in Nigeria and across Africa. By continuously enhancing market infrastructure, expanding investment opportunities, and promoting financial inclusion, the Group aims to solidify its role as a key enabler of economic growth and prosperity,” he said.

NGX Plans New Platforms To Improve Market Accessibility, Attract Investors. is first published on The Whistler Newspaper