The Nigerian Exchange Group Plc (NGX Group) has delivered a financial performance that resounds across the nation’s capital markets, reporting a staggering 157.3% year-on-year increase in profit before tax (PBT), reaching N13.6 billion for the year ended December 31, 2024. This monumental achievement, coupled with the announcement of a record-breaking N2.00 per share dividend, or a total of N4.4 billion, marks a watershed moment for the company and its stakeholders.
“These results mark a pivotal moment in NGX Group’s post-demutualisation growth journey, reinforcing investor confidence in our long-term vision,” stated Alhaji Dr. Umaru Kwairanga, Group Chairman of NGX Group. The numbers speak for themselves: gross earnings surged by 103.2% to N24.0 billion, fueled by significant growth across all key revenue streams. Transaction fees, listing fees, technology-related income, and market data revenue all experienced substantial increases, demonstrating the Group’s diversified and robust business model.
“The NGX Group under my leadership is focused on harnessing the entrepreneurial and innovative spirit of Nigeria’s private sector to drive the economy to greater heights,” Kwairanga added. This vision resonates with the broader narrative of Nigeria’s economic aspirations, where the capital market plays a crucial role in driving growth and attracting investment.
As someone who has observed the ebb and flow of financial markets for years, I understand that such exponential growth isn’t merely about numbers. It reflects a strategic blend of innovation and operational efficiency. The launch of NGX Invest, facilitating N1.845 trillion in capital raises for the banking sector, alongside the strategic investment in the Ethiopian Securities Exchange (ESX), highlights the Group’s commitment to regional expansion and market deepening.
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Temi Popoola, Group Managing Director/Chief Executive Officer, attributed the success to “strategic focus on execution, operational excellence, and innovation.” He emphasized the importance of technology, market data solutions, and strategic partnerships in building a resilient business model. “Looking ahead, we remain committed to deepening market participation, broadening investment opportunities, and driving efficiency across the capital market ecosystem,” Popoola stated.
From an objective angle, this financial triumph translates to tangible benefits for investors and the broader economy. The record dividend payout underscores NGX Group’s commitment to shareholder value, while the increased market participation and capital raising activities contribute to job creation and economic growth. For many Nigerians, the stock market represents an avenue for wealth creation and financial security. When a major player like NGX Group succeeds, it instills confidence and encourages greater participation.
The implications are clear: a thriving capital market is essential for Nigeria’s economic diversification and sustainable development. NGX Group’s performance in 2024 demonstrates that strategic investment, innovation, and a commitment to operational excellence can yield remarkable results. As the Group continues to expand its footprint and enhance its market infrastructure, it is poised to play a pivotal role in shaping Africa’s financial landscape.
In a world where economic uncertainty often prevails, NGX Group’s performance offers a beacon of hope, showcasing the potential for growth and prosperity in the Nigerian market.
