NGX Group’s Profit Surges 157% to ₦13.6 Billion Amid Strategic Expansion and Cost Efficiency
The Nigerian Exchange Group Plc (NGX Group) has reported a remarkable financial performance for the year ended December 31, 2024, with profit before tax (PBT) soaring to ₦13.6 billion, a 157.3% increase from the ₦5.27 billion recorded in 2023.
This outstanding result was driven by robust revenue growth, strategic cost optimisation, and increased market participation, reinforcing NGX Group’s resilience and financial strength.
Key Financial Highlights
• Gross Earnings: ₦24 billion, up 103.2% from ₦11.8 billion in 2023.
• Transaction Fees: Increased by 64%, reflecting heightened market activity.
• Listing Fees: Surged 397.1%, indicating stronger capital market participation.
• Technology-Related Income: Rose 105%, showcasing the success of digital transformation efforts.
• Other Fees: Increased by 174.8%, diversifying revenue streams.
As a result of this strong financial performance, the Board of Directors has approved a record ₦4.4 billion final dividend, translating to ₦2.00 per share, marking the highest dividend payout in NGX Group’s history.
Leadership Reactions
Dr. Umaru Kwairanga, Chairman, NGX Group:
“These results mark a pivotal moment in NGX Group’s post-demutualisation growth journey, reinforcing investor confidence in our long-term vision. The approval of a record ₦4.4 billion dividend demonstrates our unwavering commitment to rewarding shareholders while positioning NGX Group as a key driver of capital market development.”
He further emphasised NGX’s commitment to investing in market infrastructure and innovation, ensuring long-term sustainable value for stakeholders.
Temi Popoola, Group Managing Director/CEO, NGX Group:
“The 157.3% 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 partnerships, we have built a resilient and diversified business model positioned for sustained growth.”
Popoola outlined NGX Group’s strategic priorities for 2025, including:
• Deepening market participation and expanding investment opportunities.
• Enhancing market infrastructure and digital platforms.
• Broadening investor engagement through innovation and accessibility.
Strategic Growth and Market Expansion
NGX Group’s stellar financial performance reflects the success of its expansion and innovation agenda, including:
• Launch of NGX Invest, which facilitated ₦1.845 trillion in capital raises for the banking sector, boosting liquidity and investor participation.
• Expansion into new markets, with a strategic investment in the Ethiopian Securities Exchange (ESX), strengthening NGX’s regional footprint.
• Workforce optimisation and operational efficiency, improving cost management and productivity.
With these initiatives, NGX Group continues to solidify its position as a leading force in Africa’s financial landscape, delivering long-term value to investors and stakeholders.
Looking Ahead
As NGX Group enters 2025, its commitment to innovation, efficiency, and market expansion will drive continued growth. With record-breaking profits and dividends, the Group is well-positioned to maintain its leadership in Nigeria’s capital market while advancing its regional and global ambitions.
The Nigerian Exchange Group Plc (NGX Group) has reported a remarkable financial performance for the year ended December 31, 2024, with profit before tax (PBT) soaring to ₦13.6 billion, a 157.3% increase from the ₦5.27 billion recorded in 2023.
This outstanding result was driven by robust revenue growth, strategic cost optimisation, and increased market participation, reinforcing NGX Group’s resilience and financial strength.
Key Financial Highlights
• Gross Earnings: ₦24 billion, up 103.2% from ₦11.8 billion in 2023.
• Transaction Fees: Increased by 64%, reflecting heightened market activity.
• Listing Fees: Surged 397.1%, indicating stronger capital market participation.
• Technology-Related Income: Rose 105%, showcasing the success of digital transformation efforts.
• Other Fees: Increased by 174.8%, diversifying revenue streams.
As a result of this strong financial performance, the Board of Directors has approved a record ₦4.4 billion final dividend, translating to ₦2.00 per share, marking the highest dividend payout in NGX Group’s history.
Leadership Reactions
Dr. Umaru Kwairanga, Chairman, NGX Group:
“These results mark a pivotal moment in NGX Group’s post-demutualisation growth journey, reinforcing investor confidence in our long-term vision. The approval of a record ₦4.4 billion dividend demonstrates our unwavering commitment to rewarding shareholders while positioning NGX Group as a key driver of capital market development.”
He further emphasised NGX’s commitment to investing in market infrastructure and innovation, ensuring long-term sustainable value for stakeholders.
Temi Popoola, Group Managing Director/CEO, NGX Group:
“The 157.3% 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 partnerships, we have built a resilient and diversified business model positioned for sustained growth.”
Popoola outlined NGX Group’s strategic priorities for 2025, including:
• Deepening market participation and expanding investment opportunities.
• Enhancing market infrastructure and digital platforms.
• Broadening investor engagement through innovation and accessibility.
Strategic Growth and Market Expansion
NGX Group’s stellar financial performance reflects the success of its expansion and innovation agenda, including:
• Launch of NGX Invest, which facilitated ₦1.845 trillion in capital raises for the banking sector, boosting liquidity and investor participation.
• Expansion into new markets, with a strategic investment in the Ethiopian Securities Exchange (ESX), strengthening NGX’s regional footprint.
• Workforce optimisation and operational efficiency, improving cost management and productivity.
With these initiatives, NGX Group continues to solidify its position as a leading force in Africa’s financial landscape, delivering long-term value to investors and stakeholders.
Looking Ahead
As NGX Group enters 2025, its commitment to innovation, efficiency, and market expansion will drive continued growth. With record-breaking profits and dividends, the Group is well-positioned to maintain its leadership in Nigeria’s capital market while advancing its regional and global ambitions.