Nigerian Stock Exchange (NGX) 2024: A Year of Transformation and Milestones
Hello Stock Market Enthusiasts. The year 2024 was a landmark one for the Nigerian Stock Exchange (NGX), showcasing remarkable growth, strategic listings, record-breaking performances, and resilience amidst economic challenges. From major listings to awe-inspiring stock gains, the NGX demonstrated its position as a hub for investment opportunities in Africa.
Here’s a comprehensive look at Historical Events and Did You Know? facts that defined the NGX in 2024.
Historical Events
1. Record Market Growth
• The NGX All-Share Index (ASI) achieved an impressive 37.65% annual growth, continuing a five-year winning streak and setting a new benchmark for investor confidence.
• Market capitalization reached an all-time high of ₦62.76 trillion by December 31, 2024, compared to ₦40.91 trillion in 2023—a 53% surge.
2. Significant Listings
• Haldane McCall Plc: On November 20, 2024, this real estate and hospitality giant listed 3.12 billion ordinary shares at ₦3.84 per share, achieving a market cap of over ₦11.99 billion.
• Aradel Holdings Plc: Listed on October 14, 2024, with 4.34 billion shares priced at ₦702.69 each, contributing ₦3.05 trillion to the NGX market cap.
3. Major Capital Raises
• Nigerian Breweries Plc: In August 2024, raised approximately ₦548.6 billion through a rights issue of 22.6 billion shares at ₦26.50 each to address debt-related losses.
• Fidelity Bank Plc: Launched a ₦127.1 billion rights issue and public offer starting June 20, 2024, to meet the Central Bank of Nigeria’s (CBN) recapitalization deadline.
4. Sectoral Growth
• Banking sector recapitalization, increased crude oil revenues, and robust new listings drove market performance, reinforcing investor confidence.
Did You Know?
1. Top Performing Stock
• Juli Plc emerged as the best-performing stock of 2024, delivering an astounding 1,646% gain. The stock soared from ₦0.59 in January to ₦10.30 by year-end, reflecting consistent growth throughout the year.
2. Total Listings Value
• The NGX recorded ₦12.17 trillion in listings, driven by Federal Government Bonds and corporate issuances, emphasizing the market’s role in funding national development.
3. Diageo’s Exit from Guinness Nigeria
• Diageo divested its 58% stake in Guinness Nigeria to Tolaram for $70 million, showcasing strategic realignments by multinational corporations in Nigeria.
4. Surge in Trading Activity
• In September 2024, trading volumes surged, with transactions reaching ₦493.01 billion—a 66.67% increase year-on-year compared to September 2023.
5. Resilience Among African Markets
• The NGX ranked as the top-performing stock market in Africa during H1 2024, with a 35.17% gain over Q4 2023, outpacing regional peers.
Conclusion: A Year of Progress and Promise
The Nigerian Stock Exchange in 2024 exemplified growth, resilience, and innovation. From record market capitalization to groundbreaking listings and unparalleled stock performances, the NGX strengthened its position as a vital player in Africa’s financial landscape. As investors and stakeholders look ahead, the milestones of 2024 serve as a testament to the market’s potential and its role in driving economic transformation.
2024 on the NGX was not just a year—it was a movement!
Hello Stock Market Enthusiasts. The year 2024 was a landmark one for the Nigerian Stock Exchange (NGX), showcasing remarkable growth, strategic listings, record-breaking performances, and resilience amidst economic challenges. From major listings to awe-inspiring stock gains, the NGX demonstrated its position as a hub for investment opportunities in Africa.
Here’s a comprehensive look at Historical Events and Did You Know? facts that defined the NGX in 2024.
Historical Events
1. Record Market Growth
• The NGX All-Share Index (ASI) achieved an impressive 37.65% annual growth, continuing a five-year winning streak and setting a new benchmark for investor confidence.
• Market capitalization reached an all-time high of ₦62.76 trillion by December 31, 2024, compared to ₦40.91 trillion in 2023—a 53% surge.
2. Significant Listings
• Haldane McCall Plc: On November 20, 2024, this real estate and hospitality giant listed 3.12 billion ordinary shares at ₦3.84 per share, achieving a market cap of over ₦11.99 billion.
• Aradel Holdings Plc: Listed on October 14, 2024, with 4.34 billion shares priced at ₦702.69 each, contributing ₦3.05 trillion to the NGX market cap.
3. Major Capital Raises
• Nigerian Breweries Plc: In August 2024, raised approximately ₦548.6 billion through a rights issue of 22.6 billion shares at ₦26.50 each to address debt-related losses.
• Fidelity Bank Plc: Launched a ₦127.1 billion rights issue and public offer starting June 20, 2024, to meet the Central Bank of Nigeria’s (CBN) recapitalization deadline.
4. Sectoral Growth
• Banking sector recapitalization, increased crude oil revenues, and robust new listings drove market performance, reinforcing investor confidence.
Did You Know?
1. Top Performing Stock
• Juli Plc emerged as the best-performing stock of 2024, delivering an astounding 1,646% gain. The stock soared from ₦0.59 in January to ₦10.30 by year-end, reflecting consistent growth throughout the year.
2. Total Listings Value
• The NGX recorded ₦12.17 trillion in listings, driven by Federal Government Bonds and corporate issuances, emphasizing the market’s role in funding national development.
3. Diageo’s Exit from Guinness Nigeria
• Diageo divested its 58% stake in Guinness Nigeria to Tolaram for $70 million, showcasing strategic realignments by multinational corporations in Nigeria.
4. Surge in Trading Activity
• In September 2024, trading volumes surged, with transactions reaching ₦493.01 billion—a 66.67% increase year-on-year compared to September 2023.
5. Resilience Among African Markets
• The NGX ranked as the top-performing stock market in Africa during H1 2024, with a 35.17% gain over Q4 2023, outpacing regional peers.
Conclusion: A Year of Progress and Promise
The Nigerian Stock Exchange in 2024 exemplified growth, resilience, and innovation. From record market capitalization to groundbreaking listings and unparalleled stock performances, the NGX strengthened its position as a vital player in Africa’s financial landscape. As investors and stakeholders look ahead, the milestones of 2024 serve as a testament to the market’s potential and its role in driving economic transformation.
2024 on the NGX was not just a year—it was a movement!