Nigerian Exchange Group Plc (NGX Group) has released its audited financial results for the year ended December 31, 2024.

It delivered a record-breaking profit before tax (PBT) of N13.6 billion, marking an impressive 157.3 percent year-on-year (YoY) growth.

Declares highest dividend in its history…

In recognition of this exceptional performance, the Board of Directors has approved a final dividend of N4.4 billion, translating to N2 per share, the highest dividend payout in the Group’s history.

This decision reaffirms NGX Group’s commitment to delivering value to shareholders while maintaining a strong capital position.

The Group’s gross earnings surged by 103.2 percent to N24 billion in FY 2024, up from N11.8 billion in the previous year, propelled by significant growth across key revenue streams.

For instance, transaction fees rose 64 percent, driven by heightened market activity. Listing fees increased by 397.1 percent, reflecting stronger capital market participation.

Technology related income grew by 105 percent, reflecting the success of the group’s digital transformation efforts
Other fees recorded a 174.8 percent growth, reinforcing the Group’s diversified revenue base.

Treasury investment income climbed 45.6 percent, highlighting NGX Group’s effective asset management. Market data revenue grew by 100.5 percent, contributing to a 102.6 percent rise in other income,
which now accounts for 29.6 percent of gross earnings.

NGX Group said its strong performance in year 2024 was driven by robust revenue expansion, strategic cost optimisation, and increased market participation, reflecting the Group’s resilience and financial strength.

Speaking on the results, Umaru Kwairanga,
Group Chairman, NGX Group stated: “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 N4.4 billion dividend demonstrates our unwavering commitment to rewarding shareholders while positioning NGX Group as a key driver of capital market development. As we continue to invest in market infrastructure and innovation, we remain focused on creating sustainable value for all stakeholders”.

“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”.

NGX Group’s outstanding financial performance in 2024 reflects the success of its strategic expansion and innovation agenda.

These include: the launch of NGX Invest, which has facilitated N1.845 trillion in capital raises for the banking sector, enhancing liquidity and investor participation; expansion into new markets, marked by a strategic investment in the Ethiopian Securities Exchange (ESX), reinforcing the Group’s regional footprint; and workforce optimisation and operational efficiency initiatives, leading to improved cost
management and productivity.

Temi Popoola, Group Managing Director/Chief Executive Officer, said: “NGX
Group’s remarkable performance in 2024 reflects our strategic focus on execution, operational excellence, and innovation.

“The 157.3 percent 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 that positions us for sustained growth”.

“Looking ahead, we remain committed to deepening market participation, broadening
investment opportunities, and driving efficiency across the capital market ecosystem.

“We will continue investing in innovation, enhancing market infrastructure, and developing new platforms that improve accessibility and attract a wider range of investors. Through these efforts, we are
shaping NGX Group into a leading force in Africa’s financial landscape, delivering sustainable value for all stakeholders,” he added.