Nigerian Exchange Group Plc reinforces its commitment to accelerating market development, deepening product innovation, and embedding sustainability across Nigeria’s capital markets.
This follows the release of its full-year 2025 audited financial results, which show that NGX Group posted double-digit revenue growth, improved operating margins, stronger liquidity and a reinforced balance sheet, underscoring earnings resilience amid a challenging macroeconomic environment.
Reflecting improved profitability and capital strength, the Board declared a 50 percent year-on-year (YoY) increase in total dividend and approved a 1-for-3 bonus share issue.
While the Group delivered strong financial performance for the year ended December 31, 2025, management emphasises that the results primarily reflect the execution of a broader transformation agenda focused on long-term value creation and structural market growth.
NGX Group continues to prioritise liquidity development, the introduction of innovative market instruments, and the strengthening of market infrastructure and technology. These initiatives are designed to expand participation, enhance efficiency, and position Nigeria’s capital markets for greater resilience and global competitiveness.
Umaru Kwairanga, chairman, Nigerian Exchange Group Plc, said: “Our focus remains on building a market infrastructure institution that delivers sustainable value beyond financial metrics. We are committed to responsible capital allocation, high standards of corporate governance, and strengthening the role of the capital market in national development. Our capital strength enables us to invest confidently in innovation and long-term market expansion.”
Strengthening the Group’s enterprise strategic function…
A key pillar of this next phase of growth is the strengthening of the Group’s enterprise strategy function under the leadership of the newly appointed Group Chief Strategy Officer, Jumoke Olaniyan. Her mandate includes driving disciplined strategy execution, deepening liquidity across asset classes, expanding product innovation, and enhancing stakeholder engagement across the Group’s platforms.
The elevation of this strategic function also reflects NGX Group’s continued commitment to diversity, equity and inclusion, ensuring that leadership across the organisation remains reflective, inclusive, and aligned with global best practices.
Temi Popoola, group managing director and Chief Executive Officer, Nigerian Exchange Group Plc, added: “We are deliberately positioning NGX Group as a forward-looking, sustainability-aligned market infrastructure group. The progress we have recorded is not incidental; it reflects structural improvements in product development, liquidity expansion, governance standards, and technology enhancement. Our objective is clear: to build a deeper, more inclusive and globally competitive capital market that supports long-term economic growth.”
With strengthened capital flexibility and diversified revenue streams, NGX Group is well positioned to support sustainable capital formation, attract new listings, broaden investor participation, and enhance market integrity.
Through disciplined execution, innovation-led strategy, and a clear sustainability orientation, NGX Group continues to shape a more resilient and inclusive capital market ecosystem, reinforcing its role as a catalyst for economic transformation.
Impressive FY’25 results…
In the financial year ended December 31, 2025, NGX Group recorded core revenue growth of 36 percent to N22.9 billion (FY 2024: N16.9 billion); operating profit increased by 44.4 percent to N11.8 billion; Profit Before Tax of N15.6 billion represents an increase from N13.6billion in 2024. Earnings per share of N4.75 was also recorded.
Year-on-year reduction in total expenses…
Revenue expansion was driven by sustained growth across core business segments, improved customer penetration on the back of increased investor activity and rising investor confidence. Finance costs reduced by 67 percent following significant deleveraging of the Group’s balance sheet.
With improved liquidity, a strengthened capital base, and diversified revenue streams, NGX Group remains well-positioned to sustain its growth trajectory and deliver long-term value to shareholders and stakeholders alike.
Balance sheet strengthens…
As at December 31, 2025, NGX Group maintained a strong financial position: Total assets increased to N71 billion (FY 2024: N68 billion); while shareholders’ equity strengthened to N55.2 billion. The improved debt-to-equity position reflects a conservative capital structure, enhanced solvency profile, and strong retained earnings growth.
Enhanced shareholder returns…
The Board approved a final cash dividend of N2 per ordinary share, bringing the total dividend for FY 2025 to N3 per share, a 50 percent increase year-on-year.
In addition, shareholders will receive one (1) new ordinary share for every three (3) shares held, with a qualification date of April 10, 2026. The combined dividend increase and bonus issue reflect balanced capital allocation, rewarding shareholders while maintaining financial flexibility to support strategic growth initiatives.
Leadership commentary on the financials…
“Our 2025 performance demonstrates the resilience of our business model and the effectiveness of disciplined strategic execution. Strong revenue growth, improved operating margins and a strengthened balance sheet reinforce our commitment to delivering sustainable long-term shareholder value,” Kwairanga said.
He added, “The increased dividend and bonus issue reflect the Board’s confidence in the sustainability of our earnings and the robustness of our capital position as we continue to deepen Nigeria’s capital markets. We are confident that the momentum that we have built in 2025 will be sustained, given investor confidence in the Nigerian capital market and a pipeline of exciting new listings that will broaden and deepen the market.
Popoola said, “We delivered strong top-line growth and enhanced profitability in 2025 despite macroeconomic headwinds. Our 36 percent core revenue growth, improved operating efficiency and successful deleveraging have strengthened our capital base and financial flexibility, supporting the increased dividend and bonus issuance.
“As regulatory standards evolve, including the recent upward review of minimum capital requirements by the Securities and Exchange Commission (SEC), our robust balance sheet positions us to meet new thresholds seamlessly while continuing to invest in liquidity expansion, product innovation and market infrastructure to build a resilient, globally competitive exchange group,” he added.
