NGX Group Reports 157.3% Surge in Profit Before Tax to N13.6bn in 2024

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• Board Approves Record N4.4bn Dividend for Shareholders

Nigerian Exchange Group Plc (NGX Group or the Company) has announced its audited financial results for the year ended 31 December 2024, delivering a record-breaking profit before tax (PBT) of N13.6 billion, marking an impressive 157.3% year-on year growth.

This strong performance was driven by robust revenue expansion, strategic cost optimization, and increased market participation, reflecting the Group’s resilience and financial strength.

The Group’s gross earnings surged by 103.2% to N24.0 billion in FY 2024, up from N11.8 billion in the previous year, propelled by significant growth across key revenue streams.

The result showed that NGX Group’s Transaction fees rose 64.0 per cent, driven by heightened market activity, listing fees increased by 397.1 percent, reflecting stronger capital market participation, while Technology related income grew by 105 percent, reflecting the success of the group’s digital transformation efforts.

Also, other fees recorded a 174.8 per cent growth, reinforcing the Group’s diversified revenue base, Treasury investment income climbed 45.6 per cent, highlighting NGX Group’s effective asset management while Market data revenue grew by 100.5 per cent, contributing to a 102.6 per cent rise in other income, which now accounts for 29.6 per cent of gross earnings.

NGX Group 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 N2.00 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.

Speaking on the results, Group Chairman, NGX Group, Alhaji Dr. Umaru Kwairanga 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”.