NGX reports strong earnings growth, declares N3 dividend, bonus shares

The Nigerian Exchange Group Plc (NGX Group) has posted a resilient financial performance for the 2025 financial year, driven by higher investor participation and successful balance sheet management, according to its recently released audited results.

The exchange operator recorded a profit before tax of N15.6 billion, up 14.7 percent from N13.6 billion in 2024. Earnings per share rose 5.6 percent year-on-year to N4.75, underpinned by a 36 percent jump in core revenue to N22.9 billion and a sharp 67 percent reduction in finance costs, reflecting the Group’s deleveraging efforts.

Transaction fees continued to fuel growth, surging 91.4 percent year-on-year to N15.1 billion, and now accounting for nearly 66 percent of total revenue, up from 47 percent in 2024. The equities market’s heightened activity contributed significantly to this performance, offsetting declines in other income and investment returns from associates.

Operating efficiency improved as total expenses remained largely flat, with notable reductions in market development (-36%) and property-related costs (-43%). This drove EBIT margins up to 48 percent , reinforcing the Group’s profitability despite a N465 million net foreign exchange loss caused by Naira appreciation.

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On the balance sheet, total assets rose to N71 billion, while shareholders’ equity strengthened to N55.2 billion, reflecting improved retained earnings and a stronger capital base. Profitability ratios remained robust, with ROAA at 20.1 percent and ROAE at 26.9 percent, despite slight contractions from the previous year.

In a move to reward investors, the board approved a final dividend of N2.00 per share, bringing the total payout for 2025 to N3.00 per share, a 50 percent increase over 2024.

Additionally, a bonus issue of one new share for every three held was declared, with eligibility as of April 10, 2026.

Dr. Umaru Kwairanga, NGX chairman, said the results underscore the resilience of the Group’s business model and disciplined execution of its growth strategy. “Strong revenue growth, improved operating margins, and a strengthened balance sheet reinforce our commitment to delivering sustainable long-term shareholder value,” he said.

CEO, Mr Temi Popoola, highlighted that the exchange’s robust balance sheet positions it to meet evolving regulatory requirements and continue investing in liquidity expansion, product innovation, and market infrastructure, aiming to strengthen Nigeria’s capital market and position NGX as a globally competitive platform.

The results signal optimism for continued market growth, with a pipeline of new listings and rising investor confidence expected to sustain the positive