Nigerian Exchange Group Plc (NGX Group) has reported a strong ₦15.6 billion Profit Before Tax (PBT) for the 2025 financial year, reflecting robust revenue growth, improved operating efficiency, and a reinforced balance sheet. In line with its commitment to shareholder value, the Group’s Board announced a total dividend of ₦3.00 per share – up 50% year-on-year – alongside a 1-for-3 bonus share issuance.
The audited financial statements, approved at the Board meeting on 24 February 2026, underscore the resilience of NGX Group’s business model amid challenging macroeconomic conditions. The performance was driven by sustained investor activity, strong customer engagement, and operational discipline across all core business segments.
Financial Highlights
For FY 2025, NGX Group delivered:
Core revenue: ₦22.9 billion, up 36% from ₦16.9 billion in 2024
Operating profit: ₦11.8 billion, a 44.4% increase from the previous year
Profit Before Tax: ₦15.6 billion, compared to ₦13.6 billion in 2024
Earnings per share (EPS): ₦4.75
Finance costs: Reduced by 67% through strategic deleveraging
Operational efficiency: Total expenses declined year-on-year
The Group attributed the revenue growth to increased investor participation, heightened market confidence, and the expansion of its product offerings across equity, fixed income, and derivatives markets. The reduction in finance costs further strengthened profitability and demonstrated prudent financial management.
Strengthened Balance Sheet
NGX Group’s balance sheet showed notable improvements in 2025:
Total assets: ₦71.0 billion (FY 2024: ₦68.0 billion)
Shareholders’ equity: ₦55.2 billion
The strengthened debt-to-equity ratio reflects a conservative capital structure and enhanced solvency, positioning NGX to meet regulatory requirements while supporting long-term strategic initiatives.
Shareholder Returns and Bonus Issue
Acting Company Secretary, Izuchukwu Akpa, explained, “The Board approved a final cash dividend of ₦2.00 per ordinary share, bringing the total dividend for FY 2025 to ₦3.00 per share – a 50% increase year-on-year. Additionally, shareholders will receive one new ordinary share for every three shares held, with a qualification date of 10 April 2026. This combination of dividend and bonus share issuance ensures a balanced approach to rewarding investors while maintaining financial flexibility for growth initiatives.”
Leadership Commentary
Alhaji (Dr.) Umaru Kwairanga, Group Chairman, said, “Our 2025 results demonstrate the resilience of our business model and the effectiveness of disciplined strategic execution. Strong revenue growth, improved operating margins, and a reinforced balance sheet reflect our commitment to sustainable long-term shareholder value. The increased dividend and bonus issue are a vote of confidence in the sustainability of our earnings and the robustness of our capital position as we continue to deepen Nigeria’s capital markets.”
Group Managing Director and CEO, Mr. Temi Popoola, added, “Despite macroeconomic headwinds, NGX delivered strong top-line growth and enhanced profitability in 2025. Our 36% revenue growth, improved operational efficiency, and successful deleveraging have strengthened our capital base, supporting the increased dividend and bonus issuance. With evolving regulatory standards, including the recent upward review of minimum capital requirements by the Securities and Exchange Commission (SEC), we are well-positioned to meet new thresholds while continuing to invest in liquidity, product innovation, and market infrastructure.”
Outlook
With a diversified revenue base, enhanced liquidity, and a robust capital position, NGX Group is well-positioned to sustain its growth trajectory and deliver long-term value to shareholders and market stakeholders. The Group remains focused on expanding investor participation, attracting new listings, and strengthening Nigeria’s capital markets.
NGX Group reports ₦15.6 billion Profit Before Tax for FY 2025, declares ₦3.00 dividend and 1-for-3 bonus shares as revenue grows 36% and operating efficiency improves.
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