Key takeaways
Revenue: +118% YoY
Transaction fees: +169% YoY (strongest growth driver)
Operating profit: +155% YoY
Profit before tax: +170% YoY (highest earnings growth)
Profit after tax: +146% YoY
Share of profit from investees: +130% YoY
Interim dividend declared: ₦1.30 per ordinary share.
MON JULY 27 2026-theGBJournal| Nigerian Exchange Group (NGX Group) has rewarded shareholders with its first interim dividend of ₦1.30 per share after posting record earnings for the first half of 2026, underlining the strength of Nigeria’s resurgent capital market.
The exchange operator more than doubled revenue and nearly tripled pre-tax profit as elevated trading volumes, stronger listing activity and rising contributions from strategic investments boosted earnings, reinforcing investor confidence in the sustainability of the market rally.
The dividend signals the Board’s confidence in the Group’s earnings outlook and cash-generating capacity while maintaining room for continued investment in market infrastructure, technology and strategic growth initiatives.
The capital market infrastructure group reported revenue of ₦17.60 billion during the period, more than doubling from ₦8.08 billion a year earlier, while total income rose 96% to ₦19.34 billion.
The performance was driven largely by a sharp increase in trading activity on the Nigerian Exchange.
Transaction fee income jumped 169% to ₦13.34 billion from ₦4.96 billion in the corresponding period of 2025.
Listing fees rose 59% to ₦2.38 billion, while technology income increased 19% to ₦447.86 million.
Higher income growth significantly outpaced operating costs, pushing operating profit up 155% to ₦10.62 billion from ₦4.16 billion a year earlier.
NGX Group also benefited from stronger earnings from its investment portfolio.
Share of profit from equity-accounted investees climbed 130% to ₦4.14 billion, supported primarily by the robust performance of Central Securities Clearing System Plc (CSCS).
As a result, profit before tax surged 170% to ₦14.76 billion from ₦5.46 billion in the first half of 2025, while profit after tax rose 146% to ₦10.36 billion from ₦4.22 billion.
The Group also strengthened its financial position, with total assets increasing to ₦75.87 billion at the end of June, while shareholders’ equity expanded to ₦60.49 billion from ₦55.20 billion at the close of 2025.
Chairman of NGX Group, Umaru Kwairanga, said the interim dividend reflected both the strength of the company’s financial performance and confidence in its long-term growth strategy.
“The Board’s approval of an interim dividend of ₦1.30 per ordinary share reflects the strength of NGX Group’s first-half performance and our confidence in the Group’s long-term prospects,” Kwairanga said.
He added that the Board remained committed to balancing shareholder returns with continued investment in technology, market infrastructure and strategic initiatives aimed at deepening Nigeria’s capital market.
Group Managing Director and Chief Executive Officer, Temi Popoola, said the results demonstrated the scalability of the Group’s business model and its ability to convert stronger market activity into higher profitability.
“Revenue growth was supported by significantly higher transaction activity, increased listing income and stronger contributions from our investee companies, while disciplined execution enabled us to translate this growth into substantially improved profitability,” Popoola said.
He said NGX Group would continue to focus on expanding market liquidity, attracting more investors, developing technology-enabled products and diversifying its financial market infrastructure business.
“The ₦1.30 interim dividend reflects both the progress made and our confidence in the Group’s capacity to deliver sustainable long-term value,” he added.
The qualification date, register closure period and payment date for the interim dividend will be announced in line with the company’s approved corporate action timetable and regulatory requirements.
Market Insight
The results underscore the continued momentum in Nigeria’s equities market, where increased investor participation, stronger trading volumes and a revival in primary market activity have translated into robust earnings for the country’s exchange operator.
The sharp rise in transaction fees highlights the extent to which NGX Group is benefiting from heightened market liquidity, while growing contributions from investee companies provide an additional earnings buffer that could support future dividend growth even if trading activity moderates.
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