NGX Group profit jumps 83% to N20.6bn in nine months

By Diden Abigail Owuntarose

The Nigerian Exchange Group (NGX Group) has recorded an 83.3 per cent increase in profit before tax to ₦20.6 billion for the nine months ended September 30, 2026, compared with ₦11.2 billion recorded in the corresponding period of 2025.

The Group’s unaudited financial results also showed that profit after tax rose by 86.4 per cent to ₦14.7 billion from ₦7.9 billion in the previous year.

The growth was largely driven by increased trading activities, higher transaction fees and wider participation by investors accessing the Nigerian capital market through digital platforms.

According to the financial report, transaction fees more than doubled by 112.4 per cent to ₦20.7 billion from ₦9.7 billion recorded in the corresponding period of 2025.

Revenue also increased by 79.8 per cent to ₦27.3 billion, compared with ₦15.2 billion in the previous year, while listing fees grew by 24.4 per cent to ₦3.7 billion from ₦3 billion.

Group Managing Director and Chief Executive Officer, Temi Popoola, attributed the performance partly to the growing number of Nigerians investing through digital platforms.

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He said the expansion in investor participation had significantly increased transaction revenue, adding that the Group was investing in technology, infrastructure and personnel to accommodate further growth in market activities.

The Group’s operating profit also increased by 73.5 per cent to ₦14.9 billion from ₦8.6 billion, while its operating expenses rose by 56.8 per cent to ₦14.7 billion.

Despite the increase in operating costs, the company’s cost-to-income ratio improved to 49.7 per cent from 52.3 per cent, indicating better cost efficiency during the period.

The strong performance also coincided with increased activity in the Nigerian equities market. The NGX All-Share Index gained 61.43 per cent between January and September 2026, while equity market capitalisation increased by 64.12 per cent to ₦163.10 trillion from ₦99.38 trillion at the end of December 2025.

Meanwhile, the Group’s share of profit from equity-accounted investments rose by 69.6 per cent to ₦5.7 billion, driven primarily by its investment in Central Securities Clearing System Plc.

As of September 30, 2026, NGX Group’s total assets stood at ₦79.1 billion, while shareholders’ equity was ₦61.1 billion.

Shareholders also received ₦8.2 billion in dividends during the period, representing an 86.7 per cent increase, alongside a one-for-three bonus share issue approved in April 2026.

Group Chairman, Umaru Kwairanga, said the company remained committed to expanding market participation, strengthening infrastructure and delivering value to shareholders.

He added that the Group would continue to invest in technology, market development and new products to support the growth of Nigeria’s capital market.