Nigerian Stock Exchange Sees Significant Gains in 2024
The Nigerian Exchange Ltd. (NGX) has reported a substantial increase in dividends declared by listed companies, with a total of N1.1 trillion paid out to shareholders in 2024. According to Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), N1 trillion has already been disbursed to shareholders, indicating a significant improvement in market confidence and investor returns.
The SEC approved a total of N3.68 trillion in new issues between January and December 2024, comprising N59.82 billion in fixed income issuances and N3.62 trillion in equities. This reflects a strong appetite from investors and confidence in the equity segment of the market. Furthermore, between January and April 2025, the commission approved new issues valued at approximately N446.38 billion, with N265.90 billion raised through fixed income instruments and N180.48 billion mobilized via equities.
In terms of mergers and acquisitions, the SEC approved 11 transactions in 2024, with an aggregate value of N320.36 billion. Notably, the acquisition of a 58.02% equity stake in Guinness Nigeria Plc by N Seven Nigeria Ltd., valued at over N103.7 billion, was one of the largest transactions. Additionally, there were three corporate restructuring transactions, two share capital reconstructions, one takeover, and four registrations of securities.
The commission also reported that it had approved three major transactions year-to-date, worth N38.53 billion, including two takeovers and one corporate restructuring. While no mergers have been recorded in the review period, the pace of market activity remains steady, with continued interest in strategic consolidation and reorganization across key sectors.
The collective investment schemes also saw significant growth, with a combined net asset value of N3.84 trillion as of the fourth quarter of 2024. Registered mutual funds reached 184 in number, with a combined net asset value of N3.84 trillion and over 800,000 unitholders. Privately managed portfolios and products grew to 444 vehicles, with assets under management totaling N4.69 trillion. In aggregate, 82 active asset management firms oversee N8.53 trillion in investments, reflecting a maturing market where professional fund management is increasingly recognized as a critical driver of capital formation and wealth creation.
Overall, the Nigerian Exchange Ltd. has demonstrated sustained activity, with issuers continuing to leverage both debt and equity segments to finance growth and investment. The significant increase in dividends and the growth of collective investment schemes are indicative of a positive trend in the market, with improved confidence and returns for investors.
