Nigerian Exchange Group Plc (NGX Group) has reported an 83.3 per cent increase in profit before tax to N20.6 billion for the nine months ended September 30, 2026, up from N11.2 billion recorded in the corresponding period of 2025.
Profit after tax rose by 86.4 per cent to N14.7 billion, exceeding the Group’s full-year 2025 profit after tax of N10.5 billion by 40 per cent, according to results released on October 27, 2026.
Gross earnings increased by 64.8 per cent to N29.6 billion from N17.9 billion, while revenue grew by 79.8 per cent to N27.3 billion from N15.2 billion.
Transaction fees, the Group’s major revenue driver, more than doubled by 112.4 per cent to N20.7 billion from N9.7 billion. Listing fees also rose by 24.4 per cent to N3.7 billion, reflecting increased capital-raising activities and new market admissions.
NGX Group attributed the performance to growing investor participation, particularly retail investors using digital self-service platforms, alongside increased trading activity and a deeper capital market.
Group Managing Director and Chief Executive Officer, Temi Popoola, said the expanding investor base had significantly boosted transaction revenue and created wealth for investors.
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As of September 30, 2026, the NGX All-Share Index had gained 61.43 per cent year-to-date, while equity market capitalisation climbed by 64.12 per cent from N99.38 trillion at the end of December 2025 to N163.10 trillion.
The increase represented N63.72 trillion in additional market value for listed equities held by individual investors, pension funds and institutional investors.
Operating profit rose by 73.5 per cent to N14.9 billion, while the cost-to-income ratio improved to 49.7 per cent from 52.3 per cent, as income growth outpaced operating expenses.
Operating expenses increased to N14.7 billion from N9.4 billion, which the Group attributed to investments in technology, talent, market surveillance, infrastructure, investor engagement and strategic partnerships.
As of September 30, 2026, total assets stood at N79.1 billion, while shareholders’ equity reached N61.1 billion. Earnings per share rose to N5.33 from N2.68 in the corresponding period of 2025, adjusted for the bonus issue.
Group Chairman, Umaru Kwairanga, said the results reflected the benefits of effective governance and strategic investments as Nigeria’s capital market expands.
He said the Group would continue to support market development through new products, increased listings and broader investor participation while maintaining disciplined cost management.
Popoola added that NGX Group would sustain investments in technology, infrastructure, market data and digital access to accommodate rising investor participation and strengthen partnerships across Africa.
