NGX Group Revenue More Than Doubles in Q1 on Surge in Trading Activity

Nigerian Exchange Group Plc has recorded a strong start to 2026, with first-quarter revenue more than doubling to N7.22bn from N3.56bn in the same period a year earlier, driven by increased trading activity and higher investment income.

Profit after tax rose 94 per cent to N4.09bn, while pretax profit advanced to N5.98bn from N2.49bn in the corresponding period of 2025. Operating profit also climbed to N3.95bn from N2.15bn, while total income grew to N7.8bn from N4.58bn, supported by a jump in income from equity-accounted investees, which rose to N2.03bn from N593.6m.

The stronger earnings came despite rising costs, with personnel expenses up about 51 per cent to N1.85bn and other operating expenses climbing 67 per cent to N1.8bn.

The results reflect a broader upturn in Nigeria’s equities market. Domestic institutional investors increased participation amid easing foreign-exchange volatility and expectations of improved macroeconomic stability. The exchange crossed a market capitalisation milestone of N100tn in January 2026.

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Several policy reforms have underpinned the market’s revival. The Investment and Securities Act 2025, signed on March 31 last year, replaced the 2007 legislation and expanded the powers of the Securities and Exchange Commission over digital assets, commodities trading and derivatives markets. The law also introduced tougher penalties for Ponzi schemes, including fines of up to N20m and prison terms of as much as 10 years.

Banking sector recapitalisation has also helped fuel market activity. By the March 2026 deadline, most banks had completed recapitalisation exercises that collectively raised more than N4tn from domestic and foreign investors, helping to drive liquidity into the equities market.