Nigerian Listed Firms Declare ₦1.1T in Dividends for Full-Year 2024

BREAKING NEWSMay 27, 2025 at 12:35 PM UTC

TLDR

Companies listed on the Nigerian Exchange Limited (NGX) declared a total of ₦1.1 trillion (over $694 million) in dividends in 2024
SEC Director-General Dr. Emomotimi Agama said the payouts reflect stronger investor confidence and improved corporate performance
From January to April 2025, the SEC approved new issues worth ₦446.38 billion, comprising ₦265.90 billion in fixed income and ₦180.48 billion in equities

Companies listed on the Nigerian Exchange Limited (NGX) declared a total of ₦1.1 trillion (over $694 million) in dividends in 2024, with ₦1 trillion already paid to shareholders, according to the Securities and Exchange Commission (SEC).

SEC Director-General Dr. Emomotimi Agama said the payouts reflect stronger investor confidence and improved corporate performance. He added that the commission approved ₦3.68 trillion in new capital issues during 2024, with equities dominating at ₦3.62 trillion, and ₦59.82 billion in fixed income instruments.

From January to April 2025, the SEC approved new issues worth ₦446.38 billion, comprising ₦265.90 billion in fixed income and ₦180.48 billion in equities. On mergers and acquisitions, the SEC approved 11 transactions worth ₦320.36 billion in 2024, including the ₦103.7 billion acquisition of Guinness Nigeria Plc by N Seven Nigeria Ltd. and the ₦105 billion scheme of arrangement by Flour Mills of Nigeria Plc.

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Key Takeaways

The ₦1.1 trillion dividend declared in 2024 underscores renewed momentum in Nigeria’s capital markets. Alongside strong equity issuances and active deal-making, the trend reflects a shift toward higher market liquidity and enhanced shareholder value. Corporate restructuring—including takeovers and consolidations—signals deeper strategic alignment, especially in consumer goods, industrials, and financial services. Mutual fund growth is also accelerating. As of Q4 2024, registered mutual funds reached 184, with over ₦3.84 trillion in net assets and 800,000+ unitholders. Combined with ₦4.69 trillion in privately managed portfolios, total assets under management now exceed ₦8.53 trillion, managed by 82 active asset managers. These developments highlight the expanding role of professional fund management in capital formation and investor participation, setting the stage for deeper financial inclusion and broader capital market growth.

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