Rising Capitalization Boosts NGX Revenue, Up by 81% Year on Year in Q3 2026
The rising level of activities in the Nigerian capital is increasingly reflecting on the performance of the Nigerian Exchange Group as year to 2026 third quarter revenue spiked by 81% from N15.1 billion ($20.5 million) to N27.3 billion in the same period of 2026.
In a report filed by the NGX Friday, the Group declared a profit before tax of N20.5 billion for the period under review, a growth of 83% over the N11.2 billion in 2025.
Market capitalization has witnessed a significant rise in the last one year as growth in domestic investments continued to drive activities in the capital market.
The NGX had also noted that rising level of transactions has also been influenced by growing domestic participation in the market with local investors contributing almost 90% of N13.5 trillion in the equity trade.
Market capitalization rose by 80% from N90.6 trillion in the first nine months of 2026 as against N163.1 trillion in 2025. All Share Index, which measures the direction of price movements, grew by 76% from 142,710.48 to 251,211.67 In the same period.
The NGX makes over 75% of its income from trading activities on its platform with the rest coming from listing fees, investment in securities, rental and dividend incomes. The NGX (which used to be known as the Nigerian Stock Exchange) was unlimited by shares until it demutualized in 2021 and became listed on its own exchange.
The NGX charges 0.3% on the value of securities traded on its floor on the sell side and 0.25% for equity being raised and to be listed on the Exchange. Capital market activities have largely been buoyed in recent times by Nigerian banks who raised over N4.6 trillion (about $3.45 billion) from the market under a CBN mandated recapitalization drive.
Dangote Refineries Plc which is presently undertaking a public offer is also expected to grow market capitalization by over N200 trillion in what is expected to be the single largest listing (by value) in the history of the Nigerian capital market.
