The Securities and Exchange Commission (SEC) revealed that Nigerian companies listed on the Nigerian Exchange Ltd. (NGX) declared a total of N1.1 trillion in dividends to shareholders during 2024, with N1 trillion already paid out, signaling growing investor confidence and rewarding market returns.
Dr. Emomotimi Agama, SEC’s Director-General, shared these highlights in a statement on Sunday, emphasizing the robust performance of Nigeria’s capital markets over the past year.
Capital Market Issuances and Investor Confidence
From January to December 2024, the SEC approved new issuances valued at N3.68 trillion, comprising:
-
N59.82 billion in fixed income securities
-
N3.62 trillion in equities
This shows a strong appetite among investors and a high level of confidence from issuers in the equity market segment.
For the first four months of 2025, new issues totaling approximately N446.38 billion have been approved, with N265.90 billion raised from fixed income instruments and N180.48 billion from equities.
Mergers, Acquisitions, and Corporate Restructuring
The SEC approved 11 mergers and acquisitions worth N320.36 billion in 2024. The largest transaction was the acquisition of a 58.02% stake in Guinness Nigeria Plc by N Seven Nigeria Ltd., valued at over N103.7 billion.
Other significant market movements included:
-
Three corporate restructuring deals, including a scheme of arrangement by Flour Mills of Nigeria Plc valued at more than N105 billion.
-
Two share capital reconstructions, notably the one-for-four share consolidation by Transnational Corporation Plc valued at N5.08 billion.
-
One takeover and four securities registrations were also recorded.
In early 2025, three major transactions valued at N38.53 billion were approved, including two takeovers and one corporate restructuring. Though no mergers have been reported so far this year, strategic consolidation remains active across key sectors.
Growth in Collective Investment Schemes
The collective investment sector also experienced impressive growth. By the end of Q4 2024:
-
The number of registered mutual funds reached 184, with a combined net asset value of N3.84 trillion and over 800,000 unitholders.
-
Privately managed portfolios and products increased to 444 vehicles, with assets under management totaling N4.69 trillion.
-
Overall, 82 active asset management firms oversee investments worth N8.53 trillion.
Dr. Agama described these figures as evidence of a maturing market, with professional fund management playing an increasingly vital role in capital formation and wealth creation.
Outlook
The data reflects sustained market activity, as issuers continue to utilize both debt and equity avenues to support growth and investment initiatives.
