Nigerian Companies Declare Over N1.1 Trillion in Dividends for 2024

In a strong display of market growth and investor confidence, listed companies on the Nigerian Exchange Limited (NGX) declared N1.1 trillion in dividends in 2024, according to the Securities and Exchange Commission (SEC). Out of this amount, N1 trillion has already been disbursed to shareholders, signaling a return to profitability and strengthening investor trust in Nigeria’s capital markets. The Director-General of the SEC, Dr. Emomotimi Agama, disclosed this during a recent statement issued in Abuja. He noted that the dividend payout underscores improved corporate performance and is a clear reflection of the growing confidence in the Nigerian capital market. “These figures represent both improved market confidence and positive investor returns,” Agama said

New Capital Issues and Market Activity Surge

The year 2024 witnessed significant activity in terms of capital raising and strategic market moves. The SEC approved a total of N3.68 trillion in new issuances between January and December 2024. This figure included N59.82 billion in fixed-income instruments and an impressive N3.62 trillion in equities. The overwhelming appetite for equity indicates strong investor confidence in the profitability and resilience of listed companies. In early 2025, the pace has remained steady. Between January and April 2025, the SEC approved fresh capital issuances totaling N446.38 billion. This included N265.90 billion from fixed income and N180.48 billion from equities, signaling an encouraging balance between debt and equity financing. Dr. Agama also highlighted increased activity in mergers and acquisitions. In 2024 alone, 11 major transactions were approved, amounting to N320.36 billion. The most notable was the acquisition of a 58.02% equity stake in Guinness Nigeria Plc by N Seven Nigeria Ltd., worth over N103.7 billion. Other corporate actions included three restructurings, two share capital reconstructions, and one takeover.

Collective Investment Schemes Gain Momentum

The Nigerian capital market also saw a surge in collective investment schemes and professional asset management. By Q4 of 2024, the market had 184 registered mutual funds with a total net asset value (NAV) of N3.84 trillion, serving over 800,000 unitholders. In addition, privately managed portfolios expanded to 444 vehicles, with total assets under management (AUM) amounting to N4.69 trillion. Altogether, 82 active asset management firms now oversee a combined N8.53 trillion in investments. This trend reflects a maturing market that is increasingly recognising the role of professional fund managers in capital formation and long-term wealth creation. The SEC noted that even though no mergers have been recorded so far in 2025, the pace of corporate takeovers and restructuring remains consistent. With three major deals worth N38.53 billion already approved this year, the Commission sees ongoing strategic consolidation as a sign of market dynamism and investor interest across key sectors.