Lagos, March 1, 2026, 10:05 WAT — The market has closed.
- Shares of NGX Group finished Friday at 124 naira, jumping 9.8% after the release of its audited 2025 results and news of a larger payout.
- The NGX All Share Index in Nigeria finished February with a 23.9% gain for the year so far, investors chasing after earnings and dividend payouts.
- This week, attention sticks to NGX Group for any follow-through, a fresh wave of audited results, and signs that profit-taking might resurface after February’s surge.
Shares of Nigerian Exchange Group Plc (NGXGROUP) surged 9.8% on Friday, ending the session at 124 naira. The NGX All Share Index, however, edged down 0.38% as the month wrapped up. Markets stay closed Sunday, set to open again Monday.
Timing’s a factor here. Nigerian equities took off in 2026, tacking on 24.4 trillion naira in market value just across January and February, according to Arise News. By Friday’s close, the exchange had a capitalisation of 123.76 trillion naira. The All Share Index wrapped February at 192,826.78 points—up 23.9% since the start of the year. “Most of the results released so far are impressive,” said Aruna Kebira, Globalview Capital’s chief executive, adding that with more full-year earnings on the way, he sees the upbeat momentum sticking around. Arise News
NGX Group posted a pre-tax profit of 15.6 billion naira for 2025. Core revenue climbed 36% to 22.9 billion naira, and operating profit came in up 44%, at 11.8 billion naira. The board’s final dividend: 2 naira per share, bringing the total payout for the year to 3 naira. On top of that, shareholders will get a 1-for-3 bonus issue—one bonus share for every three owned—effective April 10. Chairman Umaru Kwairanga flagged a “pipeline of exciting new listings.” Chief Executive Temi Popoola, referencing stiffer minimum capital requirements from the regulator, said the group’s balance sheet is “well positioned” to handle them. NGX Group
In the coming week, market watchers will see if NGX Group’s surge turns out to be a fleeting spike or marks the beginning of a broader rerating. Bonus issues, once effective, typically drag share prices down as the number of shares increases—though the company’s actual value stays put.
Strip things back and it’s just a trading story. NGX Group’s revenue leans on trading and listings—when turnover jumps and new securities show up, so do the numbers. Activity dries up? The impact hits almost right away.
Earnings season rolls on. Consolidated Hallmark Holdings plans to sign off on its 2025 audited results March 4. Abbey Mortgage Bank is up next: board approval for its audited numbers comes March 6, the NGX release calendar shows.
In Lagos, traders are watching dividend plays outside the heavyweight banks and industrials, scouting for last-minute moves both in and out. Profit-taking made itself felt again with February’s late-session dip—reminding everyone how quickly gains can be trimmed, despite the broader market’s run-up.
Plenty of pitfalls remain. Should local yields climb or the naira falter, stocks could quickly lose their advantage versus short-term government debt. The stocks that have seen the heaviest buying lately — and are more crowded — would probably feel the pain first in any broader risk-off shift.
NGX Group faces a clear risk here: should the post-earnings jump fade and trading volumes pull back, fee income doesn’t offer much cushion. Shares already sprinted higher in February. Swings like that can reverse just as quickly.
Monday’s session kicks off with NGX Group—investors will quickly see if it sticks above Friday’s finish, and whether the broader market keeps up February’s tempo. Then, attention shifts to March 4 and March 6, as those board dates are expected to deliver additional audited results and potential new dividend cues.
