The Securities and Exchange Commission (SEC) has revealed that companies listed on the Nigerian Exchange declared a cumulative N1.1 trillion in dividends to shareholders in 2024.
This disclosure was made by the Director-General of the Commission, Dr. Emomotimi Agama, during the first-quarter Capital Market Committee (CMC) meeting held recently in Lagos. According to him, N1.0 trillion of the declared dividends has already been disbursed to shareholders, underscoring not only improved corporate earnings but also growing investor confidence in the domestic capital market.
Dr. Agama stated that the robust dividend performance was complemented by strong primary market activity, with the Commission approving new issuances amounting to N3.68 trillion between January and December 2024. Of this, N59.82 billion was raised through fixed income instruments, while equities accounted for N3.62 trillion—an unmistakable signal of sustained investor appetite and issuer confidence.
In the first four months of 2025 alone, new capital market issuances valued at N446.38 billion have already received regulatory approval, comprising N265.90 billion in debt instruments and N180.48 billion in equity offerings.
“This trajectory demonstrates a healthy market in which companies are able to mobilize capital efficiently to fund strategic initiatives and expansion,” Agama noted.
The SEC boss further revealed that merger and acquisition activity remained vibrant throughout 2024, with 11 high-profile transactions valued at N320.36 billion securing regulatory nod. Chief among them was the landmark acquisition of a 58.02 percent stake in Guinness Nigeria Plc by N Seven Nigeria Ltd., a deal worth over N103.7 billion.
Also significant were corporate restructuring initiatives such as Flour Mills of Nigeria Plc’s scheme of arrangement, valued at over N105 billion, and the share capital consolidation by Transnational Corporation Plc, involving a one-for-four share consolidation amounting to N5.08 billion.
So far in 2025, the Commission has approved three major transactions worth N38.53 billion, including two takeovers and one corporate restructuring. Although no mergers have been recorded in the year-to-date, Agama asserted that “the pace of market activity remains steady, with continued interest in strategic consolidation and reorganisation across key sectors.”
On the asset management front, Agama reported a notable surge in collective investment schemes. As of Q4 2024, the net asset value of registered mutual funds stood at N3.84 trillion across 184 funds with over 800,000 unitholders. Privately managed portfolios and investment products also showed strong momentum, growing to 444 vehicles with total assets under management of N4.69 trillion.
“In aggregate, 82 active asset management firms are now managing N8.53 trillion in investor assets,” Agama said. “This reflects a deepening market where professional fund management is increasingly central to capital formation and long-term wealth creation.”
Overall, the SEC’s latest disclosures offer a compelling portrait of a market in revival—one where issuers and investors alike are recalibrating for growth, buoyed by strong fundamentals and strategic reforms.
