Nigerian Exchange Group Plc

NGX Group is the Nigerian Exchange itself — the holding company that owns the stock exchange where every other stock on this page trades. When more Lagosians buy stocks, NGX Group earns more in trading fees, listing fees, and data sales. It is the meta-play on Nigerian capital markets. For Lagos investors, NGX Group is the most direct way to participate in the entire NGX rally. Up 496% YTD — the single best-performing stock on the entire exchange in 2026 — NGXGROUP has roughly 6x'd in twelve months. The 2025 demutualization (which converted the NGX from a member-owned exchange to a publicly-traded for-profit company) finally let retail investors own a piece of Nigerian capital markets infrastructure. The company's revenue scales directly with market activity. Q1 2026 turnover (₦8 trillion across the year) generated approximately ₦40 billion in trading and listing fees for NGX Group — a 380% year-on-year increase.

NGX Group is the holding company that operates the Nigerian Exchange Limited (the stock exchange), NGX Real Estate Limited, NGX Regulation Limited, and several capital markets infrastructure subsidiaries. The Group emerged from the 2021 demutualization of the Nigerian Stock Exchange — converting from a not-for-profit, member-owned exchange to a for-profit publicly-listed company. The exchange itself traces its history to 1960 (founded as the Lagos Stock Exchange) and 1977 (renamed Nigerian Stock Exchange). NGX Group listed its own shares in October 2021 at ₦18 — making the exchange that lists 146 companies a listed company itself. Revenue is generated from trading fees (small percentage of every trade), listing fees (annual fees from 146 listed companies), market data sales (to brokers, fintechs, and media), and ancillary services. As market turnover increases — driven by the post-2024 retail investor surge and the broader bull market — NGX Group's revenue scales proportionally. The Group's strategic priorities include integrating with West African exchanges (Ghana, Kenya), launching derivatives markets, modernizing market data products, and supporting Nigerian fintech IPOs. Demutualization gives the Group commercial flexibility unavailable to the predecessor entity.