The NASD Securities Exchange grew strongly in 2025, with total market value rising 106% as the NASD Index (NDI) increased from 3,002.68 points to 3,543.46.
According to the Exchange, market value rose from N1.02 trillion in 2024 to N2.1 trillion in 2025, driven mainly by new listings and price gains on listed securities.
More companies and instruments were added to the Exchange, contributing approximately N1.12 trillion in new listings and showing steady interest from issuers.
At the same time, the NASD Pension Index (NPI) rose sharply, climbing from 954.33 points to 3,002.68 points, reflecting wider gains across the market.
What the data is saying
According to NASD, the Exchange admitted Infrastructure Credit Guarantee Company Plc (InfraCredit), Paintcom Investment Nigeria Plc, and MRS Plc in 2025, along with the listing of Access Bank Plc’s Rights Issue.
Together, these listings added about N1.121 trillion in new securities to the Exchange during the year.
The effects of this increased activity are already reflected in NASD’s half-year results for January to June 2025, which represent the Exchange’s latest financial statement.
Fees and commissions’ income rose to N549.2 million from N135.8 million in the same period the previous year.
- Listing fees made up most of this growth, rising to N331.6 million from N1.2 million a year earlier.
- Trading commissions followed, increasing to N199.8 million from N113.7 million, while other income streams accounted for the rest.
Beyond equities, NASD also saw growth in alternative funding instruments, with Commercial Paper admissions exceeding N34.32 billion, showing stronger participation from both issuers and investors.
Performance
For the period from January to June 2025, NASD Plc recorded a pre-tax profit of N341.8 million, rebounding from a loss of N62.4 million in the same period of 2024. With no tax charge, post-tax profit matched pre-tax earnings.
- Fees and commissions were the main driver of growth, rising 304.3% year-on-year.
Despite higher operating expenses, with employee benefits and compensation at N173.2 million and other costs at N140.9 million, the Exchange posted an operating profit of N235.1 million, rebounding from a loss of N87.5 million.
On the balance sheet, total assets grew to N1.4 billion from N1.3 billion, while retained earnings climbed 184.96% to N526.6 million.
What you should know
NASD’s CEO, Eguarekhide Longe, said the results show the Exchange’s role as Nigeria’s alternative platform for raising money and investing beyond the traditional market.
He added that NASD is positive about the 2026 economic outlook, thanks to improving conditions and expected gains from ongoing reforms, including the new tax law.
The Exchange also said it will keep working with stakeholders to create more opportunities, support entrepreneurship, and encourage inclusive growth through innovation.
