# Nigerian capital market growth and financial inclusion

> Live situation record from CLSTR: https://clstr.news/situations/african-listed-companies-post-varied-earnings-and-dividend-actions-in-aprilmay-2026
> Updated: 2026-08-08T18:11:43.000Z. Sources: 21. Developments: 10.

Since April 2026, Nigerian listed firms have shown improving fundamentals, highlighted by Afriland Properties’ dividend issue, Lafarge Africa’s 101% profit jump, and Champion Breweries’ record revenue. The Nigerian Exchange Group (NGX) has also deepened regional integration through a partnership with the Nairobi Securities Exchange.

NGX leadership has focused on broader financial inclusion and sustainable wealth creation. In June 2026, CEO Temi Popoola noted the NGX Invest platform helped onboard over two million investors in 2025. On 18 July 2026, Chairman Dr. Umaru Kwairanga called for tighter collaboration between the capital market and the insurance industry. Following this, at a fintech roundtable in Lagos on 1 August 2026, Kwairanga urged regulators and technology firms to expand digital services to small businesses, women, and underserved communities, emphasizing that trust, cybersecurity, and financial literacy are essential for a resilient digital ecosystem.

Recent market activity shows the NGX All-Share Index rising to approximately 245,573 points, contributing to a market capitalization of roughly ₦158.51 trillion, though weekly transaction values have seen a sharp decrease from previous highs. To support Nigeria's goal of becoming a $1 trillion economy, NGX leadership met with President Bola Tinubu to outline a strategic roadmap. This includes proposals to list major strategic assets—such as stakes in the Nigerian National Petroleum Company (NNPC) Limited, Nigeria LNG Limited (NLNG), and Indorama Eleme Petrochemicals Limited—to deepen market liquidity and attract both domestic and international investors.

## Timeline

### 2026-08-08: Nigerian Exchange grows as leaders target $1 trillion economy

The Nigerian Exchange is seeing growth driven by banking stocks, while officials propose listing strategic assets like NNPC to help achieve Nigeria's $1 trillion economy goal.

7 sources. https://clstr.news/cluster/nigerian-exchange-rises-as-ngx-ceo-urges-fintech-listings

### 2026-08-01: Nigerian Exchange Group Chairman Calls for Inclusive Fintech Growth

NGX chairman Dr Umaru Kwairanga urged regulators, banks and tech firms to collaborate on broader fintech inclusion in Nigeria, stressing trust, infrastructure and the NGX Invest platform.

2 sources. https://clstr.news/cluster/nigerian-exchange-group-chairman-calls-for-inclusive-fintech-growth

### 2026-07-18: Nigerian Exchange Group Chairman Urges Capital Market-Insurance Collaboration

NGX Chairman Dr Umaru Kwairanga urged tighter cooperation between Nigeria’s capital market and insurance sector to mobilise long‑term capital, boost financial inclusion and support sustainable growth.

3 sources. https://clstr.news/cluster/nigerian-exchange-group-chairman-urges-capital-market-insurance-collaboration

### 2026-06-29: Nigeria's CMAN urges tax incentives to boost NGX listings

Nigeria's CMAN president Prof. Uche Uwaleke urged tax incentives and a reduced corporate tax rate to increase NGX listings, linking reforms to household prosperity.

3 sources. https://clstr.news/cluster/nigerias-cman-urges-tax-incentives-to-boost-ngx-listings

### 2026-06-08: NGX CEO Temi Popoola urges inclusive, sustainable wealth creation in Nigeria

NGX CEO Temi Popoola says Nigeria’s capital market must prioritize inclusive, sustainable wealth creation, citing retail growth via NGX Invest and urging better governance and broader access.

2 sources. https://clstr.news/cluster/ngx-ceo-temi-popoola-urges-inclusive-sustainable-wealth-creation-in-nigeria

### 2026-05-26: Champion Breweries posts record revenue surge and returns to profit

Champion Breweries posted a 67% revenue jump to ₦15.93 bn and a return to profit in H1 2025, then reported 43% revenue growth and a 119% profit increase for 2025, approved a dividend and acquired the Bullet bev

2 sources. https://clstr.news/cluster/champion-breweries-posts-record-revenue-surge-and-returns-to-profit

### 2026-05-26: NGX and Nairobi Stock Exchange Commit to Deeper African Market Integration

NGX and Nairobi Stock Exchange leaders pledged joint initiatives—cross‑border listings, new products, tech sharing, ESG and education—to boost African market integration and attract global capital.

2 sources. https://clstr.news/cluster/ngx-and-nairobi-stock-exchange-commit-to-deeper-african-market-integration

### 2026-05-06: Nigerian Breweries and Beta Glass post profit gains

Nigerian Breweries and Beta Glass each reported sizeable profit increases in recent periods.

7 sources. https://clstr.news/cluster/nigerian-breweries-and-beta-glass-post-profit-gains

### 2026-05-04: Nigerian Market Gains as Lafarge Africa Profit Doubles and NGX Shares Praise FY Results

Lafarge Africa’s profit doubles and market value jumps while NGX shareholders applaud strong FY results and dividend payout.

3 sources. https://clstr.news/cluster/nigerian-market-gains-as-lafarge-africa-profit-doubles-and-ngx-shares-praise-fy-results

### 2026-04-22: Afriland Properties approves 2025 dividend amid conflicting payout figures

Afriland Properties' 2025 dividend reports show 24k in one account and N329.7m approved at the AGM.

2 sources. https://clstr.news/cluster/afriland-properties-approves-2025-dividend-amid-conflicting-payout-figures

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Cite as: Nigerian capital market growth and financial inclusion. CLSTR, https://clstr.news/situations/african-listed-companies-post-varied-earnings-and-dividend-actions-in-aprilmay-2026