SEC Approves N3.68 Trillion in New Market Issues Amid Strong Investor Confidence in 2024

The Securities and Exchange Commission (SEC) in Nigeria approved a total of N3.68 trillion in new market issues throughout 2024, according to Dr. Emomotimi Agama, the SEC Director-General. This figure comprises N59.82 billion from fixed income issuances and N3.62 trillion from equities, signaling robust investor interest and confidence in the equity segment.

Speaking at the first quarter Capital Market Committee meeting in Lagos, Agama noted that the momentum continued into 2025, with about N446.38 billion in new issues approved between January and April. Fixed income instruments accounted for N265.90 billion, while equities contributed N180.48 billion, highlighting ongoing strong activity in both market segments.

In terms of shareholder returns, listed companies declared dividends totaling N1.1 trillion in 2024 and have already paid out N1.0 trillion, reflecting improved market confidence and better returns for investors. This development underscores the positive performance of listed firms amid a favorable economic environment.

On mergers and acquisitions (M&A), the SEC approved 11 transactions valued at N320.36 billion in 2024. The most significant deal was Seven Nigeria Limited’s acquisition of a 58.02% stake in Guinness Nigeria Plc for over N103.7 billion. Other notable transactions included three corporate restructurings, two share capital reconstructions, one takeover, and four securities registrations.

Among these corporate restructurings, the scheme of arrangement by Flour Mills of Nigeria Plc was valued at over N105 billion. Additionally, Transnational Corporation Plc carried out a share capital reconstruction with a one-for-four share consolidation worth N5.08 billion. These moves highlight ongoing strategic restructuring activity in Nigeria’s capital market.

Source: Vanguard