The Federal Government has been urged to introduce targeted incentives to encourage public limited liability companies to list on the NASD OTC Securities Exchange, as part of broader efforts to deepen Nigeria’s capital market and drive inclusive economic growth.
This appeal was made by the Managing Director and Chief Executive Officer of NASD Plc, Eguarekhide Longe, during a media briefing in Lagos over the weekend, where he also shared the company’s strong first-half 2025 financial performance and future strategic direction.
For the six months ended June 30, 2025, NASD recorded a remarkable 308 per cent year-on-year revenue growth, reaching ₦657m from ₦161m in the same period of 2024. Profit Before Tax (PBT) surged to ₦34m, a major turnaround from a loss of ₦63m in H1 2024—representing a 646 per cent swing.
The company also significantly improved operational efficiency, as its cost-to-income ratio fell to 48 per cent from 139 per cent in the prior year.
A key driver of the performance was originating income, which jumped astronomically to ₦332m, compared to just ₦1.3m in H1 2024—an extraordinary 26,000 per cent increase—bolstered by improved market engagement and strategic execution.
In addition to its strong fundamentals, Longe revealed that NASD’s share price has gained 93.29 per cent year-to-date, rising from ₦15.51 on January 1, 2025, to ₦29.98 as of July 31, 2025. Since its listing on the Nigerian capital market in 2013 at an offer price of ₦1.50, the company’s share price has appreciated by 1,898 per cent, representing a Compound Annual Growth Rate (CAGR) of 28.35 per cent.
“We are proud of our strong performance in the first half of 2025. This financial turnaround highlights the resilience of our business model, the success of our strategic initiatives, and our commitment to delivering exceptional value to our shareholders,” Longe said.
He added that NASD remains committed to sustainable growth and long-term value creation, supported by technology-driven platforms aimed at increasing market participation and enterprise development.
Among the company’s innovation-driven offerings are the flagship OTC Securities Exchange for unlisted public companies, the NASD Enterprise Portal (NASD eP), VentureRamp, the NASD Digital Securities Platform (N-DSP), and the NASD Commercial Paper Platform.
The company is also exploring opportunities in the solid minerals sector and plans to roll out new digitized financial products, including real-world asset-backed securities such as real estate offerings, to attract a new generation of investors—particularly millennials and Gen Z.
Looking ahead, NASD’s board is proposing a cash dividend of 20 kobo per ordinary share and a bonus share issuance of one new share for every five held, based on the 2024 financial year-end results. These proposals will be tabled for shareholder approval at the company’s forthcoming Annual General Meeting in August.
Concluding his remarks, Longe made a strategic appeal to policymakers: “We urge the Federal Government to support the capital market by encouraging public limited liability companies to list on NASD through appropriate incentives. This will further deepen market access and economic development.”
