July 14, (THEWILL) — Nigerian Exchange Group (NGX Group), a leading integrated market infrastructure provider in Africa, has signed a funding agreement with DEG Impulse gGmbH, a subsidiary of the German Development Finance Institution, DEG – Deutsche Investitions-und Entwicklungsgesellschaft mbH, part of KfW Bankengruppe, to commence the implementation of its flagship NGX Net-Zero Programme (N-Zero).
The N-Zero is designed to support businesses with the tools, frameworks, and technical guidance required to set, validate, and achieve science-based emission reduction targets. It aligns with Nigeria’s commitment to the Paris Agreement and the global goal of limiting temperature rise to 1.5°C.
The recently signed agreement in Cologne, Germany, marks a major step forward in NGX Group’s efforts to strengthen climate resilience and promote low-carbon development across Nigeria’s private sector. The multi-billion-naira funding was secured under DEG Impulse’s develoPPP programme, which supports innovative private sector initiatives with high development impact.
By bringing together global climate partners, including implementing partner Africa Foresight Group (AFG), NGX Group, through N-Zero, will assist companies in developing credible transition plans and carbon projects that generate verifiable carbon credits, thereby supporting economic resilience, promoting green investments, and contributing to a decarbonized future.
Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, said:
“The signing of this agreement with DEG Impulse marks a significant milestone in our sustainability journey. This partnership demonstrates strong confidence in our vision to drive sustainable finance, build a climate-conscious private sector in Nigeria and champion climate action across Africa. Through N-Zero, we aim to translate ambition into measurable impact by reducing emissions and positioning Nigerian corporates to benefit from emerging opportunities in the global carbon market.”
Alhaji (Dr.) Umaru Kwairanga, Group Chairman of NGX Group, added:
“This initiative represents a bold step toward positioning NGX Group at the forefront of climate leadership in Africa. As we activate the N-Zero Programme, we reaffirm our long-standing commitment to innovation, sustainable development, and creating long-term value for the Nigerian economy.
“It is our firm belief that capital markets must play a central role in delivering climate solutions, and this partnership is a model for what is possible when global institutions collaborate with local expertise”.
Dr. Hubertus Pleister, Managing Director of DEG Impulse, commented: “With the support of the German Federal Ministry of Economic Cooperation and Development (BMZ), the develoPPP initiative contributes to NGX’ transformation journey by addressing climate risks and advancing sustainability through strategic and innovative collaboration – reinforcing our shared commitment to building resilient capital markets and enabling long-term impact.”
The “NGX’ N-Zero Programme” will run from June 2025 to April 2027 and is expected to reduce or avoid 20,000 tons of greenhouse gas emissions. It will support at least 26 businesses in implementing environmental and social standards and provide access to carbon markets through credit registration and emissions offsetting.
This collaboration underscores NGX Group’s commitment to the United Nations Sustainable Development Goal 13 (Climate Action) and its role in advancing Nigeria’s transition to a more sustainable and inclusive economy.
Amid global capital market headwinds, Nigeria’s capital market continues to show remarkable resilience, driven by structural reforms and a renewed focus on collaborative innovation. At the forefront of this transformation is the NGX Group, led by Group Managing Director/CEO Temi Popoola, whose partnership-driven strategy is redefining how capital is mobilised and deployed across Africa’s largest economy.
While the capital market currently accounts for about 15 percent of Nigeria’s Gross Domestic Product (GDP), NGX Group is working with regulators, financial institutions, and international stakeholders to unlock its full potential.
The goal is to create an ecosystem where transparency, accessibility, and innovation drive sustainable, long-term growth, impacting positively on the performance of the NGX. The Group had announced its audited financial results for the year ended 31 December 2024, delivering a record-breaking pre-tax profit of N13.6 billion, marking an impressive 157.3 percent year-on-year growth.
This strong performance was driven by robust revenue expansion, strategic cost optimization, and increased market participation, reflecting the Group’s resilience and financial strength.
The Group’s gross earnings surged by 103.2 percent to N24.0 billion in FY 2024, up from N11.8 billion in the previous year, propelled by significant growth across key revenue streams.
At the end of the last trading week of June (ending July 4) a total of 923,869,613 shares in 25,680 deals, corresponding to a market value of NGN 11,003,153,461.45, were traded. Compared with the previous NGX trading day (Thursday, July 3), Friday’s data showed 1 percent decline in volume, 62 percent decline in turnover, but 6 percent improvement in deals. The market capitalization closed at NGN 76.3 trillion.
The benchmark NGX All-Share Index (ASI) inched up 12.46 (0.01 percent) points to close at 120,989.66, representing a 1-week gain of 0.83 percent, a 4-week gain of 7.62 percent and an overall year-to-date gain of 17.55 percent.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
