By :Peace Udugba – the daily torch media
Lagos, Nigeria. Friday, 2 January 2025. Nigerian Exchange Limited (“NGX” or “The Exchange”), the sustainable exchange championing the development of Africa’s largest economy, has announced the results of its full year market index review for the following indices – NGX 30; NGX Lotus Islamic; NGX Pension; NGX Pension Broad Index; Corporate Governance Index; Afrinvest Bank Value Index; Afrinvest Dividend Yield Index; Meristem Growth Index; Meristem Value Index; and the five Sectoral Indices of The Exchange – NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods and NGX Oil & Gas.
The review has led to the entry and exit of some companies from several indices which took effect at the open of the market on Friday, 2 January 2025. Below are the incoming and exiting companies in the various indices:
Indices Title Incoming Exiting
NGX 30 Index • Guinness Nigeria PLC • United Capital Plc
NGX Consumer Goods Index • None • None
NGX Banking Index • None • None
NGX Insurance Index • Mutual Benefits Assurance PLC • Guinea Insurance PLC
NGX Industrial Index • None • None
NGX Oil & Gas Index • Japaul Gold & Ventures Plc • MRS Oil Nigeria Plc
NGX Pension Index • Wema Bank Plc • International Breweries Plc
NGX Lotus Islamic Index
• Presco Plc • None
Corporate Governance Index • None • None
NGX Pension Broad Index • Nigeria Infrastructure Debt Fund • Regency Alliance Insurance Plc
• Veritas Kapital Assurance Plc
Afrinvest Bank Value Index • Wema Bank Plc
• Jaiz Bank Plc • Access Holdings Plc
• Stanbic IBTC Holdings PLC
Afrinvest Div Yield Index • Dangote Cement Plc
• Okomu Oil Palm Company Plc
• Vitafoam Nigeria Plc • Conoil Plc
• May & Baker Nigeria Plc
• Red Star Express Plc
• SFS Real Estate Investment Trust
• Tripple Gee & Company Plc
Meristem Growth Index • BUA Cement Plc
• Lafarge Africa Plc
• AXA Mansard Insurance Plc
• AIICO Insurance Plc • CAP Plc
• Conoil Plc
• United Capital Plc
Meristem Value Index • Ecobank Transnational Incorporated
• Julius Berger Nigeria Plc
• NEM Insurance Plc • Dangote Sugar Refinery Plc
• TotalEnergies Marketing Nigeria Plc
• Lafarge Africa Plc
Designed using the market capitalization methodology, the indices are rebalanced on a semi-annual basis on the first business day in January and in July respectively.
Jude Chiemeka (CEO, NGX) reiterates that the Exchange continues to blaze the trail on the path to becoming Africa’s foremost securities exchange with innovation and product development that deepen the market and boost liquidity, thus connecting Nigeria, Africa and the world.
Abimbola Babalola (Head, Trading & Products) emphasized that NGX indices are developed, managed and rebalanced annually to allow investors efficiently track market movements and properly manage investment portfolios.
The compiler of the indices maintains the right to modify the circulated selection above in connection with any mergers, takeovers, suspension or resumption of trading or any other company structure changes during the period before the effective date of the annual review.
