CWG, a Nigerian information technology services and infrastructure company, recorded an 84.22 per cent increase in profit in 2025, driven by strong growth in software sales and IT infrastructure services, according to its latest financial results.
The company’s revenue rose to ₦65.66 billion in 2025, representing a 41.65 per cent increase from the previous year, while profit after tax climbed to ₦5.61 billion.
CWG said the performance was largely supported by sustained demand for enterprise software and IT services, with combined revenue from software sales and IT infrastructure services rising by 54.05 per cent during the year.
Since 2024, CWG’s profit growth has been significantly boosted by its long-standing partnership with Indian multinational technology firm Infosys, through which it distributes the Finacle core banking application to major Nigerian banks. These include First Bank, GTBank, UBA, Fidelity Bank, Stanbic IBTC, FCMB, and Wema Bank, many of which carried out major system upgrades in 2024.
Between 2023 and 2025, CWG’s profit increased ninefold, driven by a sharp surge in software sales, which expanded by more than 450 per cent over the same period. In 2025 alone, software sales rose by 27.35 per cent to ₦20.92 billion, reflecting the company’s strategic shift from hardware-focused systems integration to enterprise software and digital services.
Revenue from IT infrastructure services, including equipment sales and IT support, also grew strongly, rising by 88.44 per cent. Managed support services — which cover software and hardware support, performance monitoring, technical support, and maintenance — increased by 14.60 per cent to ₦18.83 billion. However, revenue from CWG’s platform business declined by 13.48 per cent.
Despite the strong topline growth, the company’s cost of sales rose by 35.91 per cent to ₦49.55 billion, largely due to higher payments to original equipment manufacturers and the rising cost of delivering large-scale projects.
Speaking in 2024, CWG Group Chief Executive Officer, Adewale Adeyipo, attributed the company’s growth trajectory to increased sales, improved operational efficiency, disciplined cost management, and productivity gains.
After posting its first billion-naira profit in 13 years in 2024, CWG announced plans in 2025 to expand into new markets in East Africa and the Middle East. However, its 2025 financial results show that operations remained within Nigeria, Ghana, Uganda, and Cameroon, unchanged from the previous year.
While the company continues to benefit significantly from banking-sector clients, CWG has begun expanding its footprint beyond financial services. In June 2025, it partnered with the Taraba State Government to digitise sports gaming revenue collection processes. In December 2025, the Federal Inland Revenue Service (FIRS) also named CWG as one of the system integrators for Nigeria’s mandatory electronic invoicing system under the Monitoring, Billing, and Settlement (MBS) platform, positioning the firm as a key player in the rollout of the new national e-invoicing framework.