‎Bull Run: Nigerian Stock Market Ends 2025 With 50.9% Gain

Nigeria’s stock market has concluded 2025 on a strong note, with investors witnessing a remarkable growth in their wealth.

‎According to Dr. Paul Uzum, a season stockbroker and director at Halo Nigeria Asset Management limited, he said the Nigerian Exchange (NGX) All Share Index surged by 50.9% this year, extending a five-year positive streak.

‎He said, this impressive performance was driven by various sectors, with Consumer Goods companies leading the charge, posting an average return of 128.9%.

‎”Some notable firms that made significant gains include Guinness (+398%), Champion (+269%), Nascon (+247%), and Nestle (+124%).

‎”The Insurance sector also had a remarkable year, with a 73.8% leap in stock value, attributed to the Nigerian Insurance Reform Act (NIIRA) 2025 and increased capital requirements for insurance businesses. Top-performing insurance companies include Sovrenins (+275%), AIICO (+165%), Custodian (+151%), and NEM (+145%).

‎”Other sectors that recorded substantial gains include Industrial Goods, which rose by 59.2%, driven by Betaglass (+527%), Vitafoam (+326%), Buacement (+92%), and Dangcem (+27%). Banking stocks gained 39.3%, led by Wema Bank (+125%), Stanbic (+74%), Firstholdco (+71%), and GTCO (+59%). Telecom giant MTN rose by 146% to N511, while Airtel Africa gained 5% to close at N2270.

‎”The market’s top gainers for 2025 were NCR (1354%), Betaglass (+527%), Eunicel (+497%), TIP (+432%), and Mecure (+415%).

‎Looking ahead to 2026, Dr. Uzum explained that the market performance is expected to be driven by factors such as the introduction of a 25% capital gain tax, the listing of Dangote Refinery, the outlook for crude oil prices, and the pre-election year effect.