NCR Nigeria Plc emerged at the forefront of a broadly bullish Nigerian stock market in 2025, as investors enjoyed one of the strongest rallies in recent years.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) delivered a robust 51.19 per cent year-to-date return, reflecting sustained buying interest across sectors.
By the close of trading on Wednesday, December 31, 2025, the ASI had climbed by 52,686.63 points to settle at 155,613.03 points, up sharply from its opening level of 102,926.40 points on Thursday, January 2, 2025.
Analysts say the impressive advance underscored renewed confidence in equities amid improving market sentiment.
The rally was also evident in the overall value of listed equities, as total market capitalisation expanded to ₦99.38 trillion at year-end, rising from ₦62.76 trillion at the start of the year. This translated into a wealth gain of ₦36.62 trillion for investors over the period.
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Market breadth remained strongly positive throughout the year, with about 85.5 per cent of stocks traded on the NGX recording price appreciation in 2025, highlighting the depth and resilience of the year’s market-wide growth.
According to the NGX Group managing director/chief executive officer, Temi Popoola, the “performance underscores the importance of policy consistency, purposeful reforms, and strategic collaboration in strengthening investor confidence and sustaining market growth.”
How the top stocks achieved exceptional growth
Pinnacle Daily’s analysis of market data highlights a remarkable rally among select equities on the NGX in the review year, with NCR Nigeria standing out as the market’s top performer.
The information technology company, which focuses on the sale and servicing of IT solutions as well as computer consumables, delivered an exceptional run that captured investor attention throughout the year.
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Its share price soared by an impressive 1,354 per cent, climbing from ₦5.00 at the opening of trading on January 2 to close the year at ₦72.70 per share on December 31, 2025, underscoring strong demand for the stock.
Trailing closely behind was Eunisell Interlinked Plc, which posted a solid performance amid growing investor appetite for companies tied to Nigeria’s energy and infrastructure value chain.
The engineering and construction services provider recorded a 496.78 per cent increase in its share price, ending the year at ₦115.00 per share from an opening level of ₦19.27.
Betaglas Plc also delivered an outstanding showing during the year. The glass bottle and container manufacturer, which supplies the beverage and cosmetics industries, returned a 470.11 per cent gain, with its share price rising sharply from ₦64.90 in January to ₦370.00 by year-end.
Mutual Benefits Assurance Plc, which enjoyed renewed investor interest in the insurance space, followed. The insurer recorded a 408.20 per cent appreciation, as its shares advanced from ₦0.61 at the start of the year to close at ₦3.10 per share, reflecting strong momentum in select insurance stocks.
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Several consumer-facing and industrial stocks also delivered standout performances on the Nigerian Exchange in 2025, underscoring the breadth of the market rally during the year.
Guinness Nigeria Plc led the pack among major consumer goods companies, with the brewer and distiller recording a 398.08 per cent surge in its share price. The stock closed the year at ₦349.90 per share, rising sharply from its opening level of ₦70.25.
Ellah Lakes Plc, an integrated agro-industrial enterprise, also posted an impressive run, gaining 324.05 per cent to close at ₦13.40 per share, compared with its opening price of ₦3.16 in early 2025. The strong performance reflected renewed investor interest in agriculture-linked equities.
Vitafoam Nigeria Plc, a leading household durables manufacturer, recorded a 300.00 per cent appreciation, as its share price climbed from ₦23.00 to ₦92.00 by the end of the year. The rally extended to the hospitality space, where Ikeja Hotel Plc advanced by 272.44 per cent, closing at ₦41.90 per share from ₦11.25 at the start of the review period.
In the brewing segment, Champion Breweries Plc posted a 267.45 per cent gain, with its shares rising to ₦14.00 from ₦3.81.
Rounding out the top performers, Honeywell Flour Mills Plc, a food products manufacturer and marketer, recorded a 247.62 per cent increase to close at ₦21.90 per share, up from ₦6.30.
Overall, the industrial and consumer goods sectors featured prominently among the year’s top gainers, with stocks such as Betaglas, which returned 470.11 per cent, and Guinness Nigeria delivering notable year-to-date appreciation and reinforcing the strength of the 2025 market rally.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
