The NGX All-Share Index (ASI) posted a modest 2.66% gain in Q1 2025, closing at 105,660.64 points. This marks a sharp contrast to the 39.84% return recorded in the same period last year.
However, despite the broad market’s tepid performance, several listed companies delivered outstanding returns, significantly outperforming the index.
Nairametrics tracked the market and compiled a list of the top 10 best-performing stocks in Q1 2025 based on share price gains among companies with a market capitalization above N50 billion.
While small- and mid-cap stocks such as SCOA Nigeria, Chellaram Plc, Livestock Feeds, NNFM, SMURFIT, UPDC, Mutual Benefits, and The Initiates led in percentage gains, the list below highlights the top gainers within the N50 billion+ market cap category.
PZ CUSSON +52.67% YtD
PZ Cussons posted a 52.67% gain in Q1 2025, ranking it the 5th best-performing stock among companies with a market capitalization above N50 billion.
The company is currently the 40th most valuable stock on the NGX, with a market capitalization of N133 billion. However, it ranks 66th in trading activity over the past three months, indicating it’s not among the most frequently traded stocks on the exchange.
Over the period, it recorded a total volume of 71 million shares, valued at N1.95 billion.
This level of investor activity suggests moderate liquidity, meaning the stock is not extremely active in daily trading but still sees a fair amount of interest.
BETA GLASS + 53.58% YtD
Beta Glass Company is currently the 53rd most valuable stock on the NGX, with a market capitalization of N59.9 billion.
Its share price gained 53.58% in Q1 2025, making it the 4th best-performing stock among companies with a market capitalization above N50 billion and the 13th overall on the NGX for the quarter. This is a notable improvement from its 20% year-to-date return in the same period last year.
With a beta of just 0.045, Beta Glass is considered a low-volatility, defensive stock, meaning it tends to remain stable even during turbulent market conditions. In practical terms, if the market moves by 1%, Beta Glass is expected to move by only 0.045%.
Despite its traditionally low volatility, the stock has rallied strongly, suggesting that the price surge is driven by company-specific factors rather than broad market trends.
Its 2024 audited financials showed a clear acceleration in performance, outpacing the company’s 5-year compound annual growth rate (CAGR).
PRESCO 65.25%
Presco Plc recorded a 65.25% share price appreciation in the first quarter of 2025, ranking it 3rd among the companies with over N50 billion market capitalization. Presco Plc is currently the 22nd most valuable stock on the NGX, with a market capitalization of N785 billion.
Last year, the share price gained 146%, and 45% has already been achieved in Q1, suggesting that it is on course to sustain or even surpass its 2024 share price performance.
However, this may depend on certain critical success factors. Presco’s share price trading liquidity suggests a moderate but not too strong liquidity. Over the past three months, it has traded a total of 26.6 million shares valued at N17.7 billion and ranked the 86th most traded stock on the NGX.
The company is yet to release its 2024 audited results, but its unaudited results indicate very strong results. Profit before tax grew by more than 156%, while earnings per share grew by 217% fueling expectation of increased dividend, given that the company paid N26.30 from earnings per share of N32.88 in 2023.
UPDC +86.79% YtD
UPDC Plc is currently the 55th most valuable stock on the NGX with a market capitalization of N58.3 billion, which is about 0.088% of the Nigerian Stock Exchange equity market.
As of end of Q1 2025, the share price has gained 86.79% ranking it the second best amongst companies with over N50 billion in market capitalization.
It has since then improved, returning 97.5% to close at N3.14, ranking it the fourth best performing stock on the NGX in terms of share price appreciation.
In the past three months, UPDC has traded a total volume of 354 million shares valued at N953 million, ranking it the 27th most traded stock on the NGX. This suggests good liquidity that can make it easier for investors to enter and exit, which is very important.
Another possible good traction for the stock is the company’s recent impressive financial performance. Profit before tax grew by 378% to N1.82 billion compared to the N380 million in 2023.
HONYFLOUR +96.03% YtD
Honeywell Flour Mill began the year at N6.30 and surged 96.03% YTD, closing at N12.35 on March 28, 2025, ranking as the 5th best-performing stock on the NGX.
The stock has shown relatively strong trading liquidity, with 399 million shares traded, valued at N4.35 billion, making it the 25th most traded stock.
With a beta of 0.42, the stock’s rally appears less correlated to the broader market, suggesting that company-specific factors are driving its gains.
The company’s nine-month results (December 2024) showed a strong turnaround, shifting from an N8.8 billion pre-tax loss to a N12.283 billion pre-tax profit, while revenue also surged 123% to N277 billion.
Last year, the stock returned 94.88%, and with its Q1 2025 performance, it remains on course. However, sustaining investor confidence will be key to maintaining the rally.
Others making up the top ten list include
- NASCON +46.57%YtD
- NAHCO +45.28% YtD
- SKYWAY +39.01%
- UNILEVER +28.17% YtD
- NEM +23.29% YtD
The NGX has experienced mixed performance in Q1 2025, with the All-Share Index showing a modest increase.
However, several stocks have outperformed the market, showing impressive gains and investor confidence.
Investors will need to assess ongoing performance and market dynamics to determine whether these rallies can be sustained in the long term.
