In the third quarter of 2025, the Nigerian stock market put on a strong show, with the All-Share Index returning 18.95% to investors.
The index opened the quarter at 119,980.4 points and gained 22,731.9 points to close at 142,710.5.
This was the market’s best quarter of the year so far, and the third strongest since 2020, behind only the 39.84% rally of January 2024 and the 50.05% surge in October 2020.
Although every month ended in the green, July carried most of the weight, driving a strong 16.57% gain as sectors across the board rallied.
- By performance, the NGX Insurance Index led with a 57.65% surge in Q3, followed by Industrial Goods at 39.32%.
- Consumer Goods climbed 27.89%, Banking advanced 18.25%, while Oil and Gas closed with a modest 3.51% gain.
With the broader market on a roll, the spotlight now turns to the top 10 stocks that fueled the rally.
Here they are:
AIICO Insurance Plc, a major player in Nigeria’s insurance sector, ranks 7th with a 121.52% gain in Q3.
The stock opened the quarter at N1.58, traded 2.3 billion shares, and closed at N3.50, reflecting strong Q3 momentum in the insurance sector.
August was the standout month, surging 91.47% after a milder gain in July, while September saw a 13.37% pullback.
Despite the September dip, Q3 marked the company’s strongest quarterly performance since 2012.
The rally was likely fueled by H1 2025 results, which showed insurance revenue up 34% to N65.4 billion, premiums rising 8.17% to N94 billion, and paid claims increasing slightly to N43.3 billion from N42.5 billion in 2024.
AIICO Insurance shares are up over 181% year-to-date.
