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The NGX Premium Index ended 2025 higher than the broader Nigerian All-Share Index, rising 59.40% to 15,493.2 points, a gain of 5,773.4 points.
After opening the year at 9,719.8 points, the sub-index pushed past the 15,000 level, supported by trading activity of over 32 billion shares.
Over the same period, the All-Share Index rose 51.19%, or 52,686.6 points, to close at 155,613, leaving the Premium Index ahead on a year-to-date basis.
July drove the third-quarter rally, with the Premium Index gaining 26.74% in the month and lifting Q3 performance to an 18.19% return, the strongest quarter of the year.
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The NGX Premium Index tracks Nigerian Exchange companies with strong governance and liquidity, requiring at least N40 billion free float, N200 billion market capitalisation, and a 70% governance score to support investor confidence.
For full-year 2025, gains were broad, with seven of the eight premium stocks ending the year in positive territory.
Seplat(1.91%)
Seplat finished 7th among the premium stocks, gaining 1.91% in 2025, closing at N5,809 from N5,700.
Compared to its massive 146.75% year-to-date gain in 2024 on 29 million shares, 2025 was milder, with 19.2 million shares traded.
The stock was mostly flat in the first half, dropping 12.91% in May to N4,964 before rebounding 9.78% in June to N5,450.
Prices remained steady from July to September, but October brought a 10% gain to N5,917. However, minor declines in November and December left it at N5,809.
Seplat posted a 9-month post-tax profit of N146.6 billion, more than double the N52.7 billion in the same period of 2024.
Market capitalization is currently at N3.3 trillion, representing 3.36% of the ASI’s N99.9 trillion size.
UBA (22.59%)
Occupying the sixth spot, UBA advanced 22.59% in 2025, closing at N41.65 from an opening of N33.98.
While this is slightly lower than its 32.59% year-to-date gain in 2024, trading volume also fell to 6 billion shares from 8 billion.
The stock started January on a high note with a 10.88% gain, but slipped to N35 in April. H1 ended with a modest 4.12% gain at N35.35.
However, the second half drove most of the yearly performance:
- July surged 40.21% to N49.60, though prices fell to N36.45 over the next four months.
- December delivered a strong 14.27% rally, closing the year at N41.65.
For the first nine months of 2025, UBA reported a post-tax profit of N537.5 billion, up 2.33% year-on-year, supported by a 10.1% rise in interest income to N1.98 trillion.
Its market capitalization stands at N1.76 trillion, representing 1.76% of the total market cap.
Dangote Cement (27.19%)
In fifth place, Dangote Cement rose 27.19% in 2025, closing at N609 from N478.9, comfortably breaking both the N500 and N600 levels. Trading was robust, with volume surging to 248 million shares, up from 56 million in 2024.
The year began slowly, with a modest 0.25% gain in Q1, followed by a Q2 decline of over 8% to N440.
- The second half powered the rally: July saw a 20% jump to N528.3, and by October the stock had reclaimed N600, up 25.69%.
- Minor losses in November did little to shake its momentum, and Dangote Cement held above N600 through year-end.
Financially, the company recorded a 9M profit before tax of N1.04 trillion, a 156.2% increase from 2024, on revenue of N3.15 trillion, up 23.2%.
Dangote Cement’s market capitalization now stands at N10.2 trillion, representing 10.28% of the Nigerian Exchange market.
Zenith Bank (35.82%)
Zenith Bank ended 2025 with a 35.82% gain, closing at N61.80 from N45.50. Trading was slightly higher than in 2024, with 6.6 billion shares exchanged.
The stock began the year with a slow 3.3% gain in Q1, but Q2 saw a stronger 21.17% rise to N56.95, largely driven by June activity.
The bulk of the gains occurred in the second half, with July surging 34.33% to N76.50. However, subsequent declines lowered the price to N60 by November, but a 3% rally in December brought it back to N61.80.
Zenith Bank reported a 9M 2025 pre-tax profit of N917.4 billion, driven by a 40.7% increase in interest income to N2.74 trillion, compared with N1.95 trillion in 2024.
Its market capitalization currently stands at N2.6 trillion, representing 2.65% of the total market.
First HoldCo (70.77%)
First HoldCo delivered a strong 70.77% gain in 2025, closing the year at N47.90 from N28.05, just shy of the N50 mark. The stock started the year slowly, rising to N28.15 by March before dipping to N26 by June.
Momentum returned in July, lifting the price 24% to N32.25, though trading remained choppy afterward. December brought the biggest boost, with a 54.27% surge pushing the stock to close at N47.90.
On the financial side, First HoldCo posted a 9M pre-tax profit of N566.5 billion, down 7.26% from N610.86 billion in 2024. Core performance remained solid, however, with net interest income after impairments jumping 72.48% year-on-year to N1.21 trillion, supported by rising interest rates.
The company’s market capitalization stands at N2.04 trillion, representing 2.04% of the total market.
Lafarge (92.28%)
Lafarge claimed the second spot among premium stocks in 2025, rising 92.28% to close at N134.5 from N69.95, comfortably surpassing the N100 mark. Trading remained strong, though slightly below the 2024 performance of 122%.
The stock gained modestly in the first half, rising 5.5% in Q1 and 18.16% in Q2 to N87.20. July proved to be the breakout month, surging 70.87% to N149. Despite some volatility in the following months, Lafarge held above N130 at year-end.
On the financial front, Lafarge reported 9M 2025 revenue of N780.48 billion, up 63% from N479.49 billion in 2024. Profit after tax soared 246% to N207.78 billion, driven by higher volumes, operational efficiency, and Naira stability.
The company’s market capitalization stands at N2.16 trillion, representing 2.17% of the total market.
MTN Nigeria (155.50%)
MTN Nigeria Communications led the market in 2025, surging 155.50% to close at N511 from N200, marking its highest-ever price.
The rally began in Q1 with a 22.5% gain, followed by a strong Q2 breakout that saw the stock surpass N300, up 45.92%, with June standing out as a key month.
July pushed shares further to N472, before a brief pullback to N423 between August and September. A 22.96% rally in October carried MTN past N500, and it maintained this momentum to finish the year at N511.
On the financial side, MTN recovered from a N713.6 billion loss in 2024 to post a 9M 2025 pre-tax profit of N1.12 trillion. Revenue hit N3.73 trillion, led by data services, which grew 73% year-on-year to N1.97 trillion and contributed over 53% of total revenue.
The company’s market capitalization now stands at N10.72 trillion, representing 10.73% of the Nigerian Exchange market.
