The Nigerian equities market delivered a strong 29.35% return to investors in Q1 2026, rising in value from N99.38 trillion at the start of the quarter to N129.2 trillion by the end.

Tracked by the All-Share Index (ASI), trading activity remained strong, with over 52 billion shares exchanged, marking the sixth consecutive quarter of growth since Q3 2024.

The market also reached a historic milestone, crossing the 200,000-point threshold for the first time, as the ASI rose by 45,674.8 points from 155,612.9 to 201,287.8.

This rally was largely driven by large-cap stocks, particularly those within the NGX 30 Index, with 23 out of the 30 constituents closing the quarter in positive territory.

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Among these gainers, seven large-cap companies delivered returns exceeding 50%, while 16 NGX 30 stocks posted gains above 20%, reflecting strong investor appetite.

While the ASI captures the broader market, the NGX 30 Index focuses on the most liquid and capitalized stocks, whose movements significantly influence overall market direction.

This report highlights the top 10 best-performing NGX 30 stocks in Q1 2026, ranked by their share price appreciation during the first quarter.

Stanbic IBTC Holdings Plc (33.10%)

Stanbic IBTC Holdings Plc ranks 10th among top performers, delivering a 33.10% return in Q1 2026, as its share price rose from N100 to N133.1, with 105 million shares traded.

  • The banking stock recorded consistent gains throughout the quarter, opening January with an 8% increase, advancing further in February, and maintaining its upward trend into March.
  • By February, the stock reached N122, marking its strongest monthly performance with a 12.96% gain, before closing higher at N133.1 at the end of March.

The rally likely was supported by strong financial results, following the release of its unaudited 2025 full-year report, which showed a pre-tax profit of N552 billion, up 81.6% year-on-year.

This growth was driven mainly by interest income of N787.05 billion, which accounted for 88% of gross earnings.

The stock is now up 47% year-to-date, with a market value of N2.19 trillion.

PrescoPlc (36.55%) 

Presco Plc secured the 9th position among top NGX 30 performers, delivering a 36.55% return in Q1 2026, as its share price moved from N1,450 to N1,980, with over 31 million shares traded.

  • The stock showed a mixed but largely positive performance across the quarter, opening January with a 12.76% gain and extending its momentum into February.

February marked its strongest month, as the stock surged 41.61% to reach a peak of N2,315.4 per share, reflecting strong buying interest and heightened market activity.

However, March saw some profit-taking, which dragged the price below the N2,000 level, closing the quarter at N1,980, down 335.4 points from its intra-quarter high.

Investor sentiment was likely supported by its unaudited FY2025 results released in late January, which showed pre-tax profit rising 57.3% to N178.5 billion from N113.5 billion, driven by improved operational efficiency and stronger revenue performance.

Year-to-date, the stock is up 36.55%, with a market capitalization of N2.31 trillion

MTN Nigeria Communications (48.73%)

 

MTN Nigeria Communications ranks 8th on the list, delivering a 48.73% return in Q1 2026, as its share price rose from N511 to N760, with over 279 million shares traded.

  • The stock saw its strongest momentum in February 2026, when it surged by 32.87%, breaking above the N700 level for the first time in its trading history.
  • March, however, was relatively stable, closing flat at 0.00%, as the rally paused after the sharp mid-quarter gains.

Investor confidence was likely supported by the company’s FY2025 financial results, which showed a dramatic turnaround to a pre-tax profit of N1.70 trillion, compared to a loss of N550.3 billion in 2024.

This performance was driven by robust service revenue growth, with total service revenue rising 55.1% to N5.17 trillion, led by data revenue growth of 74.5% to N2.78 trillion, alongside gains in voice and fintech operations.

Year-to-date, the stock is up 45.79% as of 13 April 2026, and despite volatility, MTN remains one of the most valuable companies on the NGX, with a market capitalization of N15.64 trillion.

Zenith Bank Plc (55.02%)

Zenith Bank Plc ranks 7th among the top NGX 30 performers, delivering a 55.02% return in Q1 2026 as its share price advanced from N61.80 to N95.80, with over 2.4 billion shares traded, highlighting strong liquidity.

The Tier-1 lender maintained consistent positive momentum throughout the quarter, closing all three months in the green and reflecting steady investor confidence.

  • It opened January with a 15.61% gain and extended its rally in February, its strongest month, rising over 27% to reach N91.00 per share.
  • In March, the stock briefly approached the N100 level for the first time in its history, before late-quarter profit-taking pulled it back toward the N95 range.

The performance was likely fueled by solid financial results, with post-tax profit rising modestly to N1.04 trillion, driven by strong interest income growth to N3.6 trillion, largely from customer loans and treasury bill investments.

Year-to-date, Zenith Bank has continued its strong run, returning over 82% and trading above N112, with a market capitalization of N4.59 trillion

SeplatEnergy (56.65%) 

Seplat Energy delivered a 56.65% gain over the quarter, as its share price advanced to N9,099.9, supported by a volume of 9.4 million units.

The oil and gas heavyweight saw most of its momentum concentrated in the early and mid-quarter months, reflecting strong buying interest in the sector.

  • January began on a steady note, with the stock pushing through the N6,000 resistance level to close at N6,700, setting the tone for a stronger February.
  • February brought a sharp acceleration, as the stock broke above the N9,000 mark, gaining 35.82% to close at N9,099.9, while March remained largely flat.

Performance was likely driven by strong FY2025 results, where revenue surged to N4.1 trillion from N1.6 trillion, while pre-tax profit rose to N755.5 billion from N394.6 billion, driven mainly by crude oil sales, which accounted for over 91% of total revenue.

Year-to-date, Seplat Energy has extended its gains to over 64%, priced at N9,550, with a market capitalization of N5.72 trillion.

OkomuOil Palm (61.19%) 

Okomu Oil Palm occupied the 5th position with a 61.19% quarterly return, as its share price advanced from N1,095.0 to N1,765.0, with over 18 million units traded during the period.

The stock stood out as the strongest agro-based performer, with most of its activity concentrated in the first two months of the year.

  • It opened January with a steady climb from N1,095 to N1,206.5, laying the groundwork for a much stronger rally in the following month.
  • February delivered the bulk of the gains, surging 46.29% and breaking decisively above the N1,700 level, while March saw a pause in momentum with a flat close of 0.00%.

The rally was likely supported by its FY2025 financials, which showed pre-tax profit rising to N90.6 billion from N53.5 billion, driven by a 52.18% increase in revenue to N198.1 billion, boosted by strong palm, rubber, and oil processing sales across both domestic and export markets.

Year-to-date, the stock held steady at N1,765 into March and early April, with a market capitalisation of N1.68 trillion reflecting its sustained investor interest.

Lafarge Africa Plc (63.5%)

Lafarge Africa Plc placed 4th after delivering a 63.5% return in Q1 2026, as its share price rose to N219.9, with over 378 million units traded.

The cement maker giant gained momentum early, advancing 16.73% in January to N157, which set the tone for further gains in the following months.

By February, the stock had cracked the N200 mark, while March saw it strengthen further, closing at N219.9 after a 9.95% increase.

This performance was likely backed by solid FY2025 results, with revenue climbing 53% to N1.1 trillion, and profit after tax surging 173% to N273 billion.

Year-to-date, the stock has extended its gains to over 73%, with a market capitalization of N3.7 trillion, reflecting continued investor interest.

Nestlé Nigeria Plc (73.39%)

Nestlé Nigeria Plc sits in 3rd spot among the top performers, delivering a 73.39% return in Q1 2026, as its share price climbed from N1,958 to N3,395, with over 12 million units traded.

The stock recorded a steady upward run throughout the quarter, closing each month in positive territory and reflecting consistent investor demand.

  • February drove the bulk of the gains, with a sharp 43.93% surge that pushed the stock above the N3,000 mark for the first time ever.
  • The upward trend continued into March, where the price advanced by 9.52% to settle at N3,395 by the end of the quarter.

This performance was likely supported by stronger financials, with revenue rising to N1.2 trillion from N958.8 billion, largely driven by domestic sales of N1.19 trillion, while pre-tax profit rebounded to N166.8 billion from a loss position of N221.5 billion.

Year-to-date, the stock has eased slightly to a 66% return, trading at N3,249 as of mid-session on 13 April 2026, with a market capitalisation of N2.5 trillion.

BUA Cement Plc (83.03%)

BUA Cement Plc holds the 2nd spot among top performers, delivering an 83.03% return in Q1 2026, as its share price surged from N178.5 to N326.7, with over 77 million units traded.

  • The stock recorded gains across all three months, beginning in January with a modest 2.52% rise to N183, setting a stable base for further growth.
  • Momentum strengthened in February as the price climbed to N219, before a sharp acceleration in March drove a 49.18% surge to N326.7, marking its strongest monthly performance.

This rally was likely driven by impressive FY2025 results, with pre-tax profit jumping 367% to N465.28 billion from N99.63 billion recorded in 2024.

Revenue also grew significantly, rising 34.56% to N1.18 trillion from N876.47 billion, reflecting strong demand and improved operational performance.

Year-to-date, the stock remains up 83.03%, holding steady at N326.7 as April trading has been flat so far, while market capitalization stands at N11 trillion.

AradelHoldings Plc (88.06%) 

Aradel Holdings Plc leads the pack with an 88.06% return in Q1 2026, as its share price climbed from N670.06 to N1,260, supported by over 193 million units traded.

The stock began the year on a strong note, gaining 16.45% in January to close at N780.2, reflecting early investor interest.

Momentum accelerated in February, where it broke above the N1,000 mark to close at N1,084, before extending gains further in March to reach N1,260.

This performance was backed by solid FY2025 results, with pre-tax profit rising 46.5% to N463.71 billion from N316.77 billion, driven by sustained revenue growth.

Crude oil revenue increased by 18% to N440.1 billion, supported by higher production volumes and improved evacuation systems, while total crude sales rose to 4.1 million barrels.

Year-to-date, the stock has climbed further to a 90.9% return, trading at N1,279, with a market capitalization of N5.55 trillion.