Top 10 most profitable Nigerian stocks in April 2026

The Nigerian equities market delivered an outstanding performance in April 2026, with total market capitalization rising to N155.9 trillion as the market returned 20.36% over the month.

Opening at 201,287.9 points, as tracked by the All-Share Index, the market advanced on strong trading activity exceeding 16 billion units to close at a record 242,277.8 points.

The rally was driven by solid participation across mid- and large-cap stocks, with April’s traded volume second only to February’s 21 billion units, while surpassing its 16.6% return.

A defining feature of April’s performance was the strong showing of large-cap, trillion-naira companies among top gainers, in contrast to March when mid-cap stocks dominated the top 10.

The market has now sustained a five-month winning streak since December 2025, pushing first-half returns to 55.69% and nearing the 64.51% achieved in the second half of 2020.

Among the stocks that powered the rally, several equities stood out, earning spots among the top 10 best-performing companies for the month.

Chemical & Allied Products (45.49%)  

Chemical & Allied Products Plc ranked 10th among April’s top performers, delivering a 45.49% return on the Nigerian Exchange, with more than 34 million shares traded during the month.

• The stock opened at N99.80 and gained momentum in the penultimate week, breaking a N109 resistance level set in February before surging 22.53% in the final week to close at N145.2.

This was likely driven by stronger financial performance, as the company declared a N4 dividend for FY2025 in late March 2026, up from N2.4 in FY2024, following pretax profit growth to N9.1 billion from N6.06 billion.

The earnings growth was largely driven by stronger paint sales, with revenue reaching N44.8 billion, while momentum continued into Q1 2026 as pretax profit rose 39.71% year-on-year to N2.3 billion.

Year-to-date, the company has returned over 131% on the Nigerian Exchange, with its share price climbing further to N159.7, reflecting sustained investor interest.

The Initiates (45.71%)

The Initiates Plc occupied the 9th position among April’s top gainers, delivering a 45.71% return on the Nigerian Exchange, with over 77 million shares traded.

• It started the month at N21.00, slipped to N18.50 in early trading, then recovered as sentiment improved in the second half.
• Momentum strengthened as it moved above N20 and rose to N23, before a 33.04% final-week surge pushed it past N30 for the first time, closing at N30.60.

The rally was likely supported by FY2025 results, published in late March 2026, which showed pretax profit rising to N5.07 billion from N2.05 billion on N11.6 billion revenue from industrial cleaning and waste management services.

This strength continued into Q1 2026, where revenue rose 196.68% year-on-year to N3.5 billion and pretax profit increased to N1.7 billion from N466.8 million.

Year-to-date, the stock has returned over 121% on the Nigerian Exchange, with its share price recently trading around N29.50.

Unilever Nigeria Plc (46.28%)  

Unilever Nigeria Plc ranked 8th among April 2026’s top gainers, returning 46.28% on the Nigerian Exchange with over 34 million shares traded.

• Opening at N94, the shares gradually gained momentum, crossing N100 in the first week and ending three of five trading weeks in positive territory, before closing the month at N137.5.

Stronger financials likely drove the surge, as FY2025 results published in late March 2026 showed pretax profit rising to N51.7 billion from N22.6 billion on N214.3 billion revenue, alongside a higher N3.25 dividend versus N1.25 in FY2024.

This momentum continued into Q1 2026, with pretax profit rising to N13.4 billion from N10.7 billion, reflecting sustained earnings growth, while year-to-date performance on the Nigerian Exchange stands at 90.97%.

Union Dicon Salt Plc (52.08%)  

Union Dicon Salt Plc placed 7th among April 2026’s top gainers, delivering a 52.08% return on the Nigerian Exchange with over 6.5 million shares changing hands.

• The stock opened at N14.40 and traded quietly early on before demand picked up, lifting it from N14 to N16.50 and driving a final-week close at N21.90, its monthly high.

The FY2025 results showed pretax profit of N131.1 billion, rebounding from a N102.4 million loss in FY2024, supported by N417.8 million in other operating income, largely rental-driven, while salt sales improved to N11.8 million from no revenue previously.

On a year-to-date basis, the stock has returned over 217%, with shares still trading around N21.90 as of May 5, 2026.

Lafarge Africa Plc (59.16%)  

Lafarge Africa Plc ranked 6th among April 2026’s top gainers, returning 59.16% on the Nigerian Exchange with over 164 million shares traded.

• Starting from N219.90, the stock maintained a firm upward bias throughout the month, consistently finishing each week in the green as buying pressure steadily built, before finally closing at N350.

This was likely driven by FY2025 results, where pretax profit rose to N411 billion from N152 billion in FY2024, supported by N1.06 trillion in cement sales revenue, alongside a final dividend of N6 per share.

The positive performance extended into Q1 2026, with pretax profit rising to N149.1 billion from N73.1 billion, while revenue increased to N334.8 billion.

Year-to-date, the stock is up 159.48% on the Nigerian Exchange, currently trading around N349.

ZichisAgro Allied Industries (59.56%)

Zichis Agro Allied Industries Plc ranked fifth among top-performing stocks in April 2026, delivering a strong 59.56% return on the Nigerian Exchange, with trading volume exceeding 110 million shares.

• The stock started at N13.65 and traded sideways for most of the period, before late buying pressure pushed it above the N13.80 resistance level.
• Momentum built quickly in the final stretch, with the share price closing at N15.60 before rallying to N21.80.

Investor sentiment strengthened after Q1 2026 results showed pretax profit of N241.4 million, up 690% year-on-year, while revenue rose 256% to N420 million.

Overall, from a listing price of N1.81 in January, the stock has surged by over 1,265%, trading above N24 in mid-session on May 5, 2026.

Aradel Holdings (60.63%)

Aradel Holdings Plc placed fourth among April 2026’s top gainers, posting a 60.63% return on the Nigerian Exchange, with total traded volume exceeding 63 million shares.

• Starting the month at N1,260, the stock showed little movement in the opening week, before gradually shifting into an upward trend as buying interest improved.
• Stronger price action emerged later, with the stock breaking above N1,500 in the third week and accelerating past the N2,000 level to settle at N2,024.

The upward move aligned with the release of its unaudited results for the financial year ended December 31, 2025.

The company posted a pre-tax profit of N463.71 billion, representing a 46.5% increase from the prior year, alongside a 20% rise in revenue to N697.30 billion.

Year-to-date, the stock has advanced by 180% and is currently priced above N1,880 as of 5 May 2026.

Ecobank Transnational Incorporated(75.22%)

Ecobank Transnational Incorporated ranked third among top-performing stocks in April 2026, delivering a 75.22% return on the Nigerian Exchange, with over 108 million shares traded.

• Initially, the stock opened at N46 and moved with limited momentum in early April before sentiment began to shift.
• From there, buying pressure intensified, pushing the stock up 46.30% in the week ended April 18, 2026, to N67.30.
• Building on this momentum, the rally extended into the final stretch, lifting the share price to a record high of N80.60 for the first time.

This strong performance was likely supported by its FY2025 results released on April 14, 2026, which showed pretax profit of N1.2 trillion, up 24% year-on-year, alongside a 0.16 US cents dividend.

Furthermore, Q1 2026 results reinforced the trend, with pretax profit rising to N270.2 billion, up 1% year-on-year, while year-to-date gains reached 92.48% at N80.65 per share.

UAC of Nigeria(83.33%) 

UAC of Nigeria Plc secured the second spot on the April 2026 leaderboard, delivering an 83.33% return on the Nigerian Exchange with over 40 million shares traded.

• It began the month at N99 per share, moving gradually at first before sentiment shifted decisively toward the end of the period.
• By the third week, the stock had powered through the N115 resistance level, closing at N142 as momentum started to build more intensely.
• That rally strengthened further in the final trading week, lifting the price sharply to N181.50, which also marked its monthly peak.

From a financial perspective, FY2025 pre-tax profit eased to N16.4 billion from N25.5 billion, though the company lifted its dividend to N1 per share from N0.2 previously.

In contrast, Q1 2026 showed a rebound in profitability, with pre-tax profit rising to N22.5 billion from N5.04 billion year-on-year and revenue at N191.2 billion, while year-to-date gains reached 108.79% at N190 per share.

Trans-Nationwide Express(125.35%) 

Trans-Nationwide Express Plc topped the April 2026 performance chart, posting a 125.35% gain on the Nigerian Exchange, with over 16 million shares traded during the period.

• The stock began the month at N2.84, showing no movement in the first week before gradually gaining traction in subsequent sessions.
• By the second week, it advanced to N3.77, then accelerated sharply with a 60.48% jump in the third week as demand intensified.
• The rally peaked in the penultimate week, when the share price broke decisively above N7.90 before receding to a final-week close of N6.40.

This was likely driven by a recovery in Q1 2026 results, with loss before tax narrowing significantly to N34.1 million from N51.4 million, while year-to-date performance showed a 197.67% gain on the NGX.