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Fifteen stocks listed on the Nigerian Exchange have delivered returns of more than 100% since the start of 2026, with the weakest performer still gaining almost twice as much as the broader market year-to-date.
Data compiled by Nairametrics Research from share price, trading and financial data published by the Nigerian Exchange (NGX) covers the period from January 2, 2025, to August 14, 2026 closing price.
The NGX All-Share Index gained 55.91% over the same period, meaning every stock on this list has outperformed the benchmark by at least 46 percentage points. Trading activity figures including number of trades and volume reflect data for August 14, 2026 only.
The 15 stocks span 10 sectors, from banking and oil and gas to industrial goods, consumer goods, and healthcare. Returns range from 101.94% at the lower end to 365.49% at the top.
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Below is a breakdown of the stocks.
15. Morison Industries Plc (101.94%)
Morison Industries Plc opens the ranking with a year-to-date return of 101.94%, with its share price rising from N5.15 at the end of 2025 to N10.40 as of August 14, 2026. The stock hit a 52-week high of N13.27 and a 52-week low of N3.22 during the period.
Revenue for H1 2026 was N274 million, up 21.42% from N226 million in H1 2025, though the company recorded a loss after tax of N10.28 million, deepening from a loss of N4.33 million in the prior-year period.
The gain comes despite a trailing EPS of negative N0.03. Morison lost money in four of the past five years, returned to a small N12.3 million profit in 2025, then slipped back into a loss in Q1 2026.
The company trades at approximately 10.58 times book value and 25.42 times sales. Its 2025 accounts were delayed, and the auditor highlighted material uncertainty over its ability to continue as a going concern, with accumulated losses of approximately N903.9 million. On August 14, the stock recorded 3 trades and a volume of 509 units.
14. Julius Berger Nigeria Plc (103.27%)
Julius Berger Nigeria Plc returned 103.27% year-to-date, with its share price climbing from N152.90 to N310.80, touching a 52-week high of N315.00 and a 52-week low of N122.90.
Revenue for H1 2026 was N424.56 billion, up 23.62% from N343.45 billion in H1 2025, reflecting improved contract activity. Profit after tax of N6.06 billion declined 14.70% from N7.11 billion in the prior-year period, pointing to higher costs relative to the revenue growth.
On August 14, the stock recorded 35 trades and a volume of 1,978 units.
13. Red Star Express Plc (106.90%)
Red Star Express Plc returned 106.90% year-to-date, with its share price rising from N8.70 to N18.00. The stock hit a 52-week high of N38.25 and a 52-week low of N8.70, meaning its opening price was also its 52-week low.
Revenue for H1 2026 was N6.45 billion, up 21.92% from N5.29 billion in H1 2025, while profit after tax of N221 million grew 7.01% from N207 million.
On August 14, the logistics company recorded 35 trades and a volume of 64,341 units.
12. Vitafoam Nigeria Plc (110.87%)
Vitafoam Nigeria Plc returned 110.87% year-to-date, with its share price rising from N92.00 to N194.00. The stock hit a 52-week high of N210.00 and a 52-week low of N64.17.
Revenue for H1 2026 was N91.21 billion, up 7.47% from N84.87 billion in H1 2025, while profit after tax of N13.63 billion grew 45.42% from N9.37 billion, reflecting meaningful margin improvement on modest revenue growth.
On August 14, the consumer goods manufacturer recorded 38 trades and a volume of 106,271 units.
11. International Energy Insurance Plc (112.80%)
International Energy Insurance Plc returned 112.80% year-to-date, with its share price rising from N2.50 to N5.32. The stock hit a 52-week high of N9.64 and a 52-week low of N2.12.
Revenue for H1 2026 was N1.17 billion, down 49.74% from N2.33 billion in H1 2025, while profit after tax of N160 million declined 70.53% from N543 million, reflecting a sharp deterioration in underlying financial performance despite the strong share price gain.
On August 14, the insurance carrier recorded 274 trades and a volume of 1,582,739 units, the third highest volume on the day among the 15 stocks.
10. NCR (Nigeria) Plc (121.73%)
NCR (Nigeria) Plc returned 121.73% year-to-date, with its share price climbing from N72.70 to N161.20. The stock hit a 52-week high of N199.00 and a 52-week low of N9.55, a wide range indicating significant price volatility during the period.
Revenue for H1 2026 was N1.24 billion, up 37.58% from N900 million in H1 2025, while profit after tax of N144 million grew 221.34% from N45 million in the prior-year period.
On August 14, the ICT company recorded 6 trades and a volume of 1,227 units, reflecting limited activity on the day.
9. Aradel Holdings Plc (127.88%)
Aradel Holdings Plc returned 127.88% year-to-date, with its share price rising from N670.00 to N1,526.80. The stock hit a 52-week high of N2,024.00 and a 52-week low of N510.00, with the current price sitting well below its peak, reflecting the mid-year correction that pulled back gains from May.
Revenue for H1 2026 was N2.49 trillion, up 576.88% from N368.08 billion in H1 2025, driven by the consolidation of acquired assets. Profit after tax of N191.05 billion grew 30.50% from N146.39 billion.
On August 14, the oil and gas company recorded 707 trades and a volume of 166,867 units, the third highest number of trades on the day.
8. HBM Nigeria Plc, formerly Lafarge Africa Plc (148.33%)
HBM Nigeria Plc, formerly known as Lafarge Africa Plc, returned 148.33% year-to-date, with its share price rising from N134.50 to N334.00. The stock hit a 52-week high of N389.90 and a 52-week low of N103.00.
Revenue for H1 2026 was N678.41 billion, up 31.23% from N516.98 billion in H1 2025, while profit after tax of N208.35 billion grew 57.03% from N132.68 billion, reflecting strong margin expansion alongside revenue growth.
On August 14, the industrial goods company recorded 1,108 trades and a volume of 1,309,157 units, the second highest number of trades on the day.
7. Airtel Africa Plc (177.53%)
Airtel Africa Plc returned 177.53% year-to-date, with its share price climbing from N2,270.00 to N6,300.00, touching a 52-week high of N6,300.00, meaning the stock closed at its highest level of the year on August 14. Airtel Africa reports in dollars.
Revenue for H1 2026 was $1.85 billion, up 31.0% year-on-year from $1.42 billion, driven by data revenue of $750 million (up 36.5%) and mobile money revenue of $434 million (up 38.9%). EBITDA of $928 million grew 36.6% with an EBITDA margin of 50.1%, up from 48.0%. Operating profit of $627 million rose 40.7%.
On August 14, the telecoms company recorded 153 trades and a volume of 19,072 units, with the low unit volume reflecting the stock’s high price per share.
6. First HoldCo Plc (192.28%)
First HoldCo Plc returned 192.28% year-to-date, with its share price rising from N47.90 to N140.00, touching a 52-week high of N150.00 and a 52-week low of N29.25.
Revenue for H1 2026 was N1.40 trillion, down 2.74% from N1.44 trillion in H1 2025, though profit after tax of N526.26 billion surged 85.45% from N283.77 billion, reflecting stronger profitability despite a modest revenue contraction.
The rally has coincided with improving earnings fundamentals and sustained insider accumulation, with Chairman Femi Otedola notably increasing his shareholding position during the period.
On August 14, First HoldCo was the most actively traded stock in the ranking, recording 1,902 trades and a volume of 19,551,659 units, the highest number of trades and the second highest volume on the day.
5. Premier Paints Plc (204.00%)
Premier Paints Plc returned 204.00% year-to-date, with its share price rising from N10.00 to N30.40. The stock hit a 52-week high of N37.50 and a 52-week low of N11.00.
Revenue for H1 2026 grew 8.65% year-on-year, while the company recorded a loss after tax of N8.07 million compared to a profit of N1.14 million in H1 2025, a reversal that sits in contrast to the tripling of its share price during the period.
On August 14, the industrial goods company recorded 12 trades and a volume of 14,569 units.
4. Berger Paints Plc (207.50%)
Berger Paints Plc returned 207.50% year-to-date, with its share price climbing from N48.00 to N147.60. The stock hit a 52-week high of N168.95 and a 52-week low of N32.00.
Revenue for H1 2026 was N10.35 billion, up 13.36% from N9.13 billion in H1 2025, while profit after tax of N1.25 billion grew 33.35% from N934 million, with both revenue and profitability moving in the same direction as the share price.
On August 14, the company recorded 42 trades and a volume of 15,387 units.
3. R T Briscoe Plc (231.43%)
R T Briscoe Plc returned 231.43% year-to-date, with its share price rising from N3.50 to N11.60. The stock hit a 52-week high of N19.16 and a 52-week low of N2.85.
Revenue for H1 2026 was N24.60 billion, up 50.70% from N16.32 billion in H1 2025, while profit after tax of N801 million grew 140.95% from N332 million, reflecting strong operational improvement alongside the share price appreciation.
On August 14, the services company recorded 37 trades and a volume of 509,892 units, the fourth highest volume on the day.
2. Union Dicon Salt Plc (244.20%)
Union Dicon Salt Plc returned 244.20% year-to-date, with its share price rising from N6.90 to N23.75. The stock’s 52-week high of N23.75 coincides with the August 14 closing price, meaning the stock ended the day at its highest level of the past year.
The company had no revenue reported for H1 2025, making a year-on-year comparison unavailable, while H1 2026 revenue stood at N13.01 million. Profit after tax of negative N8.37 billion represents a significant deterioration from a profit of N35.67 billion in H1 2025.
On August 14, the consumer goods company recorded 7 trades and a volume of 20,164 units.
1. SCOA Nigeria Plc (365.49%)
Leading the ranking is SCOA Nigeria Plc by 365.49% year-to-date returns, with its share price rising from N7.10 to N33.05, delivering a near-fivefold (4.65 times) increase from its opening price. The stock hit a 52-week high of N38.15 and a 52-week low of N6.00.
Revenue for H1 2026 was N4.93 billion, up 47.39% from N3.34 billion in H1 2025, though profit after tax of N147.93 million declined 54.67% from N326.34 million, suggesting revenue growth has not translated into improved profitability.
On August 14, the conglomerate recorded only 8 trades and a volume of 6,672 units, the second lowest trade count on the day.
More Insight
Fortis Global Insurance: The outlier behind the 1,215% gain
Fortis Global Insurance Plc stands out as a major outlier among the 15 NGX stocks, with a 1,215% year-to-date gain, far exceeding the next-best performer, SCOA Nigeria, which gained 365.49%.
Its share price rose from N0.20 to N2.63. The stock hit a 52-week high of N3.57 and a 52-week low of N0.22.
Revenue for H1 2026 was N1.55 billion, up approximately 1,600% from N91 million in H1 2025, though the company recorded a loss after tax of N3.17 billion, deepening from a loss of N1.11 billion in the prior-year period.
The extraordinary gain is complicated by context. Fortis has a trailing EPS of negative N0.13 and has recorded sustained losses from 2021 through Q1 2026. The rally is further complicated by a four-for-one share consolidation and the company’s return to trading after a six-year suspension.
A consolidation mechanically increases the price per share because ownership is divided among fewer shares and does not increase economic value, meaning part of the reported gain may reflect arithmetic rather than investor demand. Fortis also remains loss-making and is working to settle a N5.74 billion obligation linked to an old bond.
On August 14, Fortis recorded 122 trades and a volume of 874,083,112 units, accounting for 97.3% of the combined volume traded across all 16 stocks discussed in this analysis, with its low unit price making it accessible to retail participation at scale.
Why Fortis matters
Fortis’ performance illustrates an important distinction between share-price returns and underlying business performance.
A stock can record an extraordinary percentage gain from a very low base without a corresponding improvement in profitability or intrinsic value. In Fortis’ case, the interpretation is further complicated by the share consolidation and the resumption of trading following a prolonged suspension.
Its 1,215% gain is therefore best viewed as an exceptional market-price event rather than evidence that Fortis has fundamentally outperformed the other companies on the list.
