2025 Biggest Winners: 40 Stocks Deliver Over 100% Returns To Investors

No fewer than 40 listed stocks on the Nigerian Exchange Limited (NGX) have made investors over 100 per cent richer in 2025.

The outperforming stocks, tracked across key sectors, have far surpassed the market’s benchmark index, which rose 48.12 per cent as at December 22, 2025.

Reviewing stocks’ performance as of December 22, 2025, showed that NCR Nigeria recorded a yearly gain of 1,354%. Beta Glass rose by 470.11 per cent, while Mutual Benefits Assurance rose by 408.20 per cent.

Champion Breweries posted a yearly gain of 339.63 per cent, while Eunisell Interlinked appreciated by 315.15 per cent. Ellah Lakes rose by 312.97 per cent, Guinness Nigeria rose by 312.38 per cent, Vitafoam Nigeria gained 311.30 per cent, Sovereign Trust Insurance 255.36 rose by 255.36 per cent, and NASCON Allied Industries rose by 254.07 per cent.

Others are SCOA Nigeria (244.66 per cent), Wema Bank (108.89 per cent), Julius Berger (119.75 per cent), Cadbury Nigeria (177.21 per cent), Honeywell Flour Mills (181.75 per cent), International Breweries (125.23 per cent), Nigerian Breweries (148.44 per cent), Nestle Nigeria (123.73 per cent), Unilever Nigeria (118.51 per cent), CWG (144.16 per cent), Tripple Gee & Company (115.61 per cent), MTN Nigeria Communications (165.85 per cent), FTN Cocoa & Processors (157.69 per cent), Okomu Oil (149.77 per cent), Presco (205.26 per cent), Nigerian Exchange Group (134.31 per cent), UACN (179.01 per cent), AIICO Insurance (174.83 per cent), Custodian Investment (105.26 per cent), NEM Insurance (131.05 per cent), NPF Microfinance Bank (119.30 per cent), UPDC (223.90 per cent), Fidson Healthcare (177.42 per cent), Neimeth International Pharmaceuticals (168.56 per cent), ABC Transport (156.01 per cent), Academy Press (143.33 per cent), Caverton Offshore Support Group (128.45 per cent), Ikeja Hotels (203.11 ) per cent, Nigerian Aviation Handling Company (137.79 per cent) and Skyway Aviation Handling Company (164.42 per cent).

Consolidating on its 2024 bullish performance, the NGX-All Share Index (ASI) delivered a year-to-date gain of 48.12 per cent as of December 22, 2025.

Analysts stated that market activity was initially subdued as investors rotated into fixed-income securities, attracted by elevated yields amid tight monetary conditions, saying that “sentiment improved as the year progressed, supported by robust corporate earnings, dividend payments, improved currency stability, and bargain hunting in fundamentally sound stocks.”

Afrinvest Limited said that “overall, 2025 recorded strong market participation, marked by sustained bullish sentiment punctuated by periodic profit-taking. Investor activity was buoyed by reform-driven developments, the implementation of key policies, and rising market awareness, collectively driving elevated trading volumes.”

The research firm noted that “July stood out as trading volumes spiked significantly and market activity peaked, reflecting the year’s most substantial rally. This surge was primarily driven by increased buying in fundamentally strong stocks, boosted by robust corporate earnings releases, as well as heightened interest in insurance tickers following the signing of the Nigerian Insurance Industry Reform Act (NIIRA) 2025 by the President.

“Trading activity also picked up notably in September, fueled by continued optimism in key sectors and renewed investor confidence.”

On the 2026 outlook, Afrinvest stated that “2026 is constructive, anchored by favourable macroeconomic and market dynamics. In our base case scenario, we project a 40.9 per cent gain in the NGX-ASI, supported by sustained price and naira stability, gradual monetary policy easing, improved corporate earnings, elevated pre-election liquidity, and aggressive capital mobilisation by insurance companies and PFAs, with additional upside from anticipated listings such as Dangote Petrochemicals.

“Upside risks include sharper disinflation and stronger FX inflows, while downside risks stem from renewed inflationary pressures, FX volatility, weak foreign participation, and delays in expected listings.”