Best performing Nigerian stocks for the week ended April 24, 2026

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By Boluwatife Oshadiya|27th, April,2026

The Nigerian equities market delivered one of its most impressive weekly performances in recent times, as the Nigerian Exchange (NGX) surged to new highs for the week ended April 24, 2026.

The All-Share Index (ASI) climbed by 8,554.92 points, closing at 225,722.49, representing a 3.94% week-on-week gain. Notably, the index breached the 220,000 psychological threshold for the first time, signaling strong investor confidence and sustained bullish sentiment.

Market activity mirrored this optimism. Total traded volume rose to 3.8 billion shares across 297,202 deals, while market capitalisation expanded to ₦145.3 trillion, reinforcing the depth of participation across institutional and retail investors.

From a broader lens:

• Year-to-date return: 45.05%
• Month-to-date gain: 12.14%
• Winning streak: 14 consecutive sessions

This sustained rally has been largely driven by large-cap banking and industrial stocks, alongside renewed interest in consumer goods equities.

Weekly Market Breakdown: Momentum Built Gradually

The rally was not accidental—it was constructed steadily across the trading week:

• Monday: +0.4%, pushing the index above 218,000
• Wednesday: +0.61%, crossing 219,000
• Thursday: Breakout moment—index surged past 220,000
• Friday: +1.30%, closing strong at 225,722

This pattern reflects progressive accumulation, a classic bullish signal often associated with institutional buying.

Sector Performance: Broad-Based Gains Across the Board

Virtually all sectors recorded gains, underscoring the widespread nature of the rally:

Industrial Goods (+7.70%)

Driven by:

• Lafarge Africa (+21.36%)
• Dangote Cement (+8.14%)
• BUA Cement (+2.54%)

Banking (+6.81%)

Key drivers included:

• First HoldCo (+17.19%)
• Ecobank (+15.90%)
• Wema Bank (+15.10%)
• UBA (+14.58%)

Consumer Goods (+5.25%)

Supported by:

• BUA Foods (+7.93%)
• Nigerian Breweries (+2.26%)
• Strong moves in Nascon, PZ Cussons, and Unilever

Oil & Gas (+0.86%) and Insurance (+0.40%)

More modest gains, but still positive—indicating market-wide bullish breadth.

Top 10 Best Performing Nigerian Stocks

Here are the standout equities that delivered exceptional returns during the week:

1. UACN Plc (+42.00%)

UACN emerged as the week’s top gainer, closing at ₦142.00. The sharp rally suggests renewed investor positioning, possibly linked to restructuring expectations and improved earnings outlook.

2. Union Dicon Salt Plc (+32.73%)

Closing at ₦21.90, the stock benefited from strong momentum within the consumer goods segment, where defensive plays are regaining attention.

3. Nascon Allied Industries Plc (+32.63%)

At ₦206.90, Nascon’s surge aligns with broader interest in FMCG stocks, particularly those with strong distribution networks and pricing power.

4. Trans-Nationwide Express Plc (+30.58%)

The logistics firm climbed to ₦7.90, reflecting speculative buying and renewed interest in underpriced small-cap stocks.

5. Zichis Agro Allied Industries Plc (+25.71%)

Closing at ₦15.60, Zichis continues to attract attention in the agro-processing segment, a sector increasingly tied to food security narratives.

6. Chemical & Allied Industries Plc (+24.74%)

At ₦118.50, gains were likely driven by industrial sector momentum and improved demand outlook.

7. Lafarge Africa Plc (+21.36%)

Closing at ₦294.90, Lafarge was a major contributor to the industrial goods rally, supported by infrastructure demand expectations.

8. PZ Cussons Nigeria Plc (+18.81%)

The stock ended at ₦92.20, benefiting from consumer goods sector recovery and brand strength.

9. First HoldCo Plc (+17.19%)

Closing at ₦75.00, the banking giant remains a cornerstone of the rally, backed by strong earnings and capital positioning.

10. Unilever Nigeria Plc (+17.13%)

At ₦121.00, Unilever’s gain reflects renewed confidence in multinational consumer brands operating in Nigeria.

Market Losers: A Reminder of Volatility

Despite the bullish trend, some stocks recorded steep declines:

• Infinity Trust Mortgage Bank (-50.79%)
• Abbey Mortgage Bank (-33.33%)
• Guinea Insurance (-15.20%)
• Stanbic IBTC Holdings (-13.82%)

The losses were largely concentrated in mortgage banking and insurance, sectors still grappling with structural and liquidity concerns.

Corporate Actions That Shaped Sentiment

Investor sentiment was further influenced by several key disclosures:

• Stanbic IBTC and UBA released FY2025 results
• Dangote Sugar announced plans to raise ₦500 billion in capital
• Multiple firms—including Unilever, BUA Cement, Nigerian Breweries, and Transcorp—published Q1 2026 earnings
• Wema Bank declared a ₦50.1 billion dividend
• United Capital approved ₦18 billion in shareholder payouts

These developments reinforced earnings visibility and dividend attractiveness, both critical drivers of equity demand.

What Investors Are Saying: Market Sentiment and Behaviour

Across investor communities and financial commentary platforms, a few consistent themes have emerged:

• “Banking stocks are still the safest momentum play” – reflecting strong capital adequacy and earnings growth
• “Industrial stocks are riding infrastructure expectations” – tied to government spending outlook
• “Consumer goods are staging a quiet comeback” – driven by pricing adjustments and inflation hedging

Retail investors, in particular, appear increasingly confident, with many rotating into mid- and small-cap stocks in search of alpha.

Key Insight: Why This Rally Matters

This marks the fourth consecutive week of gains since late March, when the market recorded a slight dip.

More importantly:

• The 14-session winning streak indicates sustained demand
• Large-cap leadership suggests institutional participation
• Broad sector gains point to healthy market breadth

If momentum in banking and industrial stocks persists, analysts expect the index to test and potentially exceed 226,000 points in the near term.

Final Takeaway: Strategy for Investors

This is not just a rally—it’s a structurally supported market upswing.

What smart investors are doing:

• Accumulating fundamentally strong large-cap stocks
• Selectively entering high-momentum mid-caps
• Monitoring earnings releases for confirmation signals

However, caution remains essential. The sharp declines in some stocks highlight that volatility has not disappeared—it has simply become selective.