Which 10 Nigerian stocks gained the most in the first half of 2025?

In the first half of 2025, the Nigerian Exchange (NGX) saw a modest increase of 16.57%, which is lower compared to the 33.81% gain it had during the same time last year. Even so, ten stocks stood out with amazing results, each rising by over 100%. 

These gains were driven by strong earnings, changes in how investors value companies, increased speculation, and a shift in interest toward agriculture, healthcare, and industrial businesses.

Here are the top 10 highest gainers:

1. Beta Glass (+415%)

Beta Glass had the biggest rise,415%, making it the best performer. The company makes glass bottles for drinks and medicine. Its strong profits in the first quarter went beyond what experts expected, thanks to high demand from breweries and soft-drink makers.

The company also expanded its production and introduced green initiatives, which helped boost investor confidence. Now, people are watching to see if the company can keep growing.

2. Honeywell Flour Mills (+241%)

Honeywell Flour Mills gained 241%. Late last year, the company refreshed its brand, which helped rebuild trust among customers and increase sales.

It also made better deals for grain supplies and changed its supply contracts to save money. Investors got excited about its plan to enter the bakery market. Big investors also liked its stronger finances and tighter cost controls.

3. The Initiates Plc (TIP) (+230%)

The Initiates Plc, a consulting and training firm, grew 230%. The company saw unexpected profits and announced a surprising final dividend for 2024.

As businesses looked to train staff in a recovering economy, TIP made good money from new contracts. Investors were impressed by its ability to grow its client base in both government and private sectors.

4. Vitafoam (+222%)

Vitafoam gained 222% thanks to strong demand for mattresses, pillows, and cushions. The company beat profit expectations in the first quarter by finding better sources for materials and using its factories more efficiently.

A smart currency strategy also protected profits. Investors believe the company’s positive trend could continue into the second half of the year.

5. Smart Products Nigeria (+200%)

Smart Products Nigeria rose 200%, largely due to investor excitement. The company makes electronics and has plans to move into new areas like solar-power products.

Even though it doesn’t trade a lot of shares daily, its expansion plans caught the attention of investors, even though its financial performance still has room to grow.

6. Neimeth Pharmaceuticals (+185%)

Neimeth Pharmaceuticals climbed 185% as healthcare spending and vaccine programs grew in Nigeria. The company reported higher revenues in the first quarter, thanks to new medicines getting approved and wider distribution.

Analysts say its success comes from strong global partnerships and an expanding market for everyday medicines.

7. Fidson Healthcare (+183.87%)

Fidson Healthcare rose 183.87%, powered by strong profits and approvals for new medicines. It beat expectations in its regular drug business and plans to launch several new products by the end of the year. Investors were also happy to see the company exporting more to nearby West African countries.

8. Presco (+168%)

Presco, which produces palm oil, went up by 168% as global palm oil prices increased. The company’s first-quarter results showed solid growth.

Even though costs went up, higher product prices helped the company earn more. Presco’s well-run plantations and mills helped it get the most out of its operations, pushing its stock price near old highs.

9. Champion Breweries (+162%)

Champion Breweries gained 162% after reporting stronger sales and better cost control. The company improved profit margins in the first quarter by changing how it produces beer and cutting energy expenses.

New marketing efforts and a plan to release a premium lager brought in more interest from investors.

10. SCOA Nigeria (+161.65%)

SCOA Nigeria grew 161.65%, with most of the increase happening in January. It started at ₦2.06 and ended the half-year at ₦5.40. The early surge was due to surprise profit growth and a cheap stock price compared to sales.

Even though its price-to-earnings ratio is high and its stock behaves unusually in relation to the market (negative beta), investors believe its wide range of products can lead to more growth. They’ll be watching to see if it keeps beating earnings expectations.