Nigeria’s top 10 best-performing stocks on the NGX in September

The Nigerian stock market wrapped up September 2025 on a gentle upswing, gaining 1.72% for the month, accompanied by a rise in market capitalization to N90.5 trillion from N88.76 trillion.

Tracked by the All-Share Index, the market opened at 140,295.5 points and supported by a trading volume of 13.6 billion shares, closed at 142,710.5 points on September 30.

The month began slowly with a 0.94% decline in the first week, but momentum quickly returned as the following weeks stayed positive, with the second week delivering the strongest performance.

Despite the overall bullish tone, the market’s advance was restrained by weakness in the financial services sector.

• The NGX Banking Index fell by 0.95% while the NGX Insurance Index dropped 7.21%.

Still, several Nigerian stocks posted gains during the month, adding to investor returns and lifting the year-to-date performance to 38.65%.

Here are the top 10:

John Holt (26.19%)

John Holt Plc, a diversified conglomerate with interests in power equipment, marine services, and property management, secured the 10th spot with a month-to-date gain of 26.19%.

The stock opened September at N6.30 and, after 4.1 million shares exchanged hands, closed at N7.95.

Most of the upward move came in the first three weeks, particularly the second week which alone delivered a 9.56% rise.

Although the stock traded flat in the last two weeks, the early rally was enough to lock in a strong monthly performance.

• Fundamentally, the company reported a 56% revenue drop to N1.2 billion for period ended June 2025 but importantly reversed a N425 million exchange loss into a N22 million profit.

Quarter-to-date, the stock is up 7.43%, while year-to-date it has gained 2.05%, making September its best month so far.

Multiverse Mining and Exploration (27.52%)

Multiverse Mining and Exploration claimed 9th place with a 27.52% gain in September. The stock started at N10.90 and, with 5.7 million shares traded, ended the month at N13.90.

The bulk of the rally came in the third week, up 21.30%, building on a 5% lift from the first week.

• Momentum was likely fueled by an August announcement that the company had secured regulatory approval to commence mining operations across 14 areas in Nigeria for Lead/Zinc ore.

• That news likely set the tone for September’s surge.

Quarter-to-date, the stock jumped 58.86% in Q3 and has soared 89.12% year-to-date.

Thomas Wyatt (32.33%)

Paper products maker Thomas Wyatt Nigeria Plc ranked 8th with a 32.33% gain in September.

Starting at N3.00, the stock saw a high turnover of 53.2 million shares during the month.

The real breakout came in the final two weeks, when the stock climbed over 22% to N3.38 on strong weekly volume of 31 million shares, before closing at N3.97.

With that momentum, the company delivered a strong Q3 gain of 111.17%.

Mecure Industries (33.85%)

Pharmaceutical and healthcare manufacturer Mecure Industries Plc secured 7th place with a 33.85% monthly gain.

Opening at N19.50, the stock moved 8.2 million shares and finished September at N26.10.

Most of the surge came in the penultimate week, up 20.83%, supported by 9.92% growth in the second week and smaller gains in the first.

On fundamentals, Mecure posted a pretax profit of N3.9 billion in H1 2025, tripling last year’s N1.3 billion, powered by revenue that grew 117.56% to N37.2 billion.

• Acute pharmaceutical sales led the charge with N20.8 billion.

For Q3, the stock advanced 103.11% on NGX, while year-to-date gains stand at 87.77%, trimmed by earlier losses in Q1.

NCR (Nigeria) (38.53%)

Technology solutions firm NCR (Nigeria) Plc ranked 6th with a 38.53% gain in September. The stock opened at N11.55 and saw an impressive 68.3 million shares traded.

After a 9.96% lift in the first week, the stock leapt past N15 in the second week, before consolidating in weeks three and four to end at N16.00.

• Its latest financials show a turnaround from a N1.4 billion H1 2024 loss to a pretax profit of N44.6 million in H1 2025.

• This reversal was supported by drastic cuts in administrative costs, which fell from N1.4 billion to N118.3 million, and a 10% decline in cost of sales.

The stock gained 166.67% in Q3 and is up 220% year-to-date, with August’s 59.31% surge still the highlight.

Guinness Nigeria (41.46%)

Brewing giant Guinness Nigeria Plc secured 5th place with a 41.46% gain in September. The stock rose from N130 to N183.90, with 18.9 million shares traded.

Its biggest move came in the third week, soaring 28.60% and breaking above N180.

Financially, Guinness reported a pretax profit of N27.9 billion for the year ended June 30, 2025, a sharp rebound from a N73.6 billion loss in 2024.

Revenue climbed 65.82% to N496.6 billion, while finance expenses dropped significantly.

• The turnaround reflects operational restructuring following Tolaram Group’s 58.02% acquisition from Diageo.

The stock recorded 108.98% gain in Q3 and is up 161% year-to-date.

LivingTrust Mortgage Bank (45.00%)

LivingTrust Mortgage Bank Plc took 4th spot with a 45% monthly gain despite the general weakness in financial services stocks.

Opening at N4.20, the stock traded over 14 million shares and closed September at N6.10.

Gains were concentrated in the final two weeks, with the price climbing from N5.25 to N6.10 in quick succession.

In H1 2025, the bank reported a pretax profit of N562.5 million, up from N423.6 million the year before, with interest income surging 72% to N3.02 billion.

However, Q3 as a whole was weak, down 10.44% due to steep July and August losses. Year-to-date, the stock is still up 39.04%.

eTranzact (47.47%)

Payment solutions provider eTranzact International Plc ranked 3rd with a 47.47% September rally.

The stock opened at N10.85, saw 24.9 million shares change hands, and closed at N16.00.

• The major catalyst came early in the month when the Federal Inland Revenue Service (FIRS) approved eTranzact as a provider in its nationwide e-invoicing rollout, expanding on earlier VAT automation collaborations.

eTranzact also reported an 18.31% year-on-year rise in H1 pretax profit to N2.1 billion, aided by lower costs.

The stock gained 105.13% in Q3 and is up 146% year-to-date.

Chellarams (54.76%)

Chellarams Plc came in 2nd with a 54.76% monthly gain. The stock started at N10.50, traded 4.19 million shares, and closed at N16.25.

Apart from a flat first week, it recorded strong gains in the second, third, and fourth weeks, with the second week’s 26.67% surge leading the charge.

September was the company’s second-best month of 2025 after January’s 76.49% surge.

Quarter-to-date, the stock rose 70.51% in Q3 and is up 339.19% year-to-date.

Eunisell Interlinked (55.21%) 

Eunisell Interlinked Plc topped the table with a 55.21% September gain. Starting at N25.45, the engineering and technology solutions firm traded 4.57 million shares and closed at N39.50.

After a slow first half of the month, momentum picked up sharply in the last three weeks, with the third week alone adding 20.28%.

In its results for the year ended June 30, 2025, Eunisell reported a pretax profit of N235.8 million, up 79.28% from N131.5 million in 2024, driven by higher revenues which nearly doubled to N1.41 billion.

The stock soared 205% in Q3 and is up 104.98% year-to-date, though earlier Q1 losses weighed on overall performance.