SWOOTs: Top 10 best-performing trillion-naira stocks in Q3 2025

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A major driver of the Nigerian stock market’s impressive 18.95% return in the third quarter of 2025 was the strong performance of a select group of heavyweight stocks known as SWOOTs.

In Q3, 9 out of 22 SWOOTs gained more than 20%, while 16 advanced between 15% and 20%.

Altogether, 17 of them closed the quarter in the green, highlighting the breadth of positive sentiment among Nigeria’s largest corporates.

By definition, SWOOTs (an acronym for Stocks Worth Over One Trillion Naira) are companies whose market capitalization exceeds N1 trillion.

Given their enormous influence, any sustained movement in SWOOTs tends to shape the overall market direction.

Hence, their impressive showing in Q3 was powerful enough to lift the Nigerian All-Share Index to its third-best quarterly performance since 2020.

This work ranks the top 10 best-performing SWOOTs in Q3 2025, focusing on share price appreciation rather than size, with each company maintaining a market capitalization above N1 trillion.

Here are the top 10 best-performing SWOOTs:

Aradel Holdings (19.53%)

Aradel Holdings Plc ranks 10th with a 19.53% return in Q3, standing out as the only oil and gas company among the top 10.

As of September 30, the stock carried a market capitalization of N2.67 trillion, with 4,344,844,360 outstanding shares listed on the NGX.

It opened the quarter at N514.50 and saw 195.7 million shares traded before closing Q3 at N615.

A sharp 20.59% surge in September delivered most of the quarter’s gains. Despite sluggish momentum in the oil and gas sector, Aradel remained firmly in the green.

In its H1 2025 results, Aradel reported revenue of N368.07 billion, up 37.18% from N268.3 billion in H1 2024.

• Crude oil sales contributed N232.7 billion, up from N171.1 billion.
• Refined products earned N116.4 billion, up 42.57%, while gas sales grew 21.74% to N18.8 billion.

Hence, pre-tax profit rose 17.89% to N191.3 billion, despite general administrative expenses of N53.1 billion.

Year-to-date, the stock is up 8.71%, though a 16% decline in Q1 trimmed part of its yearly gains.

First HoldCo (21.15%)

First HoldCo Plc ranks 9th with a 21.15% return in Q3 and is one of three Tier-1 banks on the list.

As of September 30, the company had a market capitalization of N1.32 trillion, with 41,877,841,591 outstanding shares listed on the NGX.

The stock began the quarter at N26, trading 1.1 billion shares, its highest quarterly volume of the year, before closing at N31.50.

Most of the surge came in July, when the price climbed above N30, up 24%. Despite a mild 3.08% decline in September, the stock maintained its strength through the quarter-end.

• In its Q2 2025 financials, First HoldCo reported a pretax profit of N169.6 billion, down 4.58% year-on-year, bringing H1 pretax profit to N356.1 billion.
• Interest income surged 61.92% to N812.1 billion in Q2 from N501.5 billion a year earlier, lifting H1 interest income to N1.4 trillion.

Year to date, the stock is up 10.3%, with earlier weakness in H1 limiting overall performance.

Zenith Bank (21.16%)

Zenith Bank Plc is in the 8th position with a 21.16% Q3 return, the second Tier-1 bank on the list.

As of September 30, the stock had a market capitalization of N2.83 trillion, with 41,069,830,000 outstanding shares.

It opened the quarter at N56.95, trading 1.7 billion shares, and closed Q3 at N69.

• A 34.33% rally in July accounted for most of the growth, taking it to a high of N76.50 before a 13.7% decline in August pulled it back to N66.

The stock recovered slightly in September to end at N69.

• Zenith Bank’s H1 2025 results showed a pretax profit of N625.63 billion and a post-tax profit of N532.18 billion.
• Gross earnings grew 19.96% to N2.5 trillion, reflecting strong top-line performance.

The board declared an interim dividend of N1.25 per share, a 25% increase from the N1.00 paid in H1 2024.

Year-to-date, Zenith Bank is up 52.53%.

United Bank for Africa (22%)

United Bank for Africa Plc (UBA) ranks 7th with a 22% Q3 return, the best-performing Tier-1 bank on the list.

As of September 30, UBA had a market capitalization of N1.77 trillion, with 41,039,305,642 outstanding shares.

The stock opened at N35.40, trading 1.6 billion shares, and closed Q3 at N43.20.

A 40.21% surge in July pushed it to a high of N49.60 before mild corrections in August and September.

• For H1 2025, UBA reported a pre-tax profit of N388.4 billion, a slight dip from N401.5 billion in H1 2024, supported by 32.89% growth in interest income to N1.3 trillion.

Year-to-date, UBA shares are up 26.6%.

Nigerian Breweries (23.73%)

Nigerian Breweries Plc takes the 6th position with a 23.73% Q3 return, one of three consumer goods stocks in the top 10.

As of September 30, the stock had a market capitalization of N2.26 trillion, with 30,983,026,920 shares outstanding.

It opened the quarter at N59, trading 823 million shares, and closed Q3 at N73.00.

A 30.59% July jump took it to N77.05 before August weakness brought it down to N70.20. September ended slightly positive at N73.

• For H1 2025, pretax profit stood at N88.42 billion, versus a N85.20 billion loss in H1 2024.

• Revenue grew 54% year-on-year to N738.14 billion, reflecting strong consumer demand.

Year-to-date, the stock is up 137.50%, making it one of the best-performing consumer goods stocks this year.

Stanbic IBTC (28.24%)

Stanbic IBTC Holdings Plc ranks 5th with a 28.24% Q3 return.

As of September 30, it had a market capitalization of N1.73 trillion and 15,901,769,246 outstanding shares.

The stock opened the quarter at N85.00, traded 174 million shares, and closed at N109, joining GTCO as one of the few banking stocks to cross N100 this year.

An 18.8% rise in July drove much of the gain, followed by a brief August dip before rebounding 9% in September.

• Stanbic’s H1 2025 pretax profit jumped 65.81% to N243.7 billion, driven by a 56.34% growth in interest income to N384.7 billion, indicating strong lending and investment returns.

Year-to-date, the stock is up 89.24%, among the year’s best banking performers.

Nestlé Nigeria (28.97%)

Nestlé Nigeria Plc is in 4th place with a 28.97% Q3 return, one of three consumer goods heavyweights on the list.

As of September 30, the stock had a market capitalization of N1.48 trillion and 792,656,252 outstanding shares.

It opened the quarter at N1,450, traded 7.4 million shares, and closed at N1,870, after reaching a high of N1,890 in July. Despite a mild August pullback, prices held firm.

• Nestlé’s H1 2025 results showed a pretax profit of N88.3 billion, a strong turnaround from the N252.5 billion loss in H1 2024.
• Revenue climbed 42.79% to N581.1 billion, with N577.5 billion generated from domestic sales.

Year-to-date, Nestlé shares are up 113.7%, with Q2’s 42% rally making up the bulk.

BUA Foods Plc (37.19%)

BUA Foods holds 3rd place with a 37.19% Q3 return and is the best-performing consumer goods stock in the top 10.

As of September 30, the stock had a market capitalization of N11.33 trillion, the largest on the NGX, with 18,000,000,000 outstanding shares.

It opened the quarter at N459, trading 16 million shares, and closed Q3 at N629.70, breaking above N500 in August and reaching N600 by September.

• In H1 2025, BUA Foods reported revenue of N912.5 billion and pretax profit of N276.11 billion.

Year-to-date, the company is up 51.73% on NGX.

Lafarge Africa (43.46%)

Lafarge Africa Plc ranks 2nd with a 43.46% Q3 return, one of two industrial goods stocks in the top 10.

As of September 30, the company had a market capitalization of N2.02 trillion and 16,107,795,496 outstanding shares.

It opened the quarter at N87.20, trading 322 million shares, and surged past N100 and N140 in July, up 70.87%, before easing to N125.10 at the close of Q3.

In H1 2025, Lafarge reported revenue of N516.9 billion and pretax profit of N199.7 billion, up sharply from N46.6 billion in H1 2024, supported by strong cement sales.

Total assets stood at N1.02 trillion, including N422.2 billion in property, plant, and equipment, and N210 billion in cash and equivalents.

Year-to-date, the stock is up 80.84%.

BUA Cement (67.71%)

BUA Cement Plc takes the top spot as the best-performing trillion-naira stock, delivering a 67.71% Q3 return.

As of September 30, it had a market capitalization of N5.42 trillion and 33,864,354,060 outstanding shares.

The stock opened the quarter at N95.40, traded 82 million shares, and closed Q3 at N160, after breaking above N100 in July and N150 in August.

A 41.51% surge in July accounted for much of the quarter’s gain, followed by steady advances through September.

• As of June 30, 2025, BUA Cement reported total assets of N1.61 trillion, including N1.13 trillion in property, plant, and equipment.
• Revenue reached N580.3 billion in H1, while pretax profit rose fivefold to N214.8 billion.

Year-to-date, the stock is up over 72%.