Top 10 most profitable industrial goods stocks of 2025 

The Nigerian Industrial Goods sector delivered a strong performance on the Nigerian Exchange in 2025, gaining 58.91% to rank as the third-best performing sector of the year.

Tracked by the NGX Industrial Goods Index, the sector rose from 3,572.2, surpassing 4,000 and 5,000 points, and closed at 5,676.5, driven by broad-based gains across constituent stocks.

While the Consumer Goods Index led the market with a 129.57% surge, followed by the Insurance Index at 65.64%, the Industrial Goods sector still stood out, outperforming the NGX All-Share Index, which returned 51.19% over the same period.

July emerged as the sector’s strongest month, rising 34.28%, as investors reacted positively to a wave of encouraging half-year earnings for the period ended June 2025 that filtered into the market during the month.

As a result, the third quarter was the sector’s best-performing period, advancing 39.32%, while the second half of the year proved the most rewarding overall, with a cumulative gain of 56.03%.

The following stocks were the key drivers behind the sector’s impressive performance in 2025:

Dangote Cement (27.19%)

Dangote Cement returned 27.19% in 2025, with its share price rising from N478.80 to N609.00. The stock experienced early bearish price action, sliding sharply in January before rebounding and trading unevenly through mid-year.

Momentum strengthened in the second half, carrying prices above the N600 level and briefly toward N660 in October, before a mild correction in November.

As a heavyweight accounting for over 10% of the NGX All-Share Index, its movements had an outsized impact.

• The rally was likely supported by solid fundamentals, as nine-month pre-tax profit surged 156.2% to N1.04 trillion and revenue rose 23.2% to N3.15 trillion.

In 2026 so far, the stock is up 4.27%, trading as high as N635.

Cutix (34.78%)

Cutix Plc gained 34.78% in 2025, climbing from N2.30 to N3.10 on about 2.3 billion shares traded during the year.

After early gains in January, prices softened through April before a decisive turnaround in May, when the stock recorded a strong rally.

The upward move extended into July, lifting the share price to a record N3.90, before sustained selling pressure in the second half pulled it lower into year-end.

• The mid-year rally coincided with strong full-year results, which showed revenue rising 29.52% to N15.7 billion. However, weaker results for the period ended October 2025 weighed on sentiment in the final quarter.

The stock has carried its momentum into 2026, rising over 20.97% year-to-date to trade around N3.75.

Meyer (53.62%)

Meyer Plc delivered a 53.62% gain in 2025, rising from N8.43 to N12.95 on a trading volume of 39 million shares. The stock started the year positively but traded quietly through much of the first half.

Sentiment shifted sharply in July, as strong half-year earnings triggered a rally that lifted prices above N16, marking the stock’s best monthly performance of the year.

Shares briefly touched N16.75 in August before easing, as weaker third-quarter results likely dampened sentiment, leading to a gradual pullback into year-end.

• Half-year revenue rose 52.75% to N2.02 billion, while pre-tax profit doubled to N388.3 million.

• However, sentiment weakened later in the year after third-quarter pre-tax profit dropped to N135 million from N194.3 million.

In 2026, Meyer has rebounded strongly, trading above N16 and up more than 46% year-to-date.

CAP (81.58%)

Chemical & Allied Products Plc returned 81.58% in 2025, with its share price rising from N38 to N69 on trading volume exceeding 65 million shares.

After a strong start to the year, the stock suffered a sharp correction in April before regaining momentum from May through July.

Renewed buying interest pushed prices to a high of N73 in November, after which a mild pullback saw the stock close the year at N69.

• The performance was supported by improving fundamentals, as revenue rose 23% to N44.8 billion, and pre-tax profit increased 50.5% to N9.1 billion, while earnings per share also improved.

The stock has extended its gains into 2026, trading around N79.50 after rising more than 15%.

BUA Cement (91.94%)

BUA Cement Plc recorded a 91.94% gain in 2025, jumping from N93 to N178.50, with more than 218 million shares traded over the year.

The stock struggled in the first quarter, falling to a low of N83.70 in March, before stabilizing in the second quarter.

A decisive breakout occurred in July, when the share price surged 41.51%, setting the tone for a strong second half.

Prices peaked near N180 in October before a slight November correction, with the stock closing the year at N178.50.

• Investor sentiment was likely supported by earnings strength, with nine-month pre-tax profit jumping 448.3% to N338.5 billion and revenue rising 47.2% to N858.7 billion.

In 2026, the stock is up 2.52%, trading around N183.

Lafarge Africa (92.28%)

Lafarge Africa Plc ranked fifth, returning 92.28% in 2025 as its share price rose from N69.95 to N134.50, with trading volume exceeding 916 million shares.

The year began steadily, with a 5.50% gain in the first quarter lifting the stock to N73.80, before momentum increased in the second quarter, driving prices up to N87.20.

July, however, accounted for the bulk of the year’s gains, as the stock surged 70.87% to N149 in a single month. Although price action became choppy afterward, Lafarge still ended the year comfortably above N100.

The rally was likely anchored by strong financial results.

• For the nine months ended September 2025, revenue climbed 63% to N780.48 billion, while profit after tax soared 246% to N207.78 billion, driven by higher volumes, improved efficiency, and currency stability.

In 2026, Lafarge shares are up 15.99% year-to-date, trading around N156.

Tripple Gee (115.61%)

Tripple Gee & Company Plc finished fourth with a 115.61% gain, rising from N2.05 to N4.42 on a traded volume of over 31 million shares.

The stock recorded modest gains in the first half of the year, advancing 7.32% in the first quarter and just 2.27% in the second.

Momentum shifted dramatically in the third quarter, with an 88.44% surge in July extending into August, pushing the stock above N5 and closing at N5.60, its highest level in 2025.

From September onward, prices retreated, with the stock sliding back to N4.42 by year-end.

• Financially, the company reported a solid balance sheet, with total assets of N5.3 billion as of September 30, 2025, including N3.1 billion in property, plant, and equipment.

In 2026, Tripple Gee has rebounded strongly on NGX, gaining over 60% to trade around N7.10

Austin Laz (133.52%)

Austin Laz Plc ranked third in 2025, posting a 133.52% return as the stock climbed from N1.82 to N4.25 on 104 million shares traded.

It gained 14.84% in the first quarter to N2.09, eased slightly to N2.06 by June, then picked up strong momentum in the third quarter, reaching N2.90 in August.

The rally stalled in November, with the stock falling 18.62% to N2.36, before a sharp December rebound lifted it above N4.00 to close the year at N4.25.

• The December surge was largely technically driven, as traders bought into the November low despite weak nine-month results.

For the nine months to September 2025, Austin Laz posted no revenue and an N11.1 million pre-tax loss, but total assets rose to N1.4 billion and retained earnings recovered to N39 million.

So far in 2026, the stock is up over 13%, despite profit-taking and insider share sales.

Berger Paints (140.00%)

Berger Paints Plc ranked second in 2025, gaining 140% as the stock rose from N20 to N48 on 97.67 million shares.

The year started slowly, with a 5.75% drop in Q1 to N18.85, but a strong rebound followed in Q2, including a 48.15% jump in June.

Momentum continued through October, lifting the stock to N42.50, before a November dip to N35.80; a sharp December rally of over 34% pushed it to close the year at N48.

• The rally was likely influenced by strong nine-month financials, with revenue up 23% to N9.3 billion, gross profit rising 73% to N4.1 billion, and pre-tax profit jumping 373% to N1.4 billion.

So far in 2026, the stock is up 22.7%, trading near N58.90.

Beta Glass (470.11%)

Beta Glass topped the Industrial Goods sector, surging 470.11% in 2025 from N64.90 to N370 on 66.24 million shares traded.

The rally started strong, with a 53.85% first-quarter gain to N99.85, paused briefly in April, then soared 133% in May to N232.70.

Shares peaked at N486 in August before a September correction, settling at N370 through December.

• The rally was likely driven by robust earnings: nine-month glass sales rose to N114.3 billion from N79.7 billion, and pre-tax profit jumped to N40.3 billion from N12.4 billion.

So far in 2026, Beta Glass has added 13.51%, trading above N420.