These 4 NGX stocks could have turned your N10 million into N26.1 million

If you had invested N10 million equally across the four best-performing stocks among Nigerian Exchange-listed companies with market capitalisations above N1 trillion, commonly referred to as SWOOT stocks, at the start of 2026, your portfolio would be worth about N26.15 million today.

That represents a theoretical capital gain of N16.15 million, or 161.5%, in less than eight months.

Data was compiled by Nairametrics Research from share price data published by the Nigerian Exchange (NGX), covering the period from January 2, 2026, to August 13, 2026.

All figures assume equal allocation across the four stocks, with shares purchased at the January 2, 2026, opening price and valued at the August 13, 2026, closing price.

The analysis excludes the impact of dividends, transaction fees, and taxes. Any residual cash from the purchase of whole shares is excluded from the portfolio valuation.

Analysis further showed that the four stocks also significantly outpaced the broader market. While the NGX All-Share Index (ASI) gained 56.17% year-to-date as of August 13, 2026, each stock more than doubled the ASI’s year-to-date gain.

Below is a breakdown of these stocks.

4. Aradel Holdings Plc (127.9%)

Aradel Holdings Plc recorded a 127.9% year-to-date (YTD) price gain, with its share price rising from N670.00 at the start of 2026 to N1,526.80 as of August 13, 2026.

Aradel’s performance reflects the energy sector’s strong run in 2026, supported by expanded oil and gas output, with the stock remaining among the strongest performers in the oil and gas segment on a year-to-date basis despite the mid-year correction.

An investor allocating N2.5 million from a N10 million portfolio at the opening price would have purchased 3,731 shares, now worth N5,696,491, delivering a gain of N3,196,491.

3. HBM Nigeria Plc (148.3%)

HBM Nigeria Plc, formerly Lafarge Africa Plc, recorded a 148.3% YTD price gain, with its share price rising from N134.50 on January 2, 2026, to N334.00 as of August 13, 2026.

HBM Nigeria’s rebranding from Lafarge Africa followed a strategic repositioning, and investors who maintained positions through the transition have been rewarded with one of the exchange’s strongest year-to-date performances in the industrial goods sector.

An investor allocating N2.5 million from a N10 million portfolio at the opening price would have purchased 18,587 shares, now worth N6,208,058, delivering a gain of N3,708,058.

2. Airtel Africa Plc (177.5%)

Airtel Africa Plc recorded a 177.5% YTD share-price gain, with its share price climbing from N2,270.00 at the start of 2026 to N6,300.00 as of August 13, 2026. The stock’s high unit price means the number of shares purchasable at any allocation is small, but the per-share gain of N4,030 amplifies the return significantly.

An investor allocating N2.5 million from a N10 million portfolio could have purchased 1,101 shares at the opening price, now worth N6,936,300, delivering a gain of N4,436,300.

1. First HoldCo Plc (192.3%)

First HoldCo Plc delivered the strongest return among the four stocks, with its share price rising 192.3% from N47.90 on January 2, 2026, to N140.00 as of August 13, 2026, nearly tripling in value over the period.

The rally appears to have been driven by a combination of improving earnings fundamentals and sustained insider accumulation, with Chairman Femi Otedola notably increasing his shareholding position during the period, a signal that those with the deepest knowledge of the business have been adding conviction ahead of further anticipated growth.

An investor allocating N2.5 million at the start of the year would have purchased 52,192 shares, with that position now worth N7,306,880, delivering a gain of N4,806,880 from a single stock alone.

More insights

While the percentage return is approximately the same regardless of how much an investor deployed, the naira outcome tells a very different story.

• Taken together, an equal allocation of N2.5 million per stock from a N10 million portfolio would today be worth N26,147,729, a gain of N16,147,729 or approximately 161.5% year-to-date.
• The same allocation strategy with N1 million produces a current portfolio value of N2,613,728, a gain of N1,613,728. And N100,000 deployed equally across all four stocks produces a current portfolio of N260,522, a gain of N160,522.
• The percentage return is approximately identical across all three scenarios, with minor differences arising from the rounding of whole share purchases at different allocation sizes.

The difference is entirely in the naira magnitude of the outcome. The N10 million investor earned N16.15 million in profit. The N1 million investor earned N1.61 million. Same stocks, same percentage return, but the gap in absolute naira terms is tenfold.

The example illustrates how a larger capital base can accelerate wealth accumulation when positive returns are earned and reinvested. The percentage return remains the same, but the absolute naira gain increases in proportion to the capital deployed.