The Nigerian stock market saw a strong bullish run in May 2025, with major gains recorded across several sectors. Driven by a rally in large- and mid-cap stocks, robust earnings results, and increased investor confidence, the All-Share Index (ASI) of the Nigerian Exchange (NGX) climbed 5.62%—crossing the 110,000-point mark for the first time to close the month at 111,742.01.
Market activity intensified as trading volume jumped 55.72%, rising to 12.6 billion shares from 8.2 billion in April.
Amid this broad rally, the following 10 stocks stood out for delivering the strongest returns in May:
10. ABC Transport Plc — 43.2% Gain
- Open: N2.06 → Close: N2.95
- Volume: 28.5 million shares
- Driver: A sharp turnaround in Q1 2025 earnings with N352 million profit, reversing a loss of N20 million in Q1 2024.
9. Nestlé Nigeria Plc — 44.6% Gain
- Open: N1,100 → Close: N1,590+
- Volume: 2.4 million shares
- Driver: Strong Q1 2025 performance with N51.15 billion in pre-tax profit, rebounding from a N196.08 billion loss a year earlier.
8. Champion Breweries Plc — 44.7% Gain
- Open: N4.70 → Close: N6.80
- Volume: 80.1 million shares
- Driver: Q1 2025 profit of N1.7 billion, up from a N798 million loss in Q1 2024—a 318% YoY increase.
7. University Press Limited — 57.8% Gain
- Open: N3.74 → Close: N5.90
- Volume: 25.4 million shares
- Driver: Recovered from a prior loss with N639.5 million pre-tax profit in Q4 2025.
6. Honeywell Flour Mills Plc — 61.5% Gain
- Open: N13.00 → Close: N21.00
- Volume: 122.3 million shares
- Driver: Strong earnings report showing N21.39 billion pre-tax profit, marking a 348.8% YoY increase.
5. Red Star Express Plc — 64.8% Gain
- Open: N5.05 → Close: N8.32
- Volume: 4.4 million shares
- Driver: Broke technical resistance at N7.00 amid sustained weekly gains and investor optimism.
4. Academy Press Plc — 65.5% Gain
- Open: N2.87 → Close: N4.75
- Volume: 31 million shares
- Driver: Q3 2025 profit rose to N1.2 billion, a 430% YoY increase, sparking strong buying activity.
3. Caverton Offshore Support Group — 73.6% Gain
- Open: N2.66 → Close: N4.20
- Volume: 129.46 million shares
- Driver: Q1 results revealed N1.6 billion pre-tax profit, swinging from a N1.8 billion loss in Q1 2024.
2. Northern Nigeria Flour Mills Plc — 85.2% Gain
- Open: N75.00 → Close: N138.90
- Volume: 12.3 million shares
- Driver: Bullish sentiment in the consumer goods sector lifted the stock, with most gains coming mid-May.
1. Beta Glass Plc — 133.0% Gain
- Open: N99.85 → Close: N232.65
- Volume: Strong demand
- Driver: Q1 2025 results showed N15.2 billion pre-tax profit (+638.6% YoY) and N41.1 billion revenue (+69.34% YoY), fueled by robust sales in glassware and packaging.
Summary
May 2025 was a record-setting month for Nigerian equities, as earnings season, positive sentiment, and technical breakouts drove exceptional returns across diverse sectors—from manufacturing to logistics and publishing. While Beta Glass led the pack with a triple-digit gain, the overall performance points to broad-based investor confidence in Nigeria’s capital markets.
Analysts, however, advise cautious optimism moving forward, citing the influence of global uncertainties and the importance of fundamentals in sustaining long-term market momentum.
