Top 10 Nigerian Stocks with The Biggest Investor Returns in Q3 2025

In the third quarter of 2025, the Nigerian stock market put on a strong show, with the All-Share Index returning 18.95% to investors.

The index opened the quarter at 119,980.4 points and gained 22,731.9 points to close at 142,710.5.

This was the market’s best quarter of the year so far, and the third strongest since 2020, behind only the 39.84% rally of January 2024 and the 50.05% surge in October 2020.

Although every month ended in the green, July carried most of the weight, driving a strong 16.57% gain as sectors across the board rallied.

• By performance, the NGX Insurance Index led with a 57.65% surge in Q3, followed by Industrial Goods at 39.32%.
• Consumer Goods climbed 27.89%, Banking advanced 18.25%, while Oil and Gas closed with a modest 3.51% gain.

With the broader market on a roll, the spotlight now turns to the top 10 stocks that fueled the rally.

Here they are:

10. Nigerian Enamelware (108.65%)

Nigerian Enamelware Plc, a maker of enamel kitchenware, household items, plastics, and galvanized products, ranks 10th with a 108.65% gain in Q3 2025.

The stock opened at N18.50, traded 4.47 million shares, crossed N30, and closed at N38.60.

• Though September saw a decline, strong rallies in July and August led the gains, with July the standout month at 45.95%.

In results for the financial year ended April 30, 2025, the company swung from a N2.5 billion pretax loss in 2024 to a N24.9 million profit.

Analysts credit the rebound to clearing N2.6 billion in bad debts, better material sourcing, and WEMPCO (Western Metal Products Company) Group support.

Year-to-date, the stock is still up over 119%, despite Q1 trimming some gains.

9. Guinness Nigeria (108.98%)

Guinness Nigeria Plc, the brewing giant, takes 9th place with a 108.98% gain in Q3.

The stock opened at N88, traded 41.4 million shares, and closed at N183.90.

September was its best month, surging 41.46%, while July and August also ended in the green on solid fundamentals.

• Financially, Guinness swung from a N73.6 billion loss in 2024 to a pretax profit of N27.9 billion for the year ended June 30, 2025.
• Revenue jumped 65.82% to N496.6 billion, while finance expenses fell sharply.

The turnaround reflects its restructuring under the Tolaram Group, which acquired 58.02% from Diageo.

Year-to-date, the stock is up more than 161%.

8. Thomas Wyatt Nigeria (111.17%)

Thomas Wyatt Nigeria Plc, a leading paper products manufacturer, occupies the 8th spot with a 111.17% gain in Q3.

Company shares opened the quarter at N1.88, trading 102.4 million, and climbed steadily to N3.19 by the end of July.

August saw a mild 5.96% pullback, but the stock bounced back sharply in September with a 32.33% surge, breaking past N3.50 and closing the quarter at N3.97.

• The N1.88 opening in Q3 reflected the final stage of a dip from N2.70 in December 2023, which had persisted through H1 2025.
• Investors likely saw the low price as an attractive entry point, taking advantage of improving fundamentals.

By the end of Q3, the stock had achieved a year-to-date gain above 100%.

7. AIICO Insurance Plc (121.52%)

AIICO Insurance Plc, a major player in Nigeria’s insurance sector, ranks 7th with a 121.52% gain in Q3.

The stock opened the quarter at N1.58, traded 2.3 billion shares, and closed at N3.50, reflecting strong Q3 momentum in the insurance sector.

August was the standout month, surging 91.47% after a milder gain in July, while September saw a 13.37% pullback.

Despite the September dip, Q3 marked the company’s strongest quarterly performance since 2012.

The rally was likely fueled by H1 2025 results, which showed insurance revenue up 34% to N65.4 billion, premiums rising 8.17% to N94 billion, and paid claims increasing slightly to N43.3 billion from N42.5 billion in 2024.

AIICO Insurance shares are up over 181% year-to-date.

6. Sovereign Trust Insurance (123.88%)

Sovereign Trust Insurance Plc takes the 6th spot with a 123.88% gain in Q3, driven by strong investor confidence and positive sector momentum.

The quarter opened with shares at N1.34, trading 2.29 billion shares, and closed at N3.00.

In July, the stock gained early traction, breaking through N1.80 before momentum accelerated in August, which became the standout month with a 37.57% jump.

September added a milder increase, bringing the stock to the N3.00 mark and rounding off a solid quarter.

• In its H1 2025 financials, insurance revenue rose 45% to N34 billion, while pretax profit grew 36% to N1.5 billion.

These strong fundamentals, combined with favorable market sentiment, likely attracted investors throughout the quarter.

By the end of Q3, the stock had gained over 145% year-to-date.

5. Triple Gee & Company Plc (148.89%)

Triple Gee & Company Plc, a secure printing and packaging firm, ranks 5th with a 148.89% gain in Q3, accompanied by strong trading activity and investor interest.

The stock opened the quarter at N2.25, with 11.8 million shares changing hands, and closed at N5.60.

July was the standout month, with an impressive 88.44% gain, followed by continued positive momentum in August. Despite flat price action in September, the stock had already secured solid Q3 gains.

• As of June 30, 2025, total assets stood at N5.06 billion, with property, plant, and equipment accounting for N3.1 billion.
• H1 2025 results showed a higher turnover of N442 million, but rising costs led to a pretax loss of N105.6 million, slightly down 6% year-over-year.

Year-to-date, Triple Gee & Company is up over 195%.

4. Regency Alliance (150.00%)

Regency Alliance Insurance Plc takes the fourth spot with a 150% jump in the third quarter of 2025. Shares opened Q3 at N0.64, with 1.1 billion traded, and closed at N1.60.

After a mild start in July, the stock surged in August with a 63.75% gain, followed by a solid 22.14% increase in September, maintaining positive momentum throughout the quarter.

Looking ahead, Regency’s Q3 2025 forecast projects a pretax profit of N1.06 billion on revenue of N5.8 billion, a target that could sustain investor optimism and support continued bullish sentiment.

Year-to-date, the stock is up 104%, marking it as one of the notable performers in the insurance sector so far this year.

3. NCR (Nigeria) Plc (166.67%)

Technology solutions firm NCR (Nigeria) Plc ranks 3rd with a 166.67% gain in Q3 2025, opening the quarter at N6.00 with over 70 million shares traded.

Most of the gains came in the latter part of the quarter, with a 59% surge in August that pushed the stock past N11.55, followed by a rise to N16 in September.

• Investors likely responded positively to the company’s strong turnaround, moving from a N1.4 billion H1 2024 loss to a pretax profit of N44.6 million in H1 2025.

The recovery was driven by significant cost-cutting measures, including a reduction in administrative expenses from N1.4 billion to N118.3 million, alongside a 10% drop in the cost of sales.

Year-to-date, NCR shares are up 220%.

2. Eunisell Interlinked (205.02%)

Eunisell Interlinked Plc occupies the second spot with a 205.02% gain in the third quarter of 2025.

The engineering and technology solutions firm started the quarter at N12.95, traded 14.4 million shares, and closed at N39.50.

July was the strongest month so far, with a 62.16% gain, followed by continued positive momentum in August.

Bullish sentiment intensified in September, driving the stock above N39 and cementing its third-quarter performance.

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. This growth was supported by nearly doubling revenues to N1.41 billion.

Year-to-date, the stock is up over 104%, despite a 44% decline in the first quarter that trimmed some early gains.

1. Mutual Benefits Assurance (248.18%)

Mutual Benefits Assurance Plc tops the list with an impressive 248.18% gain in Q3 2025, reflecting strong investor confidence and robust sector momentum.

Company shares opened the quarter at N1.10, with 1.23 billion traded, and closed at N3.83. The bulk of the surge occurred in August, when the stock jumped 114%, marking the best month of the quarter.

September saw a modest 1.79% decline, but the stock maintained its lead, making Q3 the company’s strongest quarter so far in 2025.

• H1 2025 results likely contributed to the bullish sentiment, showing insurance revenue up 44.58% to N41.1 billion, premiums rising 38.09% to N47.2 billion, and claims nearly doubling to N22 billion.

Year-to-date, the stock is up 498%, solidifying its position as the top-performing stock in 2025.