Best Performing Nigerian Stocks in January 2026

The Nigerian Exchange delivered a strong start to 2026, gaining 6.27% in January as the All-Share Index rose by 9,757.4 points to close at 165,370.4.

This performance is a big step up from January 2025, when the index gained just 1.53%, showing stronger early-year momentum as market value climbed to N106.1 trillion.

Beyond price gains, trading activity improved, with over 15 billion shares exchanged versus 12 billion in January 2025, reflecting stronger investor participation.

The rally was driven by standout individual stocks, with the top 10 names posting gains of over 80%, highlighting the breadth of the market’s advance.

During the first three trading weeks of January, the market pushed the index above 166,000 for the first time ever, before a mild pullback in the final two weeks trimmed some gains.

Still, despite the late-month decline, returns among the top-performing stocks remained exceptional. Here are the top 10 stocks.

10. May & Baker (84.21%)

May & Baker Nigeria Plc ranked 10th in January 2026, delivering an 84.21% return. The stock opened at N19, with over 80 million shares traded, and closed the month at N35.

Performance was strongest in the second trading week, with the share price peaking at N43.50 in the fourth week. Profit-taking in the final week eased momentum, and the stock stabilized around N35.

The rally likely reflected positive sentiment across pharmaceutical stocks on the NGX, supported by improved sales.

In its most recent twelve-month financials, revenue rose to N38.2 billion from N28.9 billion, while post-tax profit jumped to N4.4 billion, nearly three times the N1.62 billion recorded the previous year.

9. Morison Industries (93.98%)

Morison Industries Plc occupied the ninth position on the list, delivering a 93.98% return to investors in January 2026.

The pharmaceutical stock opened the year at N5.15, with over 2 million shares traded during the month, and closed at N9.99 on the final trading day.

Price action was flat in the first two trading weeks, as the share price remained unchanged at N5.15.

However, momentum improved in the third week, leading to a strong rally that pushed the stock to N9.99.

The surge appears to reflect improving financial results, as the company reported a pre-tax profit of N54.4 million in 2025, rebounding from a N76.9 million loss in 2024 due to smoother operations.

Morison also completed a N400.2 million private placement and has 266.8 million ordinary shares listed on the Nigerian Exchange, a capital-raising move that may have further supported investor confidence.

8. Mchnichols (94.19%)

Mchnichols Plc ranked eighth on the list, delivering a 94.19% return to investors in January 2026.

The stock opened the month at N3.27 and rose to N6.35 by the final trading day, with more than 148 million shares changing hands during the period.

Although the stock closed four of the five trading weeks in positive territory, most of the gains were recorded in the second week, when the share price jumped by over 53%.

The rally may be linked to the company’s full-year performance.

Mchnichols posted a pre-tax profit of N387.2 million in 2025, up from N151.7 million in 2024, supported by revenue growth to N6.2 billion.

The consumer goods company also strengthened its balance sheet, with total assets rising to N1.9 billion from N1.3 billion.

7. Multiverse Mining & Exploration (111.61%)

Multiverse Mining & Exploration Plc placed seventh, delivering a strong 111.61% gain to investors in January 2026.

The share price opened the year at N13.35 and advanced to N28.25 by the final trading session, with more than 11 million shares exchanged during the month.

Market activity was concentrated in the first three trading weeks of January, with the second week emerging as the standout period after the stock jumped by 59.73%.

The performance appears to reflect steady improvements in the company’s fundamentals.

For the year ended December 2025, Multiverse recorded revenue of N985.6 million, up from N948.4 million, alongside a pre-tax profit of N569.3 million.

Balance sheet strength also improved, as retained earnings increased to N1.16 billion from N619.4 million, forming a large share of total shareholders’ equity of N1.7 billion.

6. RT Briscoe (124.57%)

RT Briscoe Plc claimed the sixth spot, delivering a 124.57% return to investors in January 2026. The stock opened the month at N3.50 and closed at N7.86, with over 81 million shares traded.

Trading was active across all five weeks, with the fourth and final weeks driving most of the gains, rising 40.71% and 31.44% respectively.

Strong financial results likely fueled investor interest.

In 2025, revenue surged to N40.4 billion from N28.6 billion, while pre-tax profit jumped to N3.08 billion from N1.025 billion.

On the balance sheet, retained losses narrowed to N9.7 billion from N12.6 billion, and total assets grew to N14.9 billion from N12.6 billion.

5. Red Star Express (139.08%)

Red Star Express Plc occupied the fifth position, returning 139.08% to investors in January 2026. The logistics company started the month at N8.70 and ended at N20.80, with more than 20 million shares traded.

Trading was steady throughout the five weeks, with the last three driving most of the rally as investors likely priced the company’s improved financials.

The company’s nine-month results (April–December 2025) showed pre-tax profit grew to N1.02 billion from N570.2 million the previous year.

Revenue increased 11.36% to N17.3 billion, driven largely by courier services at N8.2 billion, freight at N3.8 billion, and logistics at N3 billion.

4. Omatek Ventures (165.49%)

Omatek Ventures Plc secured the fourth position on the list, surging 165.49% from N1.13 at the start of January 2026 to close the month at N3.00.

During the month, over 207 million shares changed hands, a volume three times higher than what was recorded in December 2025.

Trading activity was strong throughout all five weeks, with the bulk of the gains coming in the third and final weeks. The last week stood out in particular, recording a weekly volume of 89 million shares as the stock price climbed sharply.

3. NCR (Nigeria) (173.73%)

NCR (Nigeria) Plc occupied the third spot, returning 173.73% to investors in January 2026. The tech stock opened the month at N72.70, with over 3 million shares traded, and closed at N199 by the final trading day.

The first week was largely flat, but momentum picked up in the second week. By the third week, the stock had broken past N100, and in the fourth week, it surged beyond N150, driving the bulk of January’s gains.

The rally was likely driven by NCR’s financial recovery, reversing a N2.1 billion loss to a N196 million profit in 2025, as administrative and distribution costs shrunk, boosting investor confidence.

2. SCOA Plc (345.07%)

SCOA Plc ranked second on the list, delivering a remarkable 345.07% return to investors in January 2026.

The stock opened the month at N7.10, with over 4 million shares changing hands, and closed at N31.60 by the final trading day, marking January as the company’s best-performing month ever.

The first week of trading was largely stagnant, with little price movement, but bullish momentum began in the second week and gradually gained strength over the following weeks.

Investor interest built steadily throughout the month, culminating in the final week when the stock broke past N30.


1. DeaP Cap (394.21%)

DEAP Capital Plc was the best-performing stock on the list, returning 394.21% to investors in January 2026.

The stock began the year at N1.90, with over 337 million shares changing hands, and closed January at N9.39.

All five trading weeks were positive, with the third week gaining 48.67%, before a 60% surge in the fourth week pushed the price above N7.

The rally gained extra momentum in mid-January after DEAP Capital signed an MoU with Banklink Africa’s Equity Fund II to finance minerals and metals projects across Africa, likely boosting investor confidence.