Consumer Goods Steal the Show: NGX Index Soars 129.6% to Lead Market in 2025
The NGX Consumer Goods Index emerged as the best-performing sector on the Nigerian Exchange in 2025, delivering a massive 129.6% gain and outperforming all other indices amid strong investor demand and improving corporate earnings.
This remarkable rally cemented consumer goods stocks as one of the largest contributors to wealth creation on the Nigerian capital market during the year.
A Historic Year for the Nigerian Stock Market
The strong performance of consumer goods stocks occurred in a year of exceptional overall market growth:
• NGX All-Share Index (ASI): up 51.2% to 155,613.03 points
• Total market capitalisation: increased by ₦36.6 trillion, closing at ₦99.38 trillion
The broad rally reflected renewed investor confidence and aggressive portfolio rotation into equities, particularly into sectors showing earnings resilience.
Sector Performance: Winners and Losers
In comparison with other NGX indices:
• Consumer Goods: +129.6% (Best performer)
• Insurance: +65.6%
• Industrial Goods: +58.9%
• Oil & Gas: −1.54% (Worst performer)
The divergence highlights shifting investor preference toward sectors with pricing power and essential products.
Why Consumer Goods Stocks Outperformed
Market analysts attributed the surge in consumer goods stocks to:
• Strong earnings recovery after difficult macroeconomic conditions in 2023 and 2024
• Improved cost management despite earlier naira depreciation following the 2023 FX reforms
• Ability to pass higher costs to consumers through price adjustments
These factors helped many companies return to profitability faster than other sectors.
⭐ Top Performers Within the Index
THISDAY’s analysis identified standout stocks in the Consumer Goods Index:
• Guinness Nigeria Plc:
+398.1% → ₦349.90 (from ₦70.25)
• ️ Vitafoam Nigeria Plc:
+300% → ₦92.00 (from ₦23.00)
• Champion Breweries Plc:
+247.6% → ₦14.00 (from ₦3.81)
These stocks delivered some of the highest returns on investment across the entire market in 2025.
Analysts Remain Bullish
• Cordros Securities maintained a BUY stance on many consumer goods stocks, especially food producers like Nestlé Nigeria and NASCON, citing:
• Essential nature of their products
• Strong market share and distribution networks
• Better ability to manage pricing and volume mix
• Afrinvest, in its brewery sector update, highlighted:
• Growing premiumisation strategies
• Product innovation aimed at Gen-Z consumers
• A return to profitability in the brewery space
️ Market Insight
According to Mr. David Adnori, Vice President at Highcap Securities:
The surge in the Consumer Goods Index reflects heavy investor interest in stocks such as Nigerian Breweries, Nestlé Nigeria, and Cadbury Nigeria.
He added that price-sensitive information in 2026 will continue to influence the direction of these stocks, both positively and negatively.
✅ Bottom Line
The NGX Consumer Goods Index’s 129.6% rally in 2025 underscores the power of earnings recovery, pricing flexibility, and investor confidence. As the market heads into 2026, consumer goods stocks remain a key sector to watch, especially for investors seeking exposure to resilient businesses with strong brand and distribution advantages.
The NGX Consumer Goods Index emerged as the best-performing sector on the Nigerian Exchange in 2025, delivering a massive 129.6% gain and outperforming all other indices amid strong investor demand and improving corporate earnings.
This remarkable rally cemented consumer goods stocks as one of the largest contributors to wealth creation on the Nigerian capital market during the year.
A Historic Year for the Nigerian Stock Market
The strong performance of consumer goods stocks occurred in a year of exceptional overall market growth:
• NGX All-Share Index (ASI): up 51.2% to 155,613.03 points
• Total market capitalisation: increased by ₦36.6 trillion, closing at ₦99.38 trillion
The broad rally reflected renewed investor confidence and aggressive portfolio rotation into equities, particularly into sectors showing earnings resilience.
Sector Performance: Winners and Losers
In comparison with other NGX indices:
• Consumer Goods: +129.6% (Best performer)
• Insurance: +65.6%
• Industrial Goods: +58.9%
• Oil & Gas: −1.54% (Worst performer)
The divergence highlights shifting investor preference toward sectors with pricing power and essential products.
Why Consumer Goods Stocks Outperformed
Market analysts attributed the surge in consumer goods stocks to:
• Strong earnings recovery after difficult macroeconomic conditions in 2023 and 2024
• Improved cost management despite earlier naira depreciation following the 2023 FX reforms
• Ability to pass higher costs to consumers through price adjustments
These factors helped many companies return to profitability faster than other sectors.
⭐ Top Performers Within the Index
THISDAY’s analysis identified standout stocks in the Consumer Goods Index:
• Guinness Nigeria Plc:
+398.1% → ₦349.90 (from ₦70.25)
• ️ Vitafoam Nigeria Plc:
+300% → ₦92.00 (from ₦23.00)
• Champion Breweries Plc:
+247.6% → ₦14.00 (from ₦3.81)
These stocks delivered some of the highest returns on investment across the entire market in 2025.
Analysts Remain Bullish
• Cordros Securities maintained a BUY stance on many consumer goods stocks, especially food producers like Nestlé Nigeria and NASCON, citing:
• Essential nature of their products
• Strong market share and distribution networks
• Better ability to manage pricing and volume mix
• Afrinvest, in its brewery sector update, highlighted:
• Growing premiumisation strategies
• Product innovation aimed at Gen-Z consumers
• A return to profitability in the brewery space
️ Market Insight
According to Mr. David Adnori, Vice President at Highcap Securities:
The surge in the Consumer Goods Index reflects heavy investor interest in stocks such as Nigerian Breweries, Nestlé Nigeria, and Cadbury Nigeria.
He added that price-sensitive information in 2026 will continue to influence the direction of these stocks, both positively and negatively.
✅ Bottom Line
The NGX Consumer Goods Index’s 129.6% rally in 2025 underscores the power of earnings recovery, pricing flexibility, and investor confidence. As the market heads into 2026, consumer goods stocks remain a key sector to watch, especially for investors seeking exposure to resilient businesses with strong brand and distribution advantages.