With 129.6% Gain, NGX Consumer Goods Emerges Best Performing Index in 2025

Kayode Tokede

On the back of investors’ demand for consumer goods stocks, the Nigerian Exchange Limited (NGX) Consumer Goods Index outpaced other indices to emerge the best performing indicator with a gain of 129.6 per cent in 2025.

Consumer goods stocks outperformed others in 2025 to cement its role as a major driver of overall market wealth creation for investors.

The stellar performance came amid a historic year for the Exchange, with the All-Share Index closing 2025 with a gain of 51.2 per cent to  155,613.03 basis points, while total market capitalisation gained  N36.6 trillion close  at N99.38 trillion, reflecting renewed investor confidence and aggressive portfolio rotation into stocks.

With a gain of 65.6 per cent, the NGX Insurance index came second, followed by NGX Industrial Index with about 58.9 per cent. However, the NGX Oil & Gas Index declined by 1.54 per cent to emerge the worst performing index in 2025.

Capital market analysts have attributed the demand for companies in the Consumer Goods Index to strong corporate earnings, stressing that these companies overcame the numerous macro-economic challenges of 2023 & 2024 FY to return to profitability.

The foreign exchange policy by the Central Bank of Nigeria (CBN) of 2023 led to a sharp depreciation of the Naira, adversely affecting companies in the Consumer Goods index.

THISDAY analysis of companies in the NGX Consumer Goods Index revealed that Guinness Nigeria Plc, followed by Vitafoam Nigeria Plc and Champion Breweries Plc recorded the highest return on investment in 2025.

While the stock price of Guinness Nigeria advanced by 398.08 per cent to close N349.9 per share from N70.25 per share, the stock price of Vitafoam Nigeria gained 300 per cent to close at N92.00 per share from N23 per share it closed in 2024.

In addition, the stock price of Champion Breweries increased by 247.6 per cent to close at N14.00 per share from N3.81 per share.

Analysts at Cordros Securities in a report had urged investors to BUY most stocks in the Consumer Goods Index.

The firm in its report maintained an optimistic outlook for the food companies such as Nestle Nigeria, NASCON, given the essential nature of their products and their ability to implement price hikes more effectively than their peers, supported by a  favourable price/volume mix.

“These companies also benefit from strong market share, extensive distribution networks, and consumer demand resilience, making them less affected by shifts in consumer purchasing power, providing a solid  advantage in the medium term,” the report explained.

Also, Afrinvest in a report titled, “2025 brewery sector update report | brewing back to profitability,” said it anticipated that global brewery performance would be influenced by several key trends: the deepening of premiumisation strategies for flagship brands, and Innovation tailored to Gen-Z preferences.

Speaking with THISDAY, the vice President Highcap Securities Limited, Mr. David Adnori explained that the growth in NGX Consumer Goods Index is on the backdrop of massive interest in Nigerian Breweries, Nestle Nigeria, Cadbury Nigeria, among other companies quoted in the index.

He added that price sensitive information in 2026  may continue to play a critical role in the companies’ downward or upward movement on the Exchange.