Nigeria’s industrial goods counters had a strong 2025 on the Nigerian Stock Exchange, with the NGX Industrial Goods Index climbing 58.91% to finish as the market’s third-best performing sector.
The index moved from 3,572.2 to 5,676.5, beating the NGX All-Share Index return of 51.19%. The sector’s hottest stretch was mid-year – July rose 34.28%, Q3 gained 39.32%, and the second half delivered a 56.03% lift.
Below are the 10 industrial goods stocks with the biggest share-price gains in 2025, from No. 10 to No. 1.
10) Dangote Cement – 27.19%
Dangote Cement’s share price rose from ₦478.80 to ₦609.00 in 2025. After a rough start in January, the stock steadied and later pushed above ₦600, briefly approaching ₦660 in October before easing in November. As one of the largest NGX constituents (over 10% of the All-Share Index), its moves mattered for the broader market. The company’s nine-month pre-tax profit was reported at ₦1.04 trillion (up 156.2%) on revenue of ₦3.15 trillion (up 23.2%).
9) Cutix – 34.78%
Cutix advanced from ₦2.30 to ₦3.10, with trading volume of about 2.3 billion shares across the year. The stock improved early, softened into April, then turned sharply in May and extended the rally into July, when it hit a record ₦3.90, before selling pressure pulled it back in the second half. The mid-year lift coincided with a full-year performance showing revenue up 29.52% to ₦15.7 billion, while weaker numbers for the period ended October 2025 were cited as a drag later in the year.
8) Meyer – 53.62%
Meyer ended 2025 up 53.62%, moving from ₦8.43 to ₦12.95 on around 39 million shares traded. The stock was quiet for much of H1, then reacted strongly in July to earnings, rallying above ₦16 and briefly touching ₦16.75 in August. A weaker Q3 showing was followed by a gradual pullback into year-end. Half-year figures cited include revenue up 52.75% to ₦2.02 billion and pre-tax profit of ₦388.3 million (about double the prior level), while Q3 pre-tax profit was reported at ₦135 million (down from ₦194.3 million).
7) Chemical & Allied Products (CAP) – 81.58%
CAP gained 81.58%, rising from ₦38 to ₦69, with trading volume of over 65 million shares. The stock started the year strongly, corrected sharply in April, then rebuilt momentum through mid-year. It later pushed to ₦73 in November and settled at ₦69 by year-end. On the numbers, CAP’s 2025 performance was accompanied by revenue up 23% to ₦44.8 billion and pre-tax profit up 50.5% to ₦9.1 billion.
6) BUA Cement – 91.94%
BUA Cement climbed 91.94%, from ₦93 to ₦178.50, with more than 218 million shares traded. The stock dipped in Q1, down to ₦83.70 in March, before stabilising, then broke out in July with a 41.51% monthly surge. Prices peaked near ₦180 in October, eased slightly in November, and closed the year at ₦178.50. There was a sharp improvement in results – nine-month pre-tax profit up 448.3% to ₦338.5 billion and revenue up 47.2% to ₦858.7 billion.
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5) Lafarge Africa – 92.28%
Lafarge Africa returned 92.28%, moving from ₦69.95 to ₦134.50 on trading volume exceeding 916 million shares. The stock posted incremental gains early, then did the heavy lifting in July with a 70.87% jump to ₦149 in a single month. Even with choppy trading afterwards, it still finished the year comfortably above ₦100. For the nine months ended September 2025, revenue was up 63% to ₦780.48 billion and profit after tax up 246% to ₦207.78 billion.
4) Tripple Gee – 115.61%
Tripple Gee & Company rose 115.61%, from ₦2.05 to ₦4.42, with traded volume of over 31 million shares. The first half was measured (Q1 up 7.32%, Q2 up 2.27%), before a dramatic third-quarter run, driven by an 88.44% surge in July that extended into August, pushed the stock above ₦5 and to a 2025 high close of ₦5.60. From September, it reversed and slid back to ₦4.42 by year-end. On the balance sheet, the report notes total assets of ₦5.3 billion as of September 30, 2025, including ₦3.1 billion in property, plant and equipment.
3) Austin Laz – 133.52%
Austin Laz delivered a 133.52% gain, rising from ₦1.82 to ₦4.25, with 104 million shares traded. The stock rose in Q1 (to ₦2.09), drifted slightly by June (₦2.06), then picked up in Q3 to ₦2.90 by August. A November slide (down 18.62% to ₦2.36) was followed by a sharp December rebound that pushed it above ₦4 into year-end. For the nine months to September 2025, the company posted no revenue and a ₦11.1 million pre-tax loss, while total assets were ₦1.4 billion and retained earnings recovered to ₦39 million.
2) Berger Paints – 140.00%
Berger Paints surged 140%, from ₦20 to ₦48, on 97.67 million shares. It started slowly (Q1 down 5.75% to ₦18.85), then rebounded in Q2, helped by a 48.15% jump in June. Momentum carried into October (up to ₦42.50), a November dip took it to ₦35.80, and December delivered another burst (over 34%) to close at ₦48. Over the nine-month run, revenue was up 23% to ₦9.3 billion, gross profit was up 73% to ₦4.1 billion, and pre-tax profit was up 373% to ₦1.4 billion.
1) Beta Glass – 470.11%
Beta Glass was the breakout leader, soaring 470.11% from ₦64.90 to ₦370 on 66.24 million shares traded. The move came in waves – Q1 gained 53.85% (to ₦99.85), April paused, then May exploded with a 133% jump to ₦232.70. The stock later peaked at ₦486 in August, then corrected in September and settled at ₦370 through December. Nine-month glass sales rose to ₦114.3 billion (from ₦79.7 billion) and pre-tax profit increased to ₦40.3 billion (from ₦12.4 billion).
