The Nigerian stock market is poised for significant growth in 2025, driven by economic reforms, sectoral diversification, and the growing influx of local and foreign investments. This guide highlights the top 10 Nigerian stocks to watch, providing insights into the sectors driving the market and why these stocks are worth considering.

The Nigerian stock market, Africa’s largest by market capitalisation, has been making waves due to economic recovery measures, increased consumer spending, and government policies to boost various industries. Key sectors, including banking, telecommunications, and agriculture, attract investor attention. The Nigerian Exchange Group (NGX) continues to evolve, offering new products like Exchange-Traded Funds (ETFs) and derivatives to boost investor confidence.

According to IMF predictions, the Nigerian economy will grow by approximately 3.5% in 2025. This growth is expected to drive up stock prices, presenting a favourable opportunity for investors to capitalise on high-growth sectors and stable stocks. However, informed investing is essential, given the market’s volatility.

The banking sector remains the backbone of Nigeria’s economy. In 2025, several banking stocks are set to maintain their dominance and offer investors reliable returns.

1. Zenith Bank Plc

Zenith Bank continues to outperform many competitors due to its solid fundamentals and consistent dividend payouts. The bank boasts a dividend yield of over 10%, which, combined with its market capitalisation of approximately 900 billion, makes it a top choice for income-seeking investors. Zenith Bank’s focus on digitisation and regional expansion will likely enhance its financial performance in 2025.

2. UBA (United Bank for Africa)

UBA’s extensive African footprint and diversified revenue streams provide a robust investment case. With a market capitalisation of 250 billion, UBA’s strategic positioning in cross-border trade and digital banking solutions set it apart. Experts project consistent growth backed by its innovative retail banking services.

3. Stanbic IBTC Holdings

Stanbic IBTC is critical in Nigeria’s wealth management and investment banking industry. The bank’s comprehensive range of services, including wealth management, investment banking, and retail banking, positions it to benefit from growing financial inclusion in Nigeria. With a market capitalisation of 375 billion, Stanbic remains a solid choice.

Nigeria’s consumer and industrial goods sectors remain resilient despite challenges. The country’s growing population and rising consumer spending drive demand for key industry players.

Dangote Cement Plc

Dangote Cement is the largest cement producer in Africa, with a market share of over 60% in Nigeria. The company has a market capitalisation exceeding 5 trillion and continually expands to meet rising construction demands. Dangote Cement offers growth and a substantial dividend yield for investors looking for stability and steady returns.

Flour Mills of Nigeria Plc

Flour Mills of Nigeria operates in food processing, agriculture, and packaging. Its diverse operations range from flour milling to producing pasta, noodles, and agro-allied products. Flour Mills recently increased its market share in packaged foods, boosting revenue growth by 16.1% year-to-date. With a market capitalisation of 135 billion, Flour Mills is positioned as a growth stock for 2025.

Unilever Nigeria Plc

Unilever Nigeria’s strong brand portfolio, including household care and personal care products, makes it a leading player in the consumer goods space. The company is focusing on market penetration and cost-cutting strategies to enhance profitability. With a market capitalisation of 77.6 billion, Unilever Nigeria is recovering well from recent market challenges.

The telecommunications sector remains one of Nigeria’s most vibrant industries, driven by increasing internet penetration and mobile phone usage.

MTN Nigeria Communications Plc

MTN Nigeria, the largest telecommunications provider, holds a significant market share, serving over 40% of the country’s subscribers. With its ongoing investments in 5G technology and mobile financial services, MTN is set to capitalise on Nigeria’s digital transformation. The company has a market capitalisation of 4.09 trillion and offers a dividend yield of around 7%, making it an attractive pick for 2025.

Nigeria’s oil and gas industry and agriculture play a vital role in the country’s economic landscape.

TotalEnergies Marketing Nigeria Plc

TotalEnergies is a leader in Nigeria’s downstream energy sector, benefiting from increased fuel demand and efficient price realignments. With a market capitalisation of 228 billion, TotalEnergies’ stock is set to benefit from the country’s infrastructural development projects.

Okomu Oil Palm Company Plc

Okomu Oil is one of Nigeria’s major agricultural stocks, specialising in palm oil production. With a focus on expansion and sustainability, Okomu Oil is poised for substantial growth in 2025. The company’s solid financial performance and ability to generate foreign exchange revenue make it a compelling investment option.

Emerging sectors in Nigeria present opportunities for forward-looking investors willing to diversify their portfolios.

FBN Holdings Plc

FBN Holdings provides diversified financial services, including commercial and retail banking, wealth management, and insurance. With a market cap of 388 billion, FBN Holdings remains a top pick, particularly given the ongoing restructuring and rights issue aimed at boosting shareholder value.

Presco Plc

Presco is a leading producer of speciality oils and palm oil in Nigeria. The company’s focus on sustainable growth and expanding market share makes it a promising stock. Presco’s strategic investments in processing capacity and land acquisition position it well for growth in 2025.

As the Nigerian stock market gears up for 2025, it offers stability and high-growth opportunities across sectors. From reliable banking stocks like Zenith Bank and Stanbic IBTC to consumer goods giants like Dangote Cement and Unilever, as well as emerging players in energy and agriculture, there are numerous avenues for investment. However, investors must stay informed, diversify their portfolios, and consult with financial experts to navigate the inherent market risks.