Nigeria’s fast-moving consumer goods (FMCG) stocks delivered some of the strongest equity returns on the Nigerian Exchange (NGX), with at least 10 listed consumer companies more than doubling investors’ money in 2025.
From brewers to food processors, stocks that had been battered for years by rising costs, foreign-exchange losses and weak consumer spending staged a dramatic rebound, driven by aggressive price adjustments, balance-sheet repair and renewed investor appetite for inflation-hedged assets.
Guinness Nigeria led the charge, while Vitafoam, Champion Breweries and NASCON Allied Industries followed closely behind, highlighting a broad-based rerating of the sector.
Guinness Nigeria tops the chart
Guinness Nigeria Plc emerged as the standout performer among FMCG stocks in 2025, delivering a year-to-date gain of 353.52 percent.
The brewer began the year trading at N70.25 and climbed to N349.90, despite closing its last trading session on Wednesday, December 24, 2025, at N318.60 after a 10 percent jump from N289.70 the previous day.
The stock ranks eighth on the NGX in year-to-date performance and has surged 91 percent in just the past four weeks, the fourth-best rally on the exchange over that period.
The sharp move reflects renewed confidence following corporate restructuring, improved pricing power and expectations of stronger earnings in a still high-inflation environment where alcoholic beverage producers have passed costs on to consumers more successfully than many peers.
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Vitafoam and Champion Breweries deliver outsized gains
Vitafoam Plc followed closely, posting a 313.04 percent return in 2025. The bedding and foam manufacturer benefited from a rebound in construction-linked demand and improved margins after years of cost pressures.
A N1 million investment in Vitafoam would now be worth about N4.13 million, implying a gain of roughly N3.13 million. Investors who held the stock through the sector’s downturn were rewarded as the company leveraged price increases and operational efficiency to restore profitability.
Champion Breweries Plc also delivered triple-digit returns, gaining 293.70 percent year to date. The stock began the year at N3.81 and climbed to N14.80, despite a 4.2 percent drop on December 24, when it closed at N15.00 compared with N15.65 the previous session.
Champion ranks 11th on the NGX in 2025 performance and has added 9 percent over the past four weeks, placing it 40th on the exchange over that period.
The brewer’s rally reflects optimism around improved utilisation, tighter cost controls and the broader recovery in Nigeria’s beer market after years of margin erosion occasioned by currency volatility.
NASCON, Cadbury extend the rally beyond beverages
National Salt Company of Nigeria Plc, known as NASCON Allied Industries, returned 236.92 percent in 2025. The stock started the year at N31.35 and now trades at N105.00, having closed at N105.50 on December 24, up 0.4 percent from the previous session.
NASCON ranks 15th on the NGX year to date, supported by steady demand for salt and seasoning products, which are considered relatively defensive even as household budgets tighten.
Cadbury Nigeria Plc also staged a strong recovery, gaining 177 percent in 2025. The confectionery maker began the year at N21.50 and now trades at N62.50, after closing at N59.60 on December 24.
The stock ranks 23rd on the NGX in year-to-date performance and has gained 12 percent over the past four weeks, placing it 29th over that period.
Cadbury’s rebound reflects improved pricing discipline and expectations that cost pressures, particularly from imported inputs, may ease as companies adjust sourcing strategies and optimise working capital.
International Breweries, Honeywell Flour Mills surprise to the upside
International Breweries Plc returned 161 percent in 2025, climbing from N5.55 at the start of the year to N15.70. The stock closed at N14.50 on December 24, up 9.8 percent from N13.20 the previous session.
International Breweries ranks 28th on the NGX year to date and has surged 32 percent in the past four weeks alone, making it the 12th-best performer on the exchange over that period.
Honeywell Flour Mills Plc delivered a 182 percent return, rising from N6.30 at the start of the year to N19.50. The stock closed at N17.75 on December 24. Honeywell ranks 20th on the NGX year to date, reflecting renewed optimism following corporate restructuring and improved integration within the Flour Mills of Nigeria group.
Nigerian Breweries, Nestlé and Unilever join the doubling club
Nigerian Breweries Plc, the country’s largest brewer by volume, returned 148 percent in 2025. The stock began the year at N32and now trades at N79, having closed at N79.35 on December 24, up 1.3 percent from N78.35.
Nigerian Breweries ranks 30th on the NGX year to date and has gained 20 percent over the past four weeks, the 18th-best performance over that period.
Nestlé Nigeria Plc, one of the most capitalised FMCG stocks on the exchange, returned 123.77 percent in 2025. The shares climbed from N875 at the start of the year to N1,958.00, where they closed on December 24.
Nestlé ranks 41st on the NGX year to date and has added 10 percent in the past four weeks, placing it 36th over that period. The rally reflects renewed confidence after a difficult period marked by foreign-exchange losses and margin compression.