The Nigerian equities market rode on the back of an extraordinary surge in consumer stocks in 2025, as the NGX Consumer Goods Index emerged as one of the strongest performers on the Exchange, delivering a 129.12 per cent year-to-date return and cementing its role as a major driver of overall market wealth creation.

The stellar performance came amid a historic year for the Nigerian Exchange (NGX), with the All-Share Index closing 2025 at 155,613.03 basis points, while total market capitalisation expanded to 99.38 trillion naira, reflecting renewed investor confidence and aggressive portfolio rotation into equities.

Market analysts attributed the outsized gains in the Consumer Goods Index to a combination of price re-rating, resilient corporate earnings, and strategic pricing adjustments by manufacturers grappling with inflation and currency pressures.

Despite squeezed household incomes, leading consumer companies successfully passed on costs, protected margins, and in some cases expanded profitability.

Heavyweights and mid-tier names alike recorded exceptional rallies. Guinness Nigeria Plc gained 398.08 per cent, Vitafoam Nigeria Plc rose by 300.00 per cent, Champion Breweries Plc advanced by 267.45 per cent, while Dangote Sugar Refinery Plc appreciated by 247.62 per cent, ranking among the year’s top gainers and reflecting renewed appetite for consumer-linked stocks with strong brands and distribution networks.

By year-end, the Consumer Goods sector was valued at 23.57 trillion naira, representing 23.78 per cent of total Nigerian Exchange market capitalisation, making it the single largest sector on the Exchange by value. This dominance underscored the sector’s defensive appeal in an environment of negative real yields in fixed-income markets.

“The consumer space became a hedge against inflation in 2025,” analysts at Sterling Asset Management and Trustees Limited noted, adding that equities increasingly outperformed traditional savings instruments as investors sought real returns.

However, not all consumer stocks ended the year in positive territory. A handful of counters, including Goldbrew Plc, which declined by 17.82 per cent, lagged due to company-specific challenges and competitive pressures, highlighting the selective nature of the rally.

Looking ahead to 2026, market watchers expect the Consumer Goods Index to remain a bellwether for equity performance, supported by earnings growth, improved foreign exchange liquidity, and gradual recovery in consumer demand, even as inflationary risks persist.

As 2025 closes, one message from the market is clear: consumer goods companies were not just survivors in a tough economic year, they were the undisputed champions of Nigeria’s equity resurgence. (Nigerian Tribune)