News in brief:
– Nestlé Nigeria’s stock surged 19.5% last week, continuing a three-week streak of double-digit gains, while other food and agricultural companies like Presco and Dangote Sugar also recorded notable increases.
– Despite some losses, such as FTN Cocoa’s 11.97% dip, the sector remains a strong and rewarding investment option in Nigeria.
The company that makes Milo and Nescafé, Nestlé Nigeria, reported a 19.5% jump in its stock price on the Nigerian Stock Exchange (NGX) platform last week.
It continues its impressive run and has now posted double-digit gains for three consecutive weeks, with its shares rising from ₦1,100 to ₦1,590.5 in May 2025.
Consumers who buy Nestlé products may have no reason to worry, as a rising stock price is usually a sign of a company performing well. If anything, it could mean more stability, better products, or even expansion.
Presco Plc also saw a 7.95% rise in its stock price last week, outperforming rival Okomu Oil Palm, which recorded a 4.53% gain. Presco enjoyed a strong first quarter and is reaping the rewards of investor confidence as it maintains momentum into Q2.
Honeywell Flour Mills and Nascon Allied Industries also posted modest gains during the week, alongside Dangote Sugar Refinery, which is recovering from a previous week’s loss on the exchange.
FTN Cocoa Processors was the biggest loser this past week, with its stock price falling by 11.97%. Recall that the company had recorded the highest gain the week before. Experts suggest that the fluctuating price of cocoa beans—its major raw material—could be driving its volatility in the stock market.
Northern Nigeria Flour Mills also saw its stock price decline after enjoying consecutive weeks of significant gains. However, investors may not be concerned, as their stake in the food company remains highly rewarding at this time.
Food and agricultural companies reported gains on the exchange platform last week, reinforcing the sector as a rewarding avenue for investment in Nigeria.
