News in brief:
– Agriculture companies on NGX saw strong gains last week, with Ellah Lakes Plc. leading at a 27.35% surge, followed by FTN Cocoa Processors, Presco, and Livestock Feeds.
– Food companies had mixed results; while Cadbury, BUA Foods, and Dangote Sugar rose, Northern Nigeria Flour Mills and Nestle Nigeria posted notable losses.
Nigerian agriculture companies post impressive stock value gains after a positive week of trading on the Nigerian Stock Exchange (NGX) platform.
Ellah Lakes Plc. recorded the highest price rise among companies tracked by this publication. Its stock value went from ₦3.4 to ₦4.33, a surge of 27.35% during the period, and its highest since at least the end of December 2024 and a record-high of ₦4.92 per share in the third quarter of 2024.
The company has been in a transformational state since 2019, going into processing oil palm, soya beans, maize, rice and cassava, diversifying from its core fish farming business.
In January 2025, it posted a loss of ₦396.6 million due to increasing costs weighing down on revenue. Although stockbrokers continue to show confidence in the company’s diversification efforts.
FTN Cocoa Processors Plc. also recorded a double-digit rise last week, seeing a 16.67% surge while Presco and Livestock Feeds had 4.79% and 3.64% jumps, respectively. Okomu Oil Palm did not see any changes in its stock value for the second consecutive week after a good run in the second quarter of 2025, rising from ₦545 to ₦650.
Meanwhile, food companies had a mixed outing comparatively. Cadbury’s stock price rose to ₦1500, adding 10.81% to its value over the week. Honeywell Allied Industries saw an increase of 8.29% while Dangote Sugar Refinery posted a 5.38% price surge.
BUA Foods continues rising, and last week, its shares sold for ₦459 per unit. In contrast, the company’s stock was worth ₦379 around this time last year.
Northern Nigeria Flour Mills was the biggest loser on the index last week, losing 10% of its value. While Nestle Nigeria dropped 5.69% in the same period, it has performed well on the trading site in 2025, adding over 71% in value year-to-date.
