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African Economy
NGX: Investors’ Appetite For Consumer Goods Companies Grows
Increased demand
Increased demand from excited investors have pushed consumer goods companies to the top of capital gains, with a year-to-date return of 40.65 per cent. 

A review of the Nigerian Exchange (NGX) at the weekend indicated that the NGX Consumer Goods Index, which tracks consumer goods companies, is the best-performing index so far this year. 

The performance of the consumer goods sector was driven by renewed investors’ appetite for large-cap sectoral leaders such as Nestle Nigeria and Nigerian Breweries. 

The NGX Consumer Goods Index is leading the market with almost a quadruple of the average market gain. The All Share Index (ASI)-which tracks all quoted equities at the NGX and serves as the benchmark index for the stock market, closed weekend with a year-to-date gain of 11.36 per cent. 

Other indices on the positive side included NGX Lotus Islamic Index, which tracks ethical stocks that comply with Islamic finance, recorded a gain of 22.75 per cent; NGX Pension Index, 19.98 per cent; NGX Banking Index, 12.32 per cent and NGX 30 Index, which rose by 10.73 per cent. 

On the negative side, NGX Oil & Gas Index declined by 11.33 per cent. NGX Industrial Goods Index dropped by 2.42 per cent while NGX Insurance Index slipped by 1.43 per cent. 

A breakdown showed that Nestle Nigeria-the most capitalised stock in the NGX Consumer Goods Index recorded a growth of 81.77 per cent to N1,590.50 per share by May 30, 2025, following an impressive first quarter ended 2025 results. Nestle Nigeria’s share price had opened 2025 at N875 per share. Average return in Honeywell Flour grew significantly by 233.3 per cent to close at N21 per share from N6.30 per share on the NGX while Northern Nigeria Flour Mills (NNFM) recorded a growth of 216.4 per cent. Golden Guinea Breweries was the only company that declined with a drop of 17.8 per cent to close May 2025 at N7.10 per share. 

Capital market analysts have attributed the soar demand for companies in the consumer goods index to recovery in first quarter 2025 corporate earnings. 

The foreign exchange policy by the Central Bank of Nigeria (CBN) of 2023 led to a sharp depreciation of the naira, adversely affecting companies in the consumer goods index.
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