Prime Business AfricaInvestors in the palm oil companies listed on the Nigerian Exchange Limited (NGX) were among the best earners in the stock market in the first quarter of 2025, as their stocks reached bull territory.
Prime Business Africa’s analysis of Ellah Lakes Plc, Presco and Okomu Oil Palm showed that their combined market valuation increased by 44.67 percent within January to March.
Join our WhatsApp ChannelFurthermore, the market valuation climbed from N910.14 billion on January 2 to N1.31 trillion on March 28, indicating an increase of N406.57 billion within three months.
Analysis showed that the growth was driven by Presco and Okomu Oil, as both recorded double-digit growth, unlike Ellah Lakes, which grew marginally.
Presco
Presco was the best-performing palm oil company in the stock market during the period under review, as the firm’s shareholders recorded a whopping 65.26 percent growth in their investment value.
In total, Presco’s shareholders earned N310 billion combined after the company’s share appreciated by N310, from N475 per share on January 2 to N785 on March 28.
This resulted in Presco’s market valuation surging from N475 billion to N785 billion, enabling the miller to retain its position as the most valuable palm oil company in the bourse at the end of the first quarter.
Okomu Oil
Okomu Oil was the second-best-performing palm oil company in the Nigerian Exchange Limited after its share price soared from N444 to N545 in a space of three months.
With the shares becoming more expensive by N101, the investment value of Okomu Oil shareholders skyrocketed by 22.79 percent during the period in review.
This handed them a combined gain of N96.53 billion and increased Okomu Oil’s market valuation from N423.53 billion to N520.07 billion to close the gap on Presco.
Ellah Lakes
Unlike its market rivals, Ellah Lakes shareholders closed the first quarter with an uptick in their investment value, as it grew by 0.33 percent between January and March.
The increase represents a combined gain of N38.58 million, which raised Ellah Lakes’ market valuation to N11.65 billion at the end of the first quarter from N11.61 billion recorded at the start of the same period.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
