Prime Business Africa
The agricultural industry’s valuation on the Nigerian Exchange (NGX) increased to N4.16 trillion at the end of the second quarter (Q2) of 2026, exceeding the N4.12 trillion recorded at the beginning of the same period.
According to Prime Business Africa’s (PBA) analysis, the valuation is based on the market capitalisation of FTN Cocoa Processors Plc, Ellah Lakes, Presco, Zichis Agro Allied Industries, Livestock Feeds Plc, and Okomu Oil Palms Plc.
Their combined market valuation increased by N44.84 billion, driven mostly by Zichis Agro, FTN Cocoa and Presco.
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Presco
Presco has the highest market valuation in the agricultural industry on the Nigerian stock market, as the company is valued at N2.68 trillion at the end of Q2 2026.
The market capitalisation of the company increased by N373.33 billion within April and June, from the N2.31 trillion recorded at the start of the second quarter.
Prime Business Africa gathered that the surge was driven by a N320 increase in Presco’s share price, which soared to N2,300 per share on June 30, from N1,980 on April 1.
This led to a 16.16 percent increase – the fourth highest growth in the industry – in the palm oil company’s market valuation.
Okomu Oil
With a market capitalisation of N1.35 trillion as of June 30, Okomu Oil was the second most valuable agricultural stock in the Nigerian bourse at the end of Q2.
The company’s market valuation had dropped from the N1.68 trillion recorded at the start of the quarter, representing a N331 billion decrease within three months.
Despite the 19.66 percent decline in the company’s market capitalisation, Okomu Oil retained the second spot on the list of the most valuable agricultural stocks on NGX.
The decline was due to equity traders pricing Okomu Oil’s shares low, as they offered N1,418 per share on June 30, compared to the N1,765 it was priced at on April 1, reflecting a N347 drop in asking price.
Ellah Lakes
Equity traders reduced their asking price for Ellah Lakes’ shares in the second quarter, offering N8.35 kobo at the end of the period, compared to the N11.95 kobo recorded at the start.
The N3.60 kobo drop in the share price resulted in the market capitalisation of Ellah Lakes declining by N21.99 billion during the period under review.
Ellah Lakes was valued at N73.01 billion on April 1, however, by June 30, the company’s market valuation had fallen to N51.02 billion.
However, the 30.13 percent decrease – the highest decline among its peers – in Ellah Lakes’ market capitalisation had no impact on its position on the list, as the company remained the third most valuable agricultural company on the NGX.
Zichis Agro Allied Industries
Zichis Agro was ranked as the fourth most valuable agricultural stock on the Nigerian bourse, after closing the period under review with N29.04 billion market capitalisation.
The company’s market valuation had increased by N13.47 billion in the second quarter, when compared to the N15.56 billion the agro company was valued at the start of the period.
Zichis Agro’s market capitalisation rising by 86.58 percent, the highest increase recorded in the industry between April and June, according to Prime Business Africa’s analysis, enabled the company to overtake FTN Cocoa Processors.
Analysis showed that the twofold growth was on the back of the company’s share price skyrocketing by N11.23 kobo within three months, from N12.97 kobo to N24.20 kobo per share.
FTN Cocoa Processors
FTN Cocoa Processors dropped to the fifth spot at the end of the second quarter, from the fourth position held at the beginning, despite the company’s share price rising twofold during the period.
The company’s market valuation had increased from N20.78 billion recorded on April 1 to N28.08 billion on June 30, reflecting a 35.08 percent growth, which is the second highest increase in the industry in Q2.
FTN Cocoa’s market capitalisation followed the path of the company’s share price, which grew by N1.87 kobo within three months, after NGX traders raised their offering price from N5.33 kobo to N7.20 kobo.
Meanwhile, Zichis Agro and FTN Cocoa are among the four best-performing agricultural stocks in the second quarter of this year.
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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.
