Prime Business Africa
Shareholders in Nigeria’s industrial goods sector recorded massive returns in the first quarter of 2026, with nine out of 11 listed companies posting double-digit or threefold growth in investment value.
A Prime Business Africa analysis of Nigerian Exchange (NGX) data shows paint makers and cement giants dominated the rally between January and March 2026. The companies are Premier Paints, BUA Cement, Lafarge Africa, Berger Paint, Chemical and Allied Products (CAP), Cutix Plc, Dangote Cement, Beta Glass Plc, and Meyer.
Three paint firms and two cement manufacturers emerged as the five best-performing industrial goods stocks in Q1.
Join our WhatsApp ChannelTop 5 Best-Performing Industrial Goods Stocks In Q1 2026
Premier Paints
Premier Paints had the best-performing industrial goods shares in the first quarter, following a 275 percent growth in the investments held by the company’s shareholders.
- Prime Business Africa’s analysis showed that the growth, which represented a combined gain of N3.38 billion for the shareholders, was on the back of a N27.5 kobo increase in Premier Paints’ share price.
- At the start of this year, equity traders exchanged a share of Premier Paints at N10, however, according to the firm’s performance data, the price for one share surged to N37.50 kobo by the end of March.
BUA Cement
The second position on the list was occupied by BUA Cement after the manufacturer’s shareholders recorded 83.02 percent growth in the value of their investments during the period under review.
- It was gathered that the share price of BUA Cement rising by N148.2 kobo contributed to the investment appreciating twofold and also handed the shareholders a combined gain of N5.01 trillion in the first quarter.
- BUA Cement share price had started the first quarter at N178.50 kobo per share, however, by the end of the period, stock market traders were exchanging a share of the company at N326.70 kobo.
Lafarge Africa
On January 2, Lafarge Africa’s shares were trading at N134.50 kobo per share in the Nigerian stock market, but by the end of the first quarter, equity traders were offering the shares at N219.90 kobo.
- The N85.4 kobo increase in the company’s share price led to a combined gain of N1.37 trillion for Lafarge Africa’s shareholders during the period under review, according to analysis by Prime Business Africa.
- Further analysis showed that the surge in the share price led to the company’s shareholders recording a 63.49 percent growth in their investments in Lafarge Africa, making the stock the third best-performing in the NGX industry goods sector.
Berger Paint
Berger Paint was the fourth best-performing industrial goods stock as the company’s shareholders saw their investments appreciate by 58.12 percent between January and March.
- This was due to the N27.9 kobo added to the company’s share price in the first quarter, which also resulted in Berger Paint’s shareholders closing the same period with a combined gain of N8.08 billion.
- According to details of the company’s share performance, a share of Berger Paint was selling at N48 at the beginning of the first quarter, however, by the end of March, a share was being traded at N75.90 kobo.
CAP
Following a 44.63 percent growth in its shareholders’ investments in the first quarter, Chemical and Allied Products was ranked by Prime Business Africa as the fifth best-performing industrial goods stock.
- On March 31, traders in the stock market had offered a share of Chemical and Allied Products at N99.80 kobo, above the N69 per share offered at the beginning of the year.
- With equity investors trading a share of the paint manufacturer at N30.8 kobo more during the period under review, the investments held by CAP’s shareholders surged twofold, which represents a combined gain of N25.09 billion.
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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.
