Prime Business AfricaThe combined market valuation of paint manufacturers listed on the Nigerian Exchange Limited (NGX) increased to N55.54 billion in the second quarter (Q2) of 2025.
According to analysis by Prime Business Africa, the market valuation, which comprises Chemical Allied and Products (CAP) Plc, Meyer Paints and Berger Paints, increased by N6.87 billion from N48,67 billion recorded at the start of the same quarter.
Join our WhatsApp ChannelThe increase was mainly driven by Berger Paints, which was the best-performing paint manufacturer during the second quarter, followed by Meyer Paints and CAP.
Most Valuable Paint Companies In Q2 2025
CAP
Chemical and Allied Products maintained its position as the industry leader and most valuable paint company in Nigeria after closing the period under review with N41.51 billion market capitalisation.
Prime Business Africa gathered that CAP’s market valuation increased by N3.21 billion within three months, from N38.29 billion at the start of the quarter, after the company’s share price increased by 8.40 percent.
CAP’s share price had gained N3.95 kobo between April and June, as moderate demand pushed the share value up from N47 on April 2 to N50.95 kobo per share on June 30.
Berger Paints
Berger Paints was the second most valuable paint manufacturer in Nigeria after its market capitalisation grew by N3.23 billion during the period under review.
The company also retained the second spot, fighting off Meyer Paints, as it closed with N8.69 billion on June 30, compared to the N5.46 billion recorded at the start of the first quarter.
This followed bullish sentiments among stock market investors for Berger Paints, which led to the company’s share price rising by N11.15 kobo or 59.15 percent, from N18.85 kobo per share to N30.
Meyer
Meyer closed the second quarter as the third most valuable paint manufacturer, as the N424.99 million increase in its market capitalisation was not enough to make it overtake Berger Paints.
Analysis showed that Meyer Paints’ market valuation increased to N5.33 billion at the end of June, from N4.91 billion at the start of the second quarter.
The increase was on the back of the 8.64 percent appreciation in the company’s share price, which rose from N9.25 kobo on April 2 to N10.05 per share, indicating a change of N0.8 kobo.
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