Nigeria’s stock market delivered a familiar mix this week: explosive gains in a handful of small and thinly traded names, steady declines in some established stocks, and signs that momentum – rather than fundamentals – is driving large parts of the tape.
Here’s how the market stacked up across year-to-date (YTD), year-on-year, and weekly performance.
Top YTD Performers (Jan 1 – Feb 6, 2026)
These stocks have defined the market’s risk-on mood so far this year.
| Rank | Stock | YTD Return |
| 1 | SCOA | +345.07% |
| 2 | RT Briscoe | +260.86% |
| 3 | Deap Capital | +258.95% |
| 4 | NCR | +173.73% |
| 5 | Morison | +134.37% |
Why it matters: Most of these names share similar traits – low starting prices, thin liquidity, and long periods of investor neglect. The rally reflects speculation around asset values, balance-sheet resets, or simple momentum chasing rather than broad earnings upgrades.
Worst YTD Performers (Jan 1 – Feb 6, 2026)
While attention is on the winners, several stocks have quietly slipped into negative territory since the start of the year.
| Rank | Stock | YTD Return | |
| 1 | Ikeja Hotel | -25.54% | |
| 2 | Sunu Assurance | -17.82% | |
| 3 | Sovereign Trust Insurance | -11.54% | |
| 4 | Juli | -9.93% | |
| 5 | Conoil | -9.72% | |
| 6 | Cornerstone | -8.56% | |
| 7 | Lasaco | -7.76% | |
| 8 | FCMB | -6.64% | |
| 9 | NNFM | -5.81% | |
| 10 | UPL | -3.33% |
Why it matters: Insurance firms dominate the laggards list, reflecting weak sentiment around underwriting margins and balance-sheet pressure. Hospitality and downstream energy names are also struggling to convince investors that cost pressures are easing.
Stocks Up 100% or More YTD
The “double-or-nothing” club is growing fast. Here are the stocks that delivered at least 100% since January 2 when the market opened this year.
| Stock | YTD Return |
| SCOA | +345.07% |
| RT Briscoe | +260.86% |
| Deap Capital | +258.95% |
| NCR | +173.73% |
| Morison | +134.37% |
| Omatek | +133.63% |
| Abbey Mortgage Bank | +133.59% |
| Neimeth | +110.34% |
| Multiverse | +109.74% |
| McNichols | +107.95% |
| May & Baker | +107.89% |
| Daar Communications | +104.30% |
Quick read: Healthcare and financial services are reappearing on traders’ radar, helped by FX-driven import substitution themes and balance-sheet revaluations.
Best Performers Year-on-Year (Feb week 1, 2026 vs Feb week 1, 2025)
| Rank | Stock | YoY Return |
| 1 | NCR | +2,626.03% |
| 2 | Eunicell | +1,022.94% |
| 3 | SCOA | +761.04% |
| 4 | Mecure | +648.20% |
| 5 | Mbenefit | +618.03% |
| 6 | Deap Capital | +549.52% |
| 7 | TIP | +463.77% |
| 8 | May & Baker | +409.68% |
| 9 | Ellah Lakes | +404.69% |
| 10 | ABC Transport | +403.51% |
| 11 | Champion | +400.00% |
Context: These numbers highlight just how dramatic re-ratings can be in Nigeria’s market—especially when stocks start from very low bases.
Best Performers Last Week
Short-term traders dominated this list.
| Rank | Stock | Weekly Gain |
| 1 | RT Briscoe | +60.69% |
| 2 | Zichis | +60.38% |
| 3 | Abbey Mortgage Bank | +59.04% |
| 4 | Union Dicon | +49.14% |
| 5 | Austin Laz | +38.46% |
| 6 | Daar Communications | +34.75% |
| 7 | TIP | +30.10% |
| 8 | FTG Insurance | +30.00% |
| 9 | LivingTrust | +26.91% |
| 10 | Julius Berger | +26.81% |
Notable: Julius Berger’s appearance stands out as one of the few large, fundamentally grounded names catching momentum alongside smaller speculative plays.
The takeaway
This is a market being driven by rotation, speculation and repricing, not broad-based earnings growth alone. The opportunities are real, but so is the risk of sharp reversals.
For investors, the numbers tell a simple story: Nigeria’s market is rewarding bold bets and fast hands, while patience is being tested.
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