The Nigerian stock market wrapped up February 2025 on a strong note, with the All-Share Index (ASI) climbing 3.18% to close at 107,821.39 points, up from 104,496.12 points at the beginning of the month. This positive trend was largely driven by the impressive performance of Dangote Cement, which saw its stock price surge by over 20% during the month.
Despite some fluctuations, investor confidence remained high, pushing the ASI past the 108,000-point mark in the second week of February before settling slightly lower.
Sectoral performances varied, with the industrial goods sector leading the charge after a 10% gain, largely attributed to the strong performances of Dangote Cement and Betaglass. The consumer goods sector recorded a moderate increase of 1.70%. However, the oil and gas sector declined by 4%, weighed down by a 15.13% drop in Oando’s stock price. Banking and insurance stocks also faced slight declines of 2.07% and 0.87%, respectively, due to sector-specific challenges.
Among the best-performing stocks in February were PZ Cussons, which soared by 53.91% to close at ₦16.80, and UPDC, which gained 53.48% to reach ₦1.61. Other notable gainers included Eterna, which rose by 52.17% to ₦42.00, Honeywell Flour Mills, which climbed 43% to ₦13.70, and Livestock Feeds, which ended the month at ₦7.43 after a 40.19% increase.
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Several corporate actions influenced the market during the month. For instance, Dangote Cement announced a $400 million expansion plan for its Ethiopia cement plant. Presco, Fidson Healthcare, and VFD Group all released their Q4 financial statements for the period ending December 31, 2024. Transcorp Hotels also published its audited full-year financial results, providing further insights into the hospitality sector’s performance.
Looking ahead, market analysts anticipate further gains in March. Optimism remains high, driven by favorable earnings reports and sustained investor interest. However, concerns about overvaluation could lead to periods of profit-taking.
