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Fortis Global Insurance Plc and nine others emerged as top best-performing Nigerian stocks in the first quarter of 2026.
Fortis Global Insurance top the best-performing Nigerian stocks in Q1 after resuming trading on the NGX in February following a six-year regulatory suspension. The lifting of the ban on February 4, 2026 triggered an immediate bullish reaction from investors, with the stock recording a 515 per cent year-on-year gain to close March at N1.23 per share from N0.20 per share.
Others are Premier Paints with a year-to-date gain of 275 per cent, while John Holt recorded a three months gain of 250 per cent. Red Star Express (223.56 per cent), SCOA Nigeria (219 per cent), DEAP Capital Management & Trusts (200 per cent), R.T. Briscoe (175.71 per cent), NCR Nigeria (177.3 per cent), Infinity Trust Mortgage Bank (171.43 per cent) and Nigerian Exchange Group (135.71 per cent).
Across the first quarter of 2026, the Nigerian Exchange Limited recorded substantial growth in valuation. Market capitalisation rose from N99.38 trillion at the beginning of the year to N129.21 trillion by March 31, 2026, representing an increase of about N29.83 trillion. Also, the NGX All-Share Index rose from 155,613.03 basis points earlier in the year to 201,287.78 basis points by the end of March, representing an increase of about 45,674.75 basis points or 29.35 per cent.
The strong rally in Q1 was underpinned by renewed investor confidence, buoyant corporate earnings expectations and increased participation from both domestic and institutional investors seeking higher yields in the equities market amid declining real returns in fixed income instruments.
Market stakeholders noted that the relative stability in the foreign exchange market, alongside moderating inflation expectations and improved liquidity conditions, also encouraged portfolio rebalancing in favour of equities.
Speaking, the managing director and chief executive officer of Globalview Capital Limited, Aruna Kebira, highlighted, “prior to Fortis Global Insurance suspension, the stock was valued at 20 kobo. However, upon its return, its price was among the lowest on the Nigeria Exchange, sparking interest among investors who perceived it as a bargain compared to other insurance companies, whose shares had climbed above one naira.
“This situation suggests a potential catalyst for market movement, as investors often chase perceived value. The prevailing sentiment was that if Fortis Global Insurance, which had been on the sidelines, now appeared affordable at 20 kobo, the market could shift its dynamics.”
Kebira also discussed a phenomenon he termed the ‘neglected fence’, referring to companies that had previously been overlooked, saying that “these companies, once considered underperformers, began to show signs of turnaround. A closer examination of their performance leading into 2025 indicated that they had faced significant challenges, with their market positions being substantially weakened.”
He emphasized the importance of management changes and the quality of financial results released to the market, saying that “improvements in these areas could lead to a reassessment by investors, as the market operates as a discounting mechanism. Essentially, companies that perform well are rewarded with higher stock prices, while those that underperform experience a decline.”
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