Meet the 7 ICT Stocks That Added ₦6.8tn to NGX Market Value in 2025

Technology stocks have emerged as one of the Nigerian Exchange’s (NGX) biggest success stories in 2025, with seven ICT companies collectively adding ₦6.8 trillion to the market’s total value within the first eleven months of the year.

Spanning telecommunications, electronic payments, computer hardware, and broadband infrastructure, these ICT firms have not only delivered exceptional returns for investors but have also reinforced their role as the backbone of Nigeria’s digital economy.

ICT Sector Powers NGX Growth

As of November 2025, the combined market capitalisation of the seven top-performing ICT stocks climbed to ₦18.61 trillion, representing a 58 per cent year-on-year increase from ₦11.77 trillion recorded in November 2024. This surge has positioned the ICT sector among the most influential on the Exchange, with several of the stocks listed on flagship indices such as the Premium Board and NGX 30, amplifying their impact on the broader All-Share Index.

Beyond stock market gains, these companies provide critical digital infrastructure that supports banks, manufacturers, retailers, and service providers, underscoring their strategic importance to the wider economy.

The Seven Stocks Behind the ₦6.8tn Surge

The bulk of the value creation came from both large-cap telecom operators and fast-rising mid- and small-cap ICT firms:

MTN Nigeria led the pack, with its market capitalisation soaring from about ₦3.5 trillion to ₦9.8 trillion, making it the single largest contributor to the sector’s growth.

Airtel Africa followed, expanding to roughly ₦8.5 trillion from ₦8.1 trillion.

eTranzact nearly doubled its value, rising to ₦132.9 billion from ₦69.0 billion.

CWG more than tripled its market capitalisation to ₦45.3 billion from ₦14.5 billion.

Chams Holdings, NCR (Nigeria), and Omatek closed November 2025 with market values of ₦19.6 billion, ₦5.9 billion, and ₦3.4 billion respectively.

Together, these seven stocks accounted for the ₦6.8 trillion increase in ICT market value on the NGX in 2025.

Share Prices Tell the Story

Strong share price appreciation was the primary driver of the sector’s growth. Between 1 January and 30 November 2025:

NCR (Nigeria) recorded the most dramatic rally, surging 993 per cent from ₦5.00 to ₦54.65 per share.

MTN Nigeria gained 135.3 per cent, climbing from ₦200 to ₦531.70.

CWG advanced 133 per cent to ₦17.95.

eTranzact rose 122.31 per cent to ₦14.45.

Chams Holdings added 61.2 per cent, Omatek gained 60.27 per cent, while Airtel Africa recorded a 5.24 per cent increase.

These gains reflect renewed investor confidence and growing optimism around the long-term prospects of Nigeria’s ICT sector.

What Analysts Are Saying

According to Muktar Mohammed, CEO of Asher Investment Ltd, relatively stable macroeconomic conditions in 2025—particularly exchange-rate stability—have created a favourable environment for ICT stocks. He added that the expanding use of digital infrastructure, especially within the banking and financial services sector, has boosted investor interest.

Samuel Oyekanmi, Research and Insight Lead at Norrenberger Financial Group, noted that while tariff adjustments have improved profitability for some major telecom players, they have also lifted sentiment across mid- and small-cap ICT stocks.

Both analysts agree that ICT companies remain central to Nigeria’s digital transformation and are likely to continue attracting strong attention from investors, positioning the sector as a key growth driver on the NGX going into 2026.