Here Are The Best-Performing Nigerian Stocks For September 2026

Nigeria’s equities market closed September 2026 on a positive note, with the NGX All-Share Index (ASI) gaining 2.87% during the month to close at 251,211.67 points, up 7,012.28 points from 244,199.39 points at the end of August.

Equity market capitalisation also increased by ₦5.37 trillion, or 3.40%, to approximately ₦163.10 trillion at the end of September.

However, the broader market remained mixed. Of the 127 equities traded during the month, 43 advanced, 61 declined and 23 closed unchanged, giving the market a negative advance-decline balance despite the overall rise in the benchmark index.

CMFC Leads September Gainers

Critical Minerals Financing Corp Plc (CMFC) emerged as the month's strongest ordinary-equity performer, gaining 55.96%, according to Network Capital's September market report.

The stock closed at ₦4.32, compared with its August closing level, as investor interest intensified around the company and the critical-minerals investment narrative.

Zichis Agro Allied Industries Plc followed with a 36.77% gain, closing at ₦19.90. The agricultural company had also attracted significant investor attention during the month following strong revenue growth reported for the six months ended June 2026.

Nigerian Exchange Group Plc (NGX Group) ranked among September's leading performers, gaining 35.68% to close at ₦181.00.

The performance came amid strong financial results from the exchange group. Its first-half 2026 profit before tax rose 170% year-on-year to ₦14.76 billion, while revenue more than doubled to ₦17.60 billion.

Seplat and VFD Group Also Post Strong Gains

Seplat Energy Plc gained 29.86% during September, closing at ₦16,000.10.

Seplat was also the most valuable equity traded during the month, recording approximately ₦171.08 billion in turnover value, according to Network Capital's monthly report.

The company's first-half performance included a sharp increase in profit after tax, while its proposed transaction involving the sale of a 10% interest in the NNPCL-SEPNU joint venture to NNPC also remained a major corporate development during the period.

VFD Group Plc gained 28.89%, closing September at ₦14.50. BusinessDay's monthly review reported that the company recorded a 100.8% year-on-year increase in first-half profit after tax to ₦10.06 billion.

Other Stocks That Made the September Top 10

The September gainers also included:

Eterna Plc: +22.91%, closing at ₦44.00
Royal Exchange Plc: +15.00%, closing at ₦1.15
Fidelity Bank Plc: +12.75%, closing at ₦21.65
Nigerian Aviation Handling Company Plc (NAHCO): +10.01%, closing at ₦150.00.

UPDC Real Estate Investment Trust (UPDCREIT) was another major September performer, rising 63.24% from ₦12.65 to ₦20.65 in BusinessDay's dataset, making it the largest gainer in that ranking.

Trading Activity

Trading activity also increased in some important measures during September.

Network Capital reported 1.14 million deals during the month, up 23.90% from August, while total value traded increased 42.62% to ₦911.15 billion.

However, total volume fell 33.19% to 17.96 billion shares. Fidelity Bank recorded approximately 2.32 billion shares in volume, while Fortis Global Insurance led the market by volume with 3.39 billion shares.

What September's Numbers Show

The September performance illustrates a market where gains were concentrated in selected equities rather than broadly distributed across the NGX.

The 2.87% rise in the All-Share Index was accompanied by more declining stocks than advancing stocks, while several individual equities delivered gains substantially above the benchmark.

The market also received attention from developments around international capital markets, including Nigeria's return to the FTSE Russell Frontier Market universe, while the commencement of the Dangote Petroleum Refinery IPO added another major capital-market event during the month.

For investors and market watchers, September therefore provided a picture of a Nigerian equities market that continued to attract capital and record significant gains in selected counters, even as market breadth remained uneven.

TechTV Network will continue to track Nigeria's capital markets, listed companies and the broader digital and financial economy.

What You Should Know
NGX All-Share Index: +2.87%
September close: 251,211.67 points
Equity market capitalisation: ₦163.10 trillion
Market cap increase: ₦5.37 trillion
127 equities traded during the month
43 advanced, 61 declined and 23 were unchanged
CMFC recorded a 55.96% gain in Network Capital's monthly ranking.
UPDCREIT recorded a 63.24% gain in BusinessDay's ranking.