Small Caps, Big Returns: 10 NGX Stocks Soar Over 270% YTD, Hit ₦203bn Market Cap
Ten previously under-the-radar companies on the Nigerian Exchange Limited have stunned the market, delivering an average year-to-date (YTD) return of 274% as of February 20, 2026.
Together, these stocks now command a combined market capitalisation of ₦203 billion, signaling a powerful shift in investor appetite toward mid- and small-cap equities.
The Top Performers and Their Numbers
Zichis Agro-Allied Industries Plc
• Listed: January 20, 2026
• YTD Gain: 772.36%
• Price Surge: From ₦1.99 to massive highs
• Market Cap: ₦10.4 billion
Newly listed and already the best-performing stock on the Exchange this year.
SCOA Nigeria Plc
• YTD Gain: 437%
• 4-week Surge: 156%
• Price: From ₦7.10 (Jan 2026) to ₦38.15
• Market Cap: ₦24.8 billion
• One year ago (Feb 2025): ₦3.44
A dramatic turnaround story with sustained buying momentum.
RT Briscoe Plc
• YTD Gain: 294%
• Price: ₦3.50 → ₦13.80
• Market Cap: ₦16.2 billion
Strong upward repricing from a low base.
Deap Capital Management & Trust Plc
• YTD Gain: 301%
• Price: ₦1.90 → ₦7.62
• Market Cap: ₦11.4 billion
DAAR Communications Plc
• YTD Gain: 186%
• Price: 93k → ₦2.66
• Market Cap: ₦31.9 billion
McNichols Plc
• YTD Gain: 172%
• Price: ₦3.27 → ₦8.90
• Market Cap: ₦9.94 billion
NCR Nigeria Plc
• YTD Gain: 174%
• Price: ₦72.70 → ₦199
• Market Cap: ₦21.5 billion
Morison Industries Plc
• YTD Gain: 134%
• Price: ₦5.15 → ₦12.07
• Market Cap: ₦15.2 billion
Boosted by revenue growth and a return to profitability in 2025.
Neimeth International Pharmaceuticals Plc
• YTD Gain: 115%
• Price: ₦5.80 → ₦12.45
• Market Cap: ₦53.2 billion
Supported by institutional interest and expansion expectations.
Omatek Ventures Plc
• YTD Gain: 157%
• Price: ₦1.13 → ₦2.90
• Market Cap: ₦8.53 billion
Heavy trading volumes and speculative demand fueled the rally.
What’s Driving the Massive Rally?
Market operators attribute the surge to a combination of:
Earnings turnarounds
Strategic MoUs and corporate restructuring
Improved governance standards
Rising market liquidity
Increased investor participation
Positive impact of macroeconomic reforms
Beyond company-specific improvements, bullish market sentiment and renewed risk appetite have pushed capital into mid- and small-cap stocks.
The Bigger Picture
This rally signals:
• A rotation into previously overlooked stocks
• Strong speculative and momentum-driven participation
• Increased depth and liquidity in the broader market
However, with such rapid price appreciation, sustainability will depend on:
• Continued earnings growth
• Strong corporate governance
• Consistent macroeconomic stability
• Institutional participation
Bottom Line
What began as a quiet year for some small-cap stocks has turned into an explosive rally, creating ₦203 billion in combined value in under two months.
The big question now is not how they rallied — but whether fundamentals can sustain these historic gains.
Ten previously under-the-radar companies on the Nigerian Exchange Limited have stunned the market, delivering an average year-to-date (YTD) return of 274% as of February 20, 2026.
Together, these stocks now command a combined market capitalisation of ₦203 billion, signaling a powerful shift in investor appetite toward mid- and small-cap equities.
The Top Performers and Their Numbers
Zichis Agro-Allied Industries Plc
• Listed: January 20, 2026
• YTD Gain: 772.36%
• Price Surge: From ₦1.99 to massive highs
• Market Cap: ₦10.4 billion
Newly listed and already the best-performing stock on the Exchange this year.
SCOA Nigeria Plc
• YTD Gain: 437%
• 4-week Surge: 156%
• Price: From ₦7.10 (Jan 2026) to ₦38.15
• Market Cap: ₦24.8 billion
• One year ago (Feb 2025): ₦3.44
A dramatic turnaround story with sustained buying momentum.
RT Briscoe Plc
• YTD Gain: 294%
• Price: ₦3.50 → ₦13.80
• Market Cap: ₦16.2 billion
Strong upward repricing from a low base.
Deap Capital Management & Trust Plc
• YTD Gain: 301%
• Price: ₦1.90 → ₦7.62
• Market Cap: ₦11.4 billion
DAAR Communications Plc
• YTD Gain: 186%
• Price: 93k → ₦2.66
• Market Cap: ₦31.9 billion
McNichols Plc
• YTD Gain: 172%
• Price: ₦3.27 → ₦8.90
• Market Cap: ₦9.94 billion
NCR Nigeria Plc
• YTD Gain: 174%
• Price: ₦72.70 → ₦199
• Market Cap: ₦21.5 billion
Morison Industries Plc
• YTD Gain: 134%
• Price: ₦5.15 → ₦12.07
• Market Cap: ₦15.2 billion
Boosted by revenue growth and a return to profitability in 2025.
Neimeth International Pharmaceuticals Plc
• YTD Gain: 115%
• Price: ₦5.80 → ₦12.45
• Market Cap: ₦53.2 billion
Supported by institutional interest and expansion expectations.
Omatek Ventures Plc
• YTD Gain: 157%
• Price: ₦1.13 → ₦2.90
• Market Cap: ₦8.53 billion
Heavy trading volumes and speculative demand fueled the rally.
What’s Driving the Massive Rally?
Market operators attribute the surge to a combination of:
Earnings turnarounds Strategic MoUs and corporate restructuring Improved governance standards Rising market liquidity Increased investor participation Positive impact of macroeconomic reformsBeyond company-specific improvements, bullish market sentiment and renewed risk appetite have pushed capital into mid- and small-cap stocks.
The Bigger PictureThis rally signals:
• A rotation into previously overlooked stocks
• Strong speculative and momentum-driven participation
• Increased depth and liquidity in the broader market
However, with such rapid price appreciation, sustainability will depend on:
• Continued earnings growth
• Strong corporate governance
• Consistent macroeconomic stability
• Institutional participation
Bottom Line
What began as a quiet year for some small-cap stocks has turned into an explosive rally, creating ₦203 billion in combined value in under two months.
The big question now is not how they rallied — but whether fundamentals can sustain these historic gains.