Three listed companies under the agro-processing stocks have delivered one of the strongest rallies on the Nigerian Exchange (NGX) in recent years, rewarding investors with about 1,656 per cent capital appreciation in four years.

The firms are Presco Plc, Okomu Oil Palm Plc and FTN Cocoa Processors Plc. The trio achieved a combined market value of N3.82 trillion as of Thursday, June 17, 2026, up from N217.6 billion recorded on May 11, 2022.

A four-year analysis of the firms’ performance showed that Presco traded at N77 per share in 2022, while Okomu Oil’s share price stood at N147. Also, FTN Cocoa remained a low-priced stock at 29 kobo per share.

At those levels, the companies were still largely viewed as mid- to small-cap agricultural plays despite their strong underlying fundamentals.

By 2026, however, the three stocks will become major market drivers, supported by stronger earnings, improved pricing power and increased investor demand for locally produced commodities.

At the close of transactions on June 17, 2026, Presco’s share price rose to N2,300 while Okomu Oil stood at N1,418. FTN Cocoa appreciated to N8.50 kobo from penny stocks classification in 2022.

The rise in global edible oil prices, triggered by supply disruptions in major producing regions, boosted the revenue of palm oil processors in Nigeria, particularly Presco and Okomu.

In addition, sustained depreciation of the naira increased investor interest in companies with strong export potential or import-substitution advantages. This led to renewed inflows into agro-industrial stocks, as investors sought protection against inflation and currency volatility.

FTN Cocoa also benefited from a wider speculative and earnings-driven recovery in agro-processing names, moving from penny-stock territory into a higher valuation level.
Operators said the rally was also supported by consistent earnings growth across the three companies between 2022 and 2025, as higher product prices and improved operational efficiency strengthened profitability.

According to them, the sector also benefited from increased local demand for edible oil, which reduced reliance on imports and strengthened pricing power for domestic producers. Institutional and retail investors increasingly shifted funds into real sector stocks during the period, as returns in fixed income markets became less attractive relative to inflation.

Another major factor that enhanced the stellar performance of Presco and Okomu is their ability to consistently create value for shareholders through robust dividend payments. The two companies have maintained a strong track record of rewarding investors with growing payouts, reinforcing confidence in their long-term growth prospects.

For instance, Presco’s total dividend per share rose from N8.8 in 2022 to N26.3 in 2023 and further to N42 in 2024 and now N44.66 kobo for the 2025 financial year.

Similarly, Okomu Oil Palm Plc has maintained an impressive dividend track record. The company paid N17 per share in 2022, followed by N16.50 in 2023, before increasing the payout to N24 in 2024.

For the 2025 financial year, Okomu Oil declared a substantial dividend of N55, reflecting its robust financial performance and determination to enhance shareholder value.

The consistent dividend growth of both companies underscores their strong operational fundamentals and reinforces investor confidence in Nigeria’s agro-allied sector.

On the financial performance, Presco reported a pre-tax profit of N177.98 billion in its audited financial results for the year ended December 31, 2025, representing a 57.4 per cent increase from N113.22 billion recorded in 2024.

Also, the company reported a pre-tax profit of N20.781 billion for the second quarter ended June 30, 2024, representing a 159.77 per cent year-on-year (YoY) increase.

The performance pushed the H1 2024 pre-tax profit to N50.439 billion, raising the 2023 full-year pre-tax profit by 0.86 per cent.

For Okomuoil, the firm achieved a pre-tax profit of N33.84 billion in its 2023 full year (FY) operations, representing a 44 per cent growth from N23.52 billion in FY 2022.

The company also recorded a pretax profit of N90.6 billion in its audited 2025 results, higher than N53.5 billion posted in 2024.

President of NewDimension Shareholders Association of Nigeria, Patric Ajudua, affirmed that these firms have remained consistent in rewarding investors through steady dividend payments and strong capital appreciation over the period under review.