Investors who placed early bets on the Nigerian Exchange’s ICT stocks have seen some of the strongest returns in 2025, outpacing nearly every other sector as digital infrastructure investment and renewed optimism around tech-driven growth lift valuations across the board.
As of October 8, a N1 million investment made at the start of the year in NCR Nigeria would now be worth N3.2 million, while eTranzact would have grown to N2.46 million, CWG Plc to N2.17 million, and MTN Nigeria to N2.13 million, according to NGX trading data. Chams Holding would have risen to N1.8 million, and Omatek Ventures to N1.64 million, reflecting a powerful rebound in Nigeria’s listed technology ecosystem.
Taken together, these ICT firms have posted an average year-to-date gain of about 139 percent, far outperforming the NGX All-Share Index, which has gained around 40.9 percent so far this year. The sector’s sharp rally underscores how investors are shifting toward growth-oriented counters, betting on Nigeria’s accelerating digital transformation and sustained telecoms expansion.
The NGX ICT Index has been buoyed by a combination of earnings recovery, increased adoption of digital payment systems, and ongoing infrastructure spending by telecoms and fintech. MTN Nigeria, already a telecommunications giant, has benefited from robust data revenue and recent tariff adjustments. At the same time, smaller-cap players such as eTranzact, CWG, and Chams Holding have rallied sharply on speculative inflows and expectations of new digital service contracts.
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The year’s standout performer has been NCR Nigeria, whose share price ballooned 220 percent, from N5 in January to N16 by October 8, on the back of strong order books and renewed investor confidence in its systems integration and fintech hardware business. eTranzact’s stock jumped 146 percent to N16, and CWG more than doubled to N17.55. Chams Holding gained 132 percent, while Omatek Ventures advanced 82 percent.
The surge in ICT valuations has stirred debate over how long the rally can last. Analysts note that liquidity from domestic institutional investors, coupled with limited foreign participation, has amplified price movements in thinly traded names. Still, sentiment remains broadly positive, with most brokers highlighting the sector’s resilience and earnings visibility.
With the federal government prioritizing broadband expansion, cashless payments, and artificial intelligence integration in public services, technology remains a central pillar of Nigeria’s medium-term economic strategy. As 2025 enters its final quarter, investors are watching whether ICT stocks can sustain their momentum amid profit-taking pressures and a shifting interest-rate environment.
Regardless of short-term corrections, the ICT sector’s 2025 performance has cemented its status as one of the Nigerian Exchange’s biggest success stories and evidence of how digital growth is reshaping Nigeria’s investment landscape.