The Nigerian stock market experienced an extraordinary bull run over the first five months of 2026, with total market capitalisation exploding by over N60 trillion and surpassing the N160 trillion milestone.
Following this development, a select group of stocks achieved breathtaking status, yielding over 200 percent return between January and May 2026.
Driven by massive liquidity, robust corporate earnings, and aggressive investor positioning, the standout top performers on the Nigerian Exchange Limited (NGX) that breached the 200 percent return threshold during this five-month window include:
Red Star Express Plc (+290.80%)
The underlying factors that powered this near-300 percent surge in five months reveal a combination of operational changes and macroeconomic shifts: Red Star’s deep integration with FedEx allowed it to capture a massive share of the high-margin international trade and express cargo volume moving through Nigeria, insulated from standard domestic retail pressures.
The market was reacting directly to a massive
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