Agro-Allied Stocks Deliver 1,656% Rally as Presco, Okomu, FTN Cocoa Drive NGX Wealth Surge
Three agro-processing stocks listed on the Nigerian Exchange (NGX) have turned into some of the market’s biggest wealth creators, delivering a staggering 1,656 per cent capital gain to investors over the past four years. The rally has been led by Presco Plc, Okomu Oil Palm Plc and FTN Cocoa Processors Plc, whose combined market value jumped to N3.82 trillion as of June 17, 2026, from N217.6 billion in May 2022.
In 2022, the three companies were still largely considered mid- to small-cap agricultural plays, with Presco trading at N77 per share, Okomu Oil at N147, and FTN Cocoa at just 29 kobo. However, shifting market dynamics, stronger earnings, and rising demand for local commodities steadily transformed them into heavyweight stocks on the NGX.
By 2026, the trio had become major market drivers, supported by improved pricing power, strong operational efficiency, and growing investor appetite for real-sector assets. The surge in global edible oil prices, driven by supply disruptions in key producing regions, significantly boosted revenues for palm oil producers like Presco and Okomu Oil, strengthening their market positions.
Macroeconomic pressures also played a key role in the rally, as naira depreciation pushed investors toward companies with export potential and inflation-hedging capacity. FTN Cocoa, once a penny stock, also joined the upward trend, benefiting from speculative inflows and improved earnings performance across the agro-processing sector.
Beyond capital appreciation, investors were further rewarded through consistent dividend growth and strong financial results. Presco’s dividend rose from N8.8 in 2022 to N44.66 in 2025, while Okomu Oil increased payouts from N17 in 2022 to N55 in 2025. Strong profit growth across both firms reinforced confidence in Nigeria’s agro-allied sector, with analysts noting that the sector’s resilience and dividend strength continue to attract both retail and institutional investors.
source: The Guardian