NGX 2026 Rally: CEOs Drive Turnaround at Legacy Firms as Investor Sentiment Shifts
By Aboki Forex —
The 2026 rally on the Nigerian Exchange is not just about price recoveries. It is also about a group of chief executives steering legacy companies through renewed investor attention and re-rating cycles.
In the industrial and conglomerates space, SCOA Nigeria Plc is benefiting from restructuring. Its leadership has focused on strengthening its distribution footprint across heavy equipment and automotive segments. This has helped the company tap into renewed demand in infrastructure-linked sectors.
At R.T. Briscoe Plc, long-serving management has leaned on deep institutional experience in the automotive services value chain. The firm has been guided through cyclical pressures while positioning for a broader operational reset. Investors have responded positively.
In logistics, Red Star Express Plc’s leadership continues to push efficiency and scale in courier and freight services. This segment is increasingly supported by Nigeria’s growing e-commerce and trade logistics demand.
Within the building materials and coatings space, Berger Paints Plc and CAP Plc have focused on operational discipline, cost management, and market expansion. These moves align with rising construction activity and infrastructure-related demand.
In the consumer-linked industrial segment, Union Dicon Salt Plc has seen leadership attention shift toward governance tightening and stabilisation efforts. This follows years of market volatility.
Fortis Global Insurance Plc reflects a leadership transition story in Nigeria’s insurance space. The firm is seeking to rebuild confidence after a period of disruption.
Across these companies, a common thread stands out: experienced executives managing legacy institutions through structural resets. Investor sentiment is increasingly rewarding turnaround narratives, balance sheet discipline, and operational visibility.
One standout performer is Anthony Adigwe, CEO and Managing Director of DEAP Capital Management & Trust Plc. He was appointed on May 18, 2023. Adigwe holds a Master’s degree in Political Science from the University of Lagos and a Bachelor’s degree from the University of Benin. His career spans investment management, logistics, sales, and marketing, with more than a decade of experience. Before taking the helm, he spent eight years at DEAP Capital in progressively senior roles, including Branch and Business Development Manager in Port Harcourt and Head of Business Development in Lagos. He previously worked at Ibeto Cement Industries Limited, Bonny Allied Industries Limited, and completed his NYSC at Glaxo Nigeria Plc.
Under his leadership, DEAP Capital has become one of the NGX’s top performers in 2026. As of May 26, 2026, the stock delivered a year-to-date return of 187%. It opened the year at N1.90 per share and climbed to N5.45. Trading volumes exceeded 908 million shares. The company has attracted interest from high-net-worth investors across Saudi Arabia, the United Arab Emirates, and Europe. It currently holds a market capitalization of approximately N8.5 billion.
Other CEOs driving change include Mrs. Bolarin Okunowo at Chemical & Allied Products, Alaba Fagun at Berger Paints, Florence Iroye at Union Dicon Salt, Adedoyin Adeyinka at Premier Paints, Dr. Christopher Ezeh at John Holt, Oluseyi Onajide at R.T. Briscoe, Babura Auwalu Badamasi at Red Star Express, Massad Fares Boulos at SCOA Nigeria, and Mrs. Nomwen Emeghalu at Fortis Global Insurance.