NGX Agro stocks to buy, hold, wait and avoid in H2 2026

As the H2 2026 earnings season unfolds, six listed NGX agricultural sector companies have released their unaudited half-year 2026 results, showcasing a strong start to the year. These companies, including Zichis, Ellah Lakes, FTN Cocoa, Livestock, Okomu, and Presco, have posted a combined profit after tax of N123.48 billion in H1 2026, comprising 70.75% of their full-year 2025 profit achieved in just six months. Revenue also grew by 20%, reaching N688.88 billion in H1 2026.

However, not all stocks present equal opportunities. Some companies, like Presco, demonstrate strong growth potential with robust earnings and dividend growth, making them suitable for long-term investors. On the other hand, companies such as Okomu Oil, despite their strong fundamentals, trade at premiums that may not be justified by their current growth trajectory.

Zichis, the most noteworthy stock, has experienced an unprecedented surge of 1,016% year-to-date, more than five times the sector average. This extraordinary performance is backed by limited public-market history, resulting in a substantial premium placed on its earnings. FTN Cocoa and Livestock, while showing higher valuations, struggle with declining earnings, thin equity bases, and negative return on equity, offering little support for short-term trading strategies.

Ellah Lakes, the sole company to post a loss in H2 2026, shows signs of improvement with narrowing losses. However, its current performance remains concerning due to its losses and lack of dividend history, making it a risky pick for long-term or value investors.

In conclusion, investors should carefully consider each company's financial health and growth potential before making investment decisions in the NGX agricultural sector for H2 2026.