Top 10 Companies in Nigeria

Discover the list of the top 10 most valuable companies in Nigeria, ranked by market capitalization. Companies such as Dangote Cement, MTN Nigeria, BUA Cement and Airtel Africa are leading the ranking of the top 10 companies in Nigeria.

Top 10 Companies in Nigeria

Top 10 Companies in Nigeria presents the list of the top 10 most valuable companies in Nigeria, ranked by market capitalization.

A key regional player in West Africa, Nigeria accounts for about half of West Africa’s population with approximately 202 million people and one of the largest populations of youth in the world. With an abundance of natural resources, it is Africa’s biggest oil exporter, and has the largest natural gas reserves on the continent. Nigeria’s GDP amounted to 443 billion U.S. dollars in 2020 and records the highest gross domestic product in Africa.

Companies such as Dangote Cement, MTN Nigeria, BUA Cement and Airtel Africa are leading the ranking of the top 10 most valuable companies in Nigeria.

The List

Rank Company Industry Description

Dangote Cement

Non-Energy Minerals Dangote Cement is Africa’s leading cement producer. The Nigerian multinational publicly traded cement manufacturer is engaged in the manufacture, preparation, import, packaging and distribution of cement and related products in Nigeria, and has plants or import terminals in 10 other African countries. Dangote Cement is headquartered in Lagos.

MTN Nigeria

Telecommunications MTN Nigeria is a provider of communications services. The principal activities of the company are the provision of broadband fixed wireless access service, telecommunications services, and mobile financial services in Nigeria. The group operates in three reportable segments, namely, Consumer Business Unit, Enterprise Business Unit and Wholesale Business Unit. The majority of the revenue is generated from the CBU segment.

BUA Cement

Non-Energy Minerals BUA Group possesses a strong capacity in cement manufacturing with 3 major subsidiaries and plants in Nigeria. The Group also holds a stake in Damnaz Cement Company, which is the majority shareholder in Cement Company of Northern Nigeria. The Group’s plants have the capacity to provide various grades of cement and meet the highest standard of cement manufacturing. It is the second largest producer in Nigeria after Dangote.

Airtel Africa

Telecommunications Airtel Africa is an Anglo-Indian provider of telecommunications and mobile money services, with a presence in 14 countries in Africa. The company offers mobile voice and data services, as well as mobile money services, both nationally and internationally. Airtel Nigeria is the most profitable unit of Airtel Africa, and a leading provider of prepaid, postpaid mobile and 4G services in the country.

Nestlé Nigeria

Consumer Non-Durables Nestlé Nigeria is one of the largest food and beverage companies in Africa. It has been present in the country for over 57 years. With a staff strength of over 2,300 direct employees, 3 manufacturing sites, 8 branch offices and a head office located in Lagos, the company produces and markets several iconic brands including Maggi, Milo, Golden Morn, Nescafé and Nestlé Pure Life.

Guaranty Trust Bank

Banking and Finance Guaranty Trust Bank, also known as GTBank, is a Nigerian multinational financial institution that offers online/internet banking, retail banking, corporate banking, investment banking and asset management services, with its head office in Victoria Island, Lagos. The Bank commenced operations in 1991 and has since then grown to become one of the most respected and service focused banks in Nigeria.

Zenith Bank

Banking and Finance Zenith Bank is a leading multinational financial service provider based in Nigeria. It was founded in 1990 and has since grown astronomically to become one of the leading financial institutions in Africa. It is currently the 6th biggest bank in the continent, with more than 500 branches and business offices in all states of the Federal Capital Territory and subsidiaries in the UK, UAE, Ghana, Sierra Leone and Gambia.

Seplat Petroleum Development

Oil and Gas Seplat is a leading independent oil and natural gas producer in the prolific Niger Delta area of Nigeria and a leading supplier of processed gas to the domestic market. Seplat’s portfolio comprises 8 blocks in the Niger Delta, 4 of which Seplat operates directly. Seplat’s total work force is over 400 people. The Nigerian company is listed on both the London and Nigerian stock exchanges.

Stanbic IBTC Holdings

Banking and Finance Stanbic IBTC Holdings is a financial service holding company in Nigeria, with subsidiaries in banking, stock brokerage, investment advisory, pension and trustee businesses. Stanbic IBTC Holdings is a member of the Standard Bank Group based in South Africa. Standard Bank is Africa’s largest banking group ranked by assets and earnings operations in 20 African countries and 13 countries outside Africa.

Nigerian Breweries

Consumer Non-Durables Nigerian Breweries is the pioneer and largest brewing company in Nigeria. The company is engaged in brewing, marketing and selling of lager, stout, non-alcoholic malt drinks and soft drinks. It operates over 10 breweries and 2 malting plants in Aba and Kaduna. It also focuses on ancillary business, which includes manufacturing cans, labels, cartons and bottles.
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