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Nigeria Report
Marcopolis presents Nigeria Report focused on topics such as investments, power and hospitality, featuring interviews with Nigeria's leaders. The sectors under review in this issue are banking, construction, energy, industry, logistics, real estate, tourism and many more.
Companies8.30.2016
Top 10 Companies in Nigeria
- Created: 29 August 2016
List of the Leading Companies in Nigeria
Nigeria is undeniably one of the most developed countries in Africa. Services take up the largest pie of Nigeria's economy, accounting for about 50 percent of total GDP (2015 GDP amounted to $479bn). The fastest growing sectors within the Services area are Information and Communication. Although Agriculture used to be in the past the strongest sector today it accounts for around 23 percent of Nigeria's GDP.
While being the main exports, Oil & Gas constitute only 11 percent of total GDP. The remaining 16 of GDP is taken up by Industry and Construction sectors.
Despite forecasts of 1.7 percent growth estimated for 2016, the GDP in Nigeria contracted by 0.36 percent year-on-year in the first three months of 2016, compared to a 2.11 percent expansion in the previous period. It is the first contraction since the June quarter of 2004 as the non-oil sector contracted, mainly due to a slowdown in the services sectors due to a weakening Naira while lower oil prices keep dragging the oil sector down. Oil remains Nigeria’s main source of foreign exchange earnings and government financing.
The top 10 list of the largest companies in Nigeria is created by taking into account each company's market capitalization (The Nigerian Stock Exchange data) as of August 29, 2016. The list is topped by companies such as Dangote Cement, Nigerian Breweries, Guaranty Trust Bank (GT Bank), and Nestle Nigeria.
Top 10 Companies in Nigeria
Marcopolis.net presents the top 10 companies in Nigeria. The largest companies in Nigeria rankings are based on the market capitalization of each company (as of August 29, 2016; source: NSE).
The List
| Rank | Company | Country | Industry | Description |
|---|---|---|---|---|
| 1 | Nigeria | Industrials | Dangote Cement is Africa's leading cement producer with existing and planned operations in 16 African countries and Nepal, revenues of nearly US$2.5bn in 2015. Market capitalization: 2,956,528,034,768 Naira ($9.378bn) |
|
| 2 | Nigeria | Consumer Goods | Nigerian Breweries Plc. is the pioneer and largest brewing company in Nigeria. It serves the Nigerian market and exports to other parts of West Africa. Market capitalization: 1,096,356,779,784 Naira ($3.477bn) |
|
| 3 | Nigeria | Financials | Guaranty Trust Bank plc is a foremost Nigerian financial institution with vast business outlays spanning Anglophone/Francophone, West Africa, East Africa and the United Kingdom. Market capitalization: 763,739,100,863 Naira ($2.422bn) |
|
| 4 | Nigeria | Consumer Goods | Nestle Nigeria is the leading Nutrition, Health and Wellness company in the country. Market capitalization: 653,941,407,900 Naira ($2.074bn) |
|
| 5 | Nigeria | Financials | Zenith Bank Plc currently has a shareholder base of about one million and is Nigeria’s biggest bank by tier-1 capital. Headquartered in Lagos, Nigeria, Zenith Bank Plc has over 500 branches and business offices in prime commercial centres in all states of the federation and the Federal Capital Territory (FCT). Market capitalization: 480,366,354,926 Naira ($1.523bn) |
|
| 6 | Nigeria | Industrials | Lafarge Africa's brands in Nigeria include Ashaka Portland Limestone Cement, Elephant Cement, Powermax Cement, Supaset Cement, UniCem Cement, and Readymix Concrete and Aggregates. Market capitalization: 290,602,735,478 Naira ($0.921bn) |
|
| 7 | Nigeria | Oil & Gas | Forte Oil is a foremost indigenous major marketer of refined petroleum products with a strong presence in the thirty-six states of Nigeria and Abuja. Market capitalization: 230,539,155,231 Naira ($0.731bn) |
|
| 8 | Nigeria | Financials | Ecobank is a modern pan-African financial institution providing financial solutions to businesses, governments and individual customers. Market capitalization: 208,267,406,290 Naira ($0.66bn) |
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| 9 | Nigeria | Financials | Access Bank is one of Nigeria's foremost financial institution with a strong bias for excellent services delivery. Market capitalization: 161,996,641,134 Naira ($0.513bn) |
|
| 10 | Nigeria | Financials | United Bank for Africa (UBA) is a Nigerian multinational financial institution, with business offices in 20 African countries, and also in the United States, United Kingdom and France. Market capitalization: 161,443,892,133 Naira ($0.512bn) |
